Ukraine sees a threat to sovereignty in new US minerals agreement – FT
Photo: US President Donald Trump (Getty Images)
The US insists on a broad new agreement on the control of Ukraine's critical minerals and energy assets without offering Kyiv any security guarantees in return, Financial Times informs.
The Financial Times has reviewed a new draft agreement that was sent to Kyiv. According to their information, this document goes beyond the initial joint economic agreement signed last month as part of US President Donald Trump's efforts to end the Russian invasion and offset military aid to Ukraine.
Ukrainian senior officials have expressed concerns that the new proposal could undermine the country's sovereignty, redirect profits abroad, and increase its dependence on Washington.
According to the Financial Times, the new draft agreement is a step toward strengthening the Trump administration's control over Ukraine’s lucrative natural resources. Washington insists on its adoption as part of efforts to end the war.
The document covers all mineral resources, including oil, gas, and key energy assets on Ukrainian territory. The US also demands the creation of a joint investment fund, with revenues to be shared between the two countries. It would be overseen by a supervisory board, with three out of five seats allocated to American representatives, effectively giving Washington veto power.
Additionally, the draft states that the contributions of the US following Russia’s full-scale invasion of Ukraine in 2022 will be considered part of this partnership.
Rare earth agreement
Last month, Ukraine and the US planned to sign a framework agreement on rare earth mineral deposits. However, this did not happen due to a conflict between Presidents Volodymyr Zelenskyy and Donald Trump.
Recently, Washington sent Kyiv a new draft agreement, but according to Zelenskyy, it is no longer a framework document but a full-fledged agreement that must be ratified by the Verkhovna Rada.
US Treasury Secretary Scott Bessent stated that Washington has prepared the final version of the minerals agreement for Ukraine, and according to him, it could be signed as early as next week.
However, MP Yaroslav Zhelezniak told RBC-Ukraine that the new rare earth metals agreement is largely commercial in nature and significantly limits Ukraine’s rights.
