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US-Ukraine Agreement/ Agreement reached on minerals

2025-02-26 08:23:00, Kosova & Bota CNA

US-Ukraine Agreement/ Agreement reached on minerals

Ukraine and the US have agreed on the terms of a major minerals deal.

"We have indeed agreed to a number of good changes and we see it as a positive outcome," an official said, without providing further details.

Media reports say Washington has dropped initial demands for the right to $500bn (£395bn) in potential revenues from natural resource exploitation, but has not provided strong security guarantees to war-torn Ukraine - a key Ukrainian demand.

US President Donald Trump said he expected his Ukrainian counterpart Volodymyr Zelensky in Washington to sign the deal this week, after the two leaders exchanged strong words about each other.

Ukrainian officials said Kiev was ready to sign the agreement on the joint development of its mineral resources, including oil and gas, after the US dropped demands for the right to $500 billion in potential revenue from the deal.

Although the text lacks clear security guarantees, officials argued that they had negotiated much more favorable terms and described the agreement as a way to expand relations with the US to support Ukraine's prospects after three years of war.

The Ukrainian official said the terms were agreed after "everything unacceptable was removed from the text and it is now more clearly described how this agreement will contribute to the security and peace of Ukraine."

Details of the deal are not yet known, but a major sticking point has been the Trump administration's demand for a share of $500 billion in Ukraine's rare earth and other minerals in exchange for aid the US had already offered Kiev, which had previously been rejected by Zelensky. /CNA

 





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