USA, Ukraine minerals deal
U.S. President Donald Trump and Ukrainian President Volodymyr Zelensky aborted deal on Friday in Washington that was to grant Washington access to Ukraine’s mineral deposits.
WHAT DOES THE AGREEMENT ENTAIL?
The deal would establish a fund jointly owned by Ukraine and the United States, to which Ukraine needs to contribute 50 percent of its future revenues from the monetization of natural resources, including minerals, hydrocarbons, oil, natural gas, and other extractable materials and other infrastructure relevant to natural resource assets. The United States would own the maximum financial interest in the fund as allowed by American law.
Just a week ago, Trump called Zelensky a “dictator” and accused him of starting the conflict with Russia. Now, with potential access to Ukraine’s mineral wealth, Trump said he believes that Ukraine should be guaranteed “the right to fight on.”
Earlier, Washington had demanded 500 billion U.S. dollars of resources for the aid it has provided and 100 percent financial interest of a joint fund, terms that the Telegraph newspaper called “economic colonization.”
German Chancellor Olaf Scholz had slammed Trump’s proposal, which tied future military support to access to Ukrainian mineral resources, calling it “very egotistic, very self-centered.”
Before the final draft came off, Washington had been imposing pressures on Ukraine.
A U.S. envoy threatened to cut Ukraine’s access to the Starlink satellite Internet system, which provides crucial Internet connectivity to the country and its military, unless a deal on critical minerals is struck.
