Abdelrahman
Ukrainian President Zelenskyy Declines Proposed U.S. Agreement on Rare Earth Minerals
MUNICH, Germany (AP) — President Volodymyr Zelenskyy of Ukraine recently instructed his ministers to refrain from endorsing a proposed agreement that would have granted the United States access to Ukraine’s rare earth minerals. Zelenskyy expressed concerns that the agreement primarily served U.S. interests and lacked adequate measures to protect Ukraine’s needs.
While discussing this matter with U.S. Vice President JD Vance during a bilateral meeting at the Munich Security Conference, Zelenskyy’s decision to delay signing was characterized as "short-sighted" by a senior official from the White House. Zelenskyy emphasized to The Associated Press, "I did not allow the ministers to sign the agreement, as I believe it does not sufficiently safeguard our interests."
The proposal, which emerged during Zelenskyy’s talks with Vance, did not specify any security guarantees in exchange for access to Ukraine’s strategic mineral resources. Senior Ukrainian officials noted that the U.S. envisioned using Ukraine’s rare earth minerals as compensation for existing military support and future aid from the Biden administration.
Ukraine boasts significant reserves of critical minerals essential for industries such as aerospace, defense, and nuclear energy. The prior Trump administration expressed interest in accessing these resources to diminish dependency on China; however, Zelenskyy insisted that any arrangements must be accompanied by firm security guarantees to counter future Russian threats. "It is crucial for me to connect security assurances with investments," he remarked.
Zelenskyy’s firm stance comes amid growing unease regarding the agreement’s terms, which were presented to Ukrainian representatives by U.S. Treasury Secretary Scott Bassent on a recent visit to Kyiv. One former senior Ukrainian official labeled the proposed terms as "colonial," citing an imbalance in the agreement’s implications.
In response to Zelenskyy’s hesitance, National Security Council spokesman Brian Hughes did not directly affirm the details of the offer but criticized Zelenskyy for overlooking a valuable opportunity presented by the Trump administration. Hughes argued that a deal involving Ukraine’s minerals would allow American taxpayers to reclaim their investment while fostering Ukraine’s economic growth. He asserted that close economic ties with the U.S. would serve as the most potent deterrent against future aggressions.
During discussions with their Ukrainian counterparts, U.S. officials focused on the commercial aspects of the mineral exploration project and potential partnerships. Nevertheless, the exact value of Ukraine’s mineral deposits and the necessary security measures in the event of ongoing Russian hostility remain unresolved.
It is imperative that any agreement adheres to Ukrainian law and gains public support, as highlighted by Kseniiia Orynchak, the founder of the National Association of Mining Industry of Ukraine. She underscored that the Constitution mandates that subsoil resources belong to the Ukrainian populace.
As this situation develops, Zelenskyy prepares a "counter proposal" to present to the U.S. soon. He underscored the necessity for any agreement to generate both financial resources and security for Ukraine, stating, "If we want to finalize any agreement, we must ensure it is beneficial and functional."
The ongoing discourse emphasizes the evolving dynamics between Ukraine and the U.S. as both nations navigate their strategic partnership amidst complex international relations.
This coverage includes contributions from AP writers Aamer Madhani in Washington, D.C., and Volodymyr Yurchuk and Susie Blann in Kyiv, Ukraine.
