Ukraine intends to request amendments to a new draft deal with the United States on mineral resources, particularly for greater American investments.
According to reports, the US would gain control of all significant infrastructure and resource projects in Ukraine, with no stated expiration date.
Kyiv is concerned that the accord will jeopardise its attempts to join the European Union and will oblige it to reimburse all US military and economic aid granted since the beginning of the war.
If approved, the agreement would give the US significant influence over investment decisions in key sectors of Ukraine’s economy, including mining, oil and gas, and infrastructure such as ports, roads, and railways.
The proposal also states that the US would have first claim on profits transferred into a special reconstruction investment fund controlled by Washington.
It considers all financial and material aid provided to Ukraine since Russia’s full-scale invasion in 2022 as part of that fund.
On Friday, Ukrainian officials held a video call with their US counterparts, including legal experts, to seek clarification on the nearly 60-page draft agreement, according to sources.
Ukraine is still preparing its final proposals for amendments, the source said. The draft deal, which does not include US security guarantees, has faced criticism from opposition lawmakers in Kyiv.
A Ukrainian lawmaker Yaroslav Zheleznyak outlined the new terms on Thursday and criticized them for being “downright HORRIBLE” as they demand more resources than previous versions and contain no security guarantees, among other terms that favoured the US but not Ukraine.
At a joint press conference after Thursday’s security summit in Paris, Zelensky said the new deal should be studied by lawyers and ratified by Ukraine’s parliament, the Verkhovna Rada, before being signed into a framework agreement.
Zelensky said, “America is now changing these rules and immediately offering a full agreement, and a full agreement requires detailed study.”
Zelensky was supposed to sign an earlier version of the agreement on February 28 during his memorable encounter with US President Donald Trump at the White House, but that did not happen.
A brief suspension of US armaments and supplies to Kyiv ensued, but Ukrainian and US officials appear to have made peace in recent weeks, as evidenced by Kyiv’s acquiescence to a US-backed ceasefire arrangement, which now depends on Moscow’s compliance.
