Ukraine-U.S. agreement on minerals is just first step in bilateral cooperation – MFA
Ukrainian Foreign Ministry spokesman Heorhii Tykhyi urged not to perceive the agreement on minerals to be signed by Ukraine and the United States on February 28 as a final treaty, but to consider it as the first step in cooperation.
He said this at a briefing on February 27, Censor.NET reports.
According to him, the agreement concerns Ukraine's rare earth resources and provides for the creation of a special fund to be jointly managed by Kyiv and Washington. Further negotiations are planned to detail the activities of this fund.
Tykhyi emphasized that the fund's money would be replenished in Ukraine and used for its reconstruction.
He also noted that after the revisions, the text of the agreement became "much better and acceptable for signing." In particular, the document removed references to Ukraine's "debt" for previous assistance and a clause on reimbursement of future support on a two-for-one basis.
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 given 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.
On February 26, the Cabinet of Ministers approved the signing of a subsoil agreement with the United States.
