Agreement on subsoil between Ukraine and the United States: 57 minerals and military aid as a contribution to a joint fund

The bilateral agreement between Ukraine and the United States signed in Washington establishes a political framework for cooperation in the field of subsoil development, but most of the specific provisions will be regulated in a subsequent technical document.

This is reported by «Evropeiska Pravda», whose journalists have read the text of the signed document.

The agreement covers 57 types of minerals, including oil and natural gas, and applies only to new deposits for which licences will be issued after it enters into force. It is emphasised that the document does not cover revenues from existing Ukrainian infrastructure, which was once proposed by the US side.

The document defines the general principles of cooperation, including US involvement in the development of the industry and further military support for Ukraine. It is envisaged that the supply of arms, technology or training for the Armed Forces will be considered a US contribution to a joint fund to be formed from Ukrainian revenues, including rents and licence fees.

However, the document does not contain a number of provisions claimed by the Ukrainian government. In particular, it does not set out the principles of the fund's management, nor does it mention the intention to reinvest all revenues in the reconstruction of Ukraine over the next ten years. These conditions should be included in the next agreement, which is still being prepared by the parties.

It is worth noting that the signed document does not provide any advantages for American companies in the distribution of licences - they will participate on general terms, without «the right of first refusal». The agreement also does not subordinate Ukraine to American law and is consistent with Ukraine's European aspirations. In case of contradictions with the agreements with the EU, the provisions of this agreement will be subject to revision.

According to the publication, the current agreement is only 12 pages long, while the initial American draft, handed over in March, contained more than 90 pages.

Agreement on minerals between Ukraine and the United States

Earlier, Donald Trump said that he would like to conclude a deal 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, which 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.

Ukraine and the US also discussed some other issues before signing the minerals agreement.

A week ago, the countries signed a memorandum as a first step towards reaching an agreement on expanding economic cooperation, including the development of mineral resources in Ukraine, which has proven to be unattainable.