Zelenskyy won't sign additional deal with US without security guarantees - The Economist
Photo: President Volodymyr Zelenskyy (president.gov.ua)
A further agreement between Ukraine and the United States should clarify the issues of control and security guarantees that President Volodymyr Zelenskyy sought back in September in exchange for the country's mineral resources, The Economist reports.
The new agreement between Ukraine and the United States makes no mention of Donald Trump's $500 billion bill or the American demand for one hundred percent control over the investment fund. According to the agency, ownership of the fund will be distributed in proportion to the contributions of both parties, which indicates further support for Ukraine by the United States.
The clause that obliged Ukraine to pay double the amount of any future aid to the fund was also removed. Zelenskyy had previously criticized this requirement, calling it the debt of ten generations of Ukrainians. But the question of controlling the fund remains open. One clause stipulates that the US will control the maximum amount allowed under its law, which may conflict with the proportional sharing provision.
The Economist notes that the upcoming agreement should clarify the control mechanisms as well as the security guarantees that Zelenskyy sought back in September in exchange for access to Ukrainian mineral resources. However, the framework agreement currently contains only provisions on the protection of mutual investments, but its preamble provides for a broader agreement architecture and support in obtaining security guarantees.
According to sources familiar with the negotiations, Zelenskyy does not intend to sign a second, more comprehensive agreement that does not include broader security guarantees. The initial framework document will not require parliamentary ratification, but the future agreement will.
Agreement between Ukraine and United States
Earlier, the media reported that Ukraine and the United States had agreed on the details of an agreement on rare earth metals. According to the available information, Ukraine is ready to sign an agreement that provides for joint development of its mineral resources, including oil and gas, with the United States.
Yesterday, Prime Minister of Ukraine Denys Shmyhal said that Ukraine and the United States had finalized the agreement on rare earth metals. This agreement is called the Agreement on the Establishment of Rules and Conditions of the Investment Fund for the Reconstruction of Ukraine. Yesterday, the Cabinet of Ministers of Ukraine was to consider the text of this agreement.
Read more about what Ukraine will get from the agreement with the US on minerals and at what stage the parties are now in the process of negotiating it in RBC-Ukraine's article.
RBC-Ukraine also described the essence of the agreement, what preceded the final version, and what to expect next.
