Ukraine and the US have approved the final version of the agreement on rare earth metals

Ukraine and the United States have actually worked out the final version of the agreement on rare earth resources.

This was announced by Prime Minister of Ukraine Denys Shmyhal during a telethon.

He noted that the document is titled «Agreement on Establishing the Rules and Conditions of the Investment Fund for the Reconstruction of Ukraine», which will be managed by Kyiv and Washington.

«This is a preliminary agreement that provides for the creation of an investment fund for the reconstruction of Ukraine, where Ukraine and the United States will manage this fund on an equal footing and fill it. This agreement is directly tied to security guarantees. Neither the president nor the government will consider this agreement in isolation from security guarantees for Ukraine», said Denys Shmyhal.

According to him, today the government will review the text of the agreement and authorise ministers to sign it.

«Ukraine's contribution to the fund is part of our future income. What is very important is that it is not existing or previous revenues, this agreement is about the future. We are talking about future revenues received from royalties or licences for minerals, from dividends on infrastructure used for the transportation or extraction of the relevant minerals. We will invest 50% of such revenues in this joint fund for the restoration of Ukraine with the United States», the Prime Minister explained.

He added that the United States would also contribute to the fund, without specifying how much. The fund will invest the proceeds in Ukraine's development — in recovery and security.

Denys Shmyhal also stressed that the agreement will be finally signed after Zelenskyy and Trump agree on how it will be tied to security guarantees for Ukraine.

As reported earlier, Ukraine and the United States have agreed on the terms of an agreement on rare earth metals. The updated agreement does not stipulate that the US will fully own the joint fund with Ukraine, but it does not have clear security guarantees.

Agreement on minerals between Ukraine and the United States

Earlier, Donald Trump said that he would like to conclude an agreement under which Ukraine would supply the US with rare earth minerals needed for electronics production in exchange for US aid.

However, German Chancellor Olaf Scholz criticised Donald Trump's proposal to provide Ukraine with military assistance in exchange for its minerals.

Subsequently, US President Donald Trump said that Ukraine had agreed to provide Washington with access to rare earth minerals worth $500 billion.

It should be noted, however, that Ukrainian President Volodymyr Zelenskyy refused to sign the agreement on granting the US access to rare earth minerals. The White House called this decision «short-sighted».

Volodymyr Zelenskyy said that the United States might consider investing in mining on the Black Sea shelf, which is currently under Russian occupation.

US National Security Advisor Mike Volz called on Kyiv «to tone it down» and sign the mining agreement that President Zelenskyy had previously rejected.

Subsequently, the US President Donald Trump's administration sent Ukraine an updated version of the mining agreement, which took into account some of Kyiv's comments. The new draft US minerals agreement provides for the distribution of revenues from resources in the liberated territories of Ukraine.