Ukraine has agreed with the United States on a mineral extraction agreement on significantly more favorable terms.
The British newspaper Financial Times reported this on Tuesday, February 25.
According to the publication, the United States has abandoned its demands for USD 500 billion in potential income from Ukrainian resources. In addition, the condition of 100% U.S. control over a commercial fund was removed from the agreement. According to Ukrainian representatives, they have achieved much more favorable terms that will strengthen the country's prospects in the fourth year of russian aggression.
"The minerals agreement is only part of the picture. We have heard multiple times from the US administration that it’s part of a bigger picture," Olha Stefanishyna, Deputy Prime Minister for European and Euro-Atlantic Integration - Minister of Justice, who led the Ukrainian negotiating side, told the Financial Times.
Ukrainian officials hope to improve relations with the administration of U.S. President Donald Trump, as well as open the way for the United States to provide security guarantees to Ukraine, writes the FT. It is envisaged that Ukraine will transfer 50% of the income from the future monetization of minerals (including oil, gas and infrastructure related to their extraction) to a special fund. At the same time, funds from this fund will be allocated for investment projects in Ukraine itself.
The document is currently to be signed by Ukrainian Foreign Minister Andrii Sybiha and U.S. Secretary of State Marco Rubio.
As the Ukrainian News agency earlier reported, on February 24, Stefanishyna said that the Ukrainian and U.S. teams are in the final stages of negotiations on a minerals agreement.
On February 23, President Volodymyr Zelenskyy said on February 23 that he does not intend to recognize Ukraine's debt to the U.S. of USD 500 billion, which U.S. President Donald Trump insisted on.
On February 23, U.S. Treasury Secretary Scott Bessent stated that as part of the agreement on United States access to Ukrainian rare earth minerals, the United States will not become the owner of physical assets in Ukraine.
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