Zelenskyy: Next agreement on joint fund with the US on mineral resources will be subject to ratification
President Volodymyr Zelenskyy said that after signing a framework agreement with the United States on minerals, an agreement on a joint investment fund will be concluded, which will be subject to ratification by Ukraine.
He said this at a press conference, Censor.NET reports.
The Head of State emphasized that Ukraine and the United States have now agreed on a framework agreement on the use of Ukrainian rare earth resources, according to which this will take place through a fund where both states will be co-owners.
He clarified that there is no further agreement on the functioning of the fund itself.
"It (the agreement - Ed.) will be more complicated and serious, because the next agreement will be about the fund. And it will deal with partnerships, money, and so on. And it will already have mandatory ratification in the Ukrainian parliament," the head of state added.
He clarified that he did not know whether the U.S. Congress would ratify the agreement.
As a reminder, on February 26, President Volodymyr Zelenskyy confirmed that Ukraine and the United States had agreed on a framework agreement on minerals.
Minerals agreement with the US
As a reminder, Trump has said he wants to sign a $500 billion deal with Ukrainian President Volodymyr Zelenskyy on access to rare earth resources and natural gas in Ukraine in exchange for security guarantees in any potential peace settlement.
President Zelenskyy said that the agreement with the US on minerals would be signed at the ministerial level when ready and subject to guarantees. Currently, this document is not ready to protect Ukraine's interests.
Later, Trump said that Ukraine had undermined the rare earth metals deal. The agreement was needed so that the United States could recover the money spent on supporting Ukraine.
The administration of U.S. President Donald Trump has handed over to Ukraine an "improved" draft of the minerals agreement that "complies with Ukrainian law."
President Volodymyr Zelenskyy said that if the US wants to see specific numbers in the minerals agreement, then according to Ukrainian law, ratification by the Verkhovna Rada will be required.
On 25 February, the Financial Times reported that Ukraine and the United States had agreed on the terms of a deal on minerals, and Kyiv was ready to sign the document.
