MP on the new US deal on minerals: «It's a nightmare»
- News of Ukraine
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- Darina Melnychuk
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16:52, 27 March, 2025
The US has handed over a new minerals agreement to Ukraine. Illustrative photo: Associated Press NewsThe United States has submitted a new draft agreement on minerals to Ukraine, which will soon be considered by the Verkhovna Rada.
This was announced by Yaroslav Zhelezniak, MP from the «Holos» faction.
According to Zhelezniak, the document does not mention any security guarantees for Ukraine. He also stressed that this document is not final, so it contains many legal details and needs to be amended.
«I hope the Ukrainian side will demand and achieve significant changes to it. But the text I've seen is a nightmare. This is no longer just a memorandum, it's a clear agreement, and it's clearly not in our favour,» Yaroslav Zhelezniak writes.
It is noted that the document provides for five people in the management, of which three will be from the United States with full veto power.
The agreement covers all types of minerals on the territory of Ukraine, including oil, gas, as well as new and existing resources. Both state-owned and private companies can carry out production. The funds received for extraction are converted into foreign currency and transferred abroad, with additional payments if the Ukrainian side fails to receive funds on time.
In addition, the US contribution already includes assistance provided since 2022. They will be the first to receive royalties, after Ukraine, at 4%. The agreement is open-ended, and changes to it are possible only with the permission of the US side. The United States has the right to «first right of refusal» on all new infrastructure projects in Ukraine, as well as the right to veto the sale of resources to other countries.
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.
However, it should be noted that Ukrainian President Volodymyr Zelenskyy refused to sign an agreement to grant 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.
In addition, the US is in preliminary talks with the Democratic Republic of Congo to conclude an agreement on access to critical minerals.