A Bloomberg report on Thursday revealed that the United States is aiming to dominate all major future infrastructure and mining investments in Ukraine, potentially granting it veto power over Kiev's other allies and jeopardizing Ukraine's efforts to join the European Union.

A draft document obtained by the agency reveals that the Trump administration has requested a "right of first offer" on all infrastructure and natural resource investments as part of a revised partnership agreement with Ukraine.

The agency reported that if the agreement is approved, it would grant the United States significant control over investments in Ukraine, covering key sectors such as roads, railways, ports, mines, oil and gas, and the extraction of vital minerals.  

The US agency said that this would mark an unprecedented expansion of US economic influence in Europe's largest country by area at a time when Ukraine is striving to integrate with the European Union.

According to the report, the agreement would grant the United States first rights to the profits transferred to a special investment fund for reconstruction, which would be controlled by Washington.

Crucially, the document outlines that the United States regards the "material and financial benefits" it has provided to Ukraine since Russia's military operation began in February 2022 as its contribution to the fund.

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Bloomberg noted that this would require Ukraine to repay all military and economic aid provided by the United States since the war began before Kyiv can receive any revenue from the partnership fund.

Late last week, the United States presented a revised version of the agreement to Kiev officials, following the collapse of the initial plan for Ukrainian President Volodymyr Zelensky to sign the previous version after a tense confrontation with Trump in the Oval Office last month.

Discussions between the two sides are still ongoing, and the final version may include changes to the terms. According to a source familiar with the matter who spoke to Bloomberg, Ukraine is expected to respond to the US document with its own amendments this week.

Ukraine-US minerals deal open-ended

Verkhovna Rada member Yaroslav Zheleznyak stated on Thursday that the minerals agreement between the United States and Ukraine will have no expiration date and will exclude any security guarantees.

"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