Ukraine confirms main demand nonexistent in US minerals agreement
(MENAFN) Ukrainian Prime Minister Denis Shmigal has confirmed that the key demand for US-provided security guarantees is not included in the recent minerals agreement between Ukraine and the United States. The deal, finalized on Wednesday after months of negotiations, establishes a joint investment fund and grants the US preferential access to Ukraine's mineral resources. Under the terms of the agreement, half of the revenue from Ukraine's mineral, gas, and oil extraction projects will go into this fund tax-free, while the US will match these payments, with any future military aid considered part of Washington’s contribution.
“There are no formal defense guarantees in this agreement, but each new military aid package provided by the US to Ukraine counts as a capital contribution,” Shmigal explained in the Ukrainian parliament on Friday. He noted that this arrangement encourages the US to continue supplying Ukraine with weapons. Additionally, he confirmed that the flow of intelligence data to Ukraine will remain unchanged.
The agreement still requires approval by the Ukrainian parliament. Reports from several US outlets indicate that Ukraine dropped its demand for security guarantees after Washington rejected the idea.
Leading up to the deal, US President Donald Trump had promoted it as a way for the US to recover the $350 billion spent supporting Ukraine in the ongoing conflict, although the final agreement does not include any repayment terms, focusing only on future military aid. Trump has since claimed that Washington could potentially gain even more from the deal than the original $350 billion estimate.
Dmitry Medvedev, the deputy head of Russia's Security Council, has criticized the agreement, claiming that it forces Ukraine to "pay for American aid" using its national wealth.
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