In a significant move towards reconstruction and economic collaboration, Ukraine announced on Wednesday that it has signed a framework agreement with the United States to jointly develop the country's natural resources. This agreement focuses on the exploration and exploitation of rare earths, critical minerals, oil, and gas, positioning Ukraine as a pivotal player in the global resource market.
During a cabinet meeting, U.S. President Donald Trump revealed that Ukrainian President Volodymyr Zelenskyy is scheduled to visit Washington on Friday to formally sign the mineral agreement. Zelenskyy emphasized the deal's success would depend on these pivotal talks and the continuation of U.S. aid.
In a nightly video address, Zelenskyy highlighted the necessity of securing security guarantees during his discussions with Trump. \"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,\" Zelenskyy stated, underscoring the vital role of ongoing U.S. support.
While Ukraine has yet to receive formal security assurances, President Trump indicated that Europe would handle security guarantees, stating, \"I'm not going to make security guarantees beyond very much. We're going to have Europe do that.\"
Ukrainian Prime Minister Denis Shmyhal described the agreement as \"preliminary\" but outlined several key components. The pact involves establishing a reconstruction investment fund, jointly owned and managed by Ukraine and the U.S., ensuring that Ukraine's underground minerals and natural resources remain under national control.
Under the agreement, Ukraine will allocate 50 percent of future income from its natural resource assets to the fund, while the U.S. will contribute financial resources and critical assets to support reconstruction efforts. These funds are earmarked exclusively for Ukraine's rebuilding projects and align with the nation's European integration commitments.
However, some experts have raised concerns about the agreement's implications. Chen Yu, deputy director of the Eurasian Studies Institute at the China Institute of Contemporary International Relations, warned that the deal could lead to the U.S. economically controlling Ukraine and seizing its mineral resources. He suggested that Ukraine, eager to mend its relationship with the U.S. and secure a favorable position in future peace negotiations with Russia, may feel compelled to agree to the terms despite potential drawbacks.
The Washington Post echoed these sentiments in an editorial, cautioning that the new U.S. administration's approach could mark a return to foreign policies where powerful nations exert control over the resources of smaller countries.
(With input from Reuters)
Reference(s):
U.S., Ukraine reach minerals deal; experts warn of exploitative nature
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