US and Ukraine discuss minerals agreement, few chances - Reuters
Rare earth metal processing in China (Photo: Getty Images)
On Friday, US and Ukrainian officials met to discuss Washington's proposal regarding access to Ukraine's mineral resources, but the chances of an agreement remain slim, according to Reuters.
According to an informed source, the prospects of a breakthrough in reaching an agreement are slim, given the antagonistic atmosphere of the meeting. The source revealed that tensions in the Washington negotiations arose due to the latest proposal from the Trump administration, which turned out to be broader than the initial version.
"The negotiating environment is very antagonistic," the source said, pointing to the maximalist proposal presented by the Trump administration last month.
The latest proposal would grant the US privileged access to Ukraine’s mineral deposits and require Kyiv to direct all revenues from the exploitation of natural resources by Ukrainian state and private companies into a joint investment fund.
According to the source, one of the Easter eggs found in the document was the US demand for the US government’s International Development Finance Corporation to take control of the gas pipeline from Russian energy giant Gazprom through Ukraine to Europe.
At the same time, the proposed agreement will not provide Kyiv with security guarantees from the US, a key priority for Ukrainian President Volodymyr Zelenskyy.
The source also stated that the Ukrainian government has hired the law firm Hogan Lovells as an external consultant on the mineral extraction agreement.
Earlier on Wednesday, Zelenskyy stated that the agreement on mineral supply should be beneficial for both countries and could be structured in a way that supports Ukraine’s modernization.
For more details on the strengthening of the US-Ukraine deal, read the full article by RBC-Ukraine.
