Ukraine and the United States have reached a framework agreement to jointly develop Ukraine's natural resources, including rare earths, critical minerals, oil, and gas. Announced on Wednesday, the deal aims to support Ukraine's reconstruction efforts and strengthen economic ties between the two nations.
U.S. President Donald Trump stated during a cabinet meeting that Ukrainian President Volodymyr Zelenskyy is scheduled to travel to Washington on Friday to finalize the mineral agreement. Zelenskyy emphasized in his nightly address the importance of securing security guarantees and the continuation of U.S. aid, stating, \"For me and for all of us in the world, it is important that American aid is not halted. Strength is needed on the path to peace.\"
Despite the agreement, Ukrainian Prime Minister Denis Shmyhal described it as \"preliminary,\" highlighting several key aspects. The deal includes the establishment of a reconstruction investment fund jointly managed by both governments, with Ukraine retaining control over its underground mineral and natural resources. Ukraine will allocate 50 percent of future income from these resources to the fund, while the U.S. will contribute financial resources and assets critical to reconstruction projects.
However, some experts have raised concerns about the nature of the deal. Chen Yu, deputy director of the Eurasian Studies Institute at the China Institute of Contemporary International Relations, warned that the agreement could allow the U.S. to economically control Ukraine and exploit its mineral resources. Chen noted that the agreement requires Ukraine to allocate half of its revenues from natural resources to the fund and restricts Ukraine from altering these terms without U.S. consent.
The Washington Post echoed these concerns in an editorial, cautioning that the new U.S. administration's approach signals a return to policies where powerful nations extract resources from smaller countries, potentially expanding their influence through economic means.
As Ukraine navigates its path towards European integration and ongoing peace negotiations, the implications of this minerals deal will be closely watched by global observers and stakeholders.
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U.S., Ukraine reach minerals deal; experts warn of exploitative nature
cgtn.com
