Ukraine-US minerals deal open-ended, no security guarantees: Rada off.
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Ukraine has large reserves of rare earth minerals, including the highly sought-after lithium, an essential component in mobile phones and electric vehicle batteries.
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A view of an ilmenite open pit mine in a canyon in the central region of Kirovohrad, Ukraine, on Wednesday, Feb. 12, 2025. (AP)
The minerals agreement between the United States and Ukraine will have no expiration date and will exclude any security guarantees, according to Verkhovna Rada member Yaroslav Zheleznyak, who reviewed the document.
"The agreement will remain in effect indefinitely. Any changes or termination of the agreement can only occur with American consent. They hold the right of 'first refusal' on all new infrastructure projects and possess the authority to veto the sale of resources to other countries," Zheleznyak stated on his Telegram channel.
He stressed that the document contained "absolutely no provisions regarding security guarantees, not even a hint."
Zheleznyak also noted that the 58-page agreement, dated March 23, is "not final" and expressed hope that Ukraine would push for revisions. "The text I saw is terrible. This is a significant and very clear deal, and it is not in our favor," he emphasized.
The following details provide insight as to why the deal is viewed as disadvantageous for Ukraine, according to Kiev Post:
- The creation of a board of five members, three of whom would be from the US, all with full veto powers.
- An expansion of the list of “resources", which Zheleznyak says now includes oil and gas deposits from newly discovered fields throughout Ukraine.
- The US says it considers its contribution to the agreement has already been paid – by way of the weapons provided since 2022 - meaning no additional US investments would be forthcoming.
- Changes to or termination of the agreement would only be possible with US approval.
- No mention of the security guarantees that Ukraine has requested.
“I want to emphasize that this is not the final (!!!) document. And I hope the Ukrainian side will demand and achieve significant changes to it. But the text I saw is just awful - all 18 sections. This is no longer a framework memorandum of intent (as it was before the scandalous meeting in the Oval Office)," the Verkhovna Rada member said.
In the end, Zheleznyak hinted that the agreement would possibly be rejected when presented to the Verkhovna Rada.
Previously, Ukrainian President Volodymyr Zelensky confirmed that the US had provided the full text of the minerals agreement. Ukrainian officials are currently reviewing the document before submitting it to the Rada for ratification.
It's worth noting that US President Donald Trump had previously declared that "his administration's primary goal is to end the fighting in Ukraine, while the secondary goal is to recoup the money the United States has spent, hinting at the aid the US has long supplied Ukraine with, while emphasizing that the agreement with Kiev "will recoup Washington's money."
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