Ukraine, US sign minerals deal; Kyiv hopes for security redressal

After months of tense negotiations, the US and Ukraine signed a deal that is expected to give Washington access to the country’s critical minerals and other natural resources, an agreement Kyiv hopes will secure long-term support for its defense against Russia.

According to Ukrainian officials, the version of the deal signed on Wednesday is far more beneficial to Ukraine than previous versions, which they said reduced Kyiv to a junior partner and gave Washington unprecedented rights to the country’s resources.

The agreement — which the Ukrainian parliament must ratify — would establish a reconstruction fund for Ukraine that Ukrainian officials hope will be a vehicle to ensure future American military assistance.

A previous agreement was nearly signed before being derailed in a tense Oval Office meeting involving US President Donald Trump, US Vice President JD Vance and Ukrainian President Volodymyr Zelenskyy.

“We have formed a version of the agreement that provides mutually beneficial conditions for both countries. This is an agreement in which the United States notes its commitment to promoting long-term peace in Ukraine and recognises the contribution that Ukraine has made to global security by giving up its nuclear arsenal,” Ukrainian Economy Minister Yulia Svyrydenko said in a post on Facebook.

Ukraine sees the deal as a way to ensure that its biggest and most consequential ally stays engaged and doesn’t freeze military support, which has been key in its 3-year-old fight against Russia’s full-scale invasion.

The deal covers minerals, including rare earth elements, but also other valuable resources including oil and natural gas, according to details released by Ukrainian officials. It does not include resources that are already a source of revenue for the Ukrainian state. In other words, any profits under the deal are dependent on the success of new investments.

While Trump has repeatedly expressed interest in Ukraine’s rare earth elements, it unclear what other minerals might be part of the deal. Earlier this year, Andrii Yermak, the head of Ukraine’s presidential office, said it could include lithium, titanium or uranium.

The agreement ensures full ownership of the resources remains with Ukraine, according to Ukrainian officials. The state will determine where and what can be extracted.

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