The United States is preparing to sign a new agreement with Ukraine regarding access to the country’s mineral resources, according to a report from the Financial Times on Friday. A previous attempt to finalize the deal in February failed due to disagreements between the presidents of both nations. The latest version of the agreement is expected to grant the U.S. more extensive rights than the original proposal.
Washington is also pushing for the agreement to address issues of ownership and control over a joint investment fund, as well as potential U.S. stakes in Ukrainian assets such as nuclear power plants.
U.S. Interest in Ukraine’s Resources
In a speech at the White House on Thursday, former President Donald Trump highlighted the U.S. interest in securing agreements on rare earth metals and minerals worldwide, with Ukraine being a key focus.
“We’re doing very well with regard to Ukraine and Russia. And one of the things we are doing is signing a deal very shortly with respect to rare earths with Ukraine,” Trump stated.
The Financial Times reports that Trump and Ukrainian President Volodymyr Zelensky discussed Ukraine’s electricity supply and the future of its nuclear power plants in a phone call on Wednesday. U.S. officials have suggested that American expertise in energy and utilities could be valuable in managing these facilities. They also emphasized that U.S. ownership would provide the "best protection" for Ukraine’s energy infrastructure.
However, Zelensky clarified that his discussion with Trump focused solely on the Zaporizhzhia Nuclear Power Plant—the largest in Europe—which has been under Russian control since March 2022.
Concerns Over the Agreement
The potential deal between Ukraine and the U.S. has sparked concerns among some Ukrainian lawmakers and citizens. Opposition member Inna Sovsun voiced her apprehensions on social media, questioning the implications of such an agreement.
“Since when does surrendering a strategic sector to a foreign country equal security? Sounds more like a takeover than protection,” Sovsun wrote.
The negotiations remain a topic of debate, as Ukraine weighs the benefits of U.S. involvement in its energy and mineral sectors against concerns about sovereignty and control.
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