In a significant development that signals a strong commitment to a free, sovereign, and prosperous Ukraine, the United States and Ukraine have finally inked an “economic partnership agreement” that will grant Washington access to Kyiv’s rare earth minerals in exchange for establishing an investment fund in Ukraine. The deal marks a major milestone in the ongoing efforts of both nations to strengthen their economic ties and promote mutual growth.
The road to this agreement was not without its challenges, however. Weeks of intense negotiations saw the talks turn bitter at times, even temporarily derailing Washington’s aid to Ukraine. But despite these setbacks, the two sides remained resolute in their commitment to a successful outcome. The US Treasury Department announced the signing of the agreement on Wednesday, with Secretary Scott Bessent emphasizing that it signals a clear message to Russia: the Trump Administration is dedicated to a peace process centered on a free, sovereign, and prosperous Ukraine over the long term.
According to Economy Minister Yulia Svyrydenko, the terms of the agreement ensure “full ownership and control” remain with Ukraine. She stressed that all resources on Ukrainian territory and in its territorial waters belong to Ukraine, with the state determining what and where to extract. Subsoil, too, will remain under Ukrainian ownership – a point clearly established in the Agreement.
The signing of this deal comes just hours after a last-minute disagreement over which documents to sign threatened to derail the agreement altogether. The episode serves as a reminder that even the most complex negotiations can be fraught with tension and unpredictability. Nevertheless, both sides have emerged from these talks stronger and more united than ever before.
One of the key sticking points in the negotiations was the question of security guarantees – whether the US would provide them as part of the deal. Trump initially refused to offer such guarantees, stating he wants Ukraine to sign the agreement first and discuss security later. This stance led Zelensky to describe the draft agreement as asking him to “sell” his country. However, Ukrainian officials have since indicated that they believe US investment and the presence of American companies in Ukraine will make the US more interested in Ukraine’s security.
The details of the agreement remain undisclosed for now, but Prime Minister Denys Shmyhal has revealed that it will establish a joint investment partnership fund with equal contributions from both countries. The fund is intended to facilitate investments in the development and recovery of Ukraine, with the American side also considering new military aid as a contribution to this fund.
The significance of this deal cannot be overstated. Ukraine’s mineral riches have long been eyed by its allies, particularly given the country’s deposits of 22 critical materials classified by the US Geological Survey. These include rare earth minerals and other strategically important materials that are crucial for the production of electronics, clean energy technologies, and certain weapon systems.
The global production of these critical materials has historically been dominated by China, leaving Western countries eager to find alternative sources. The signing of this agreement signals a major shift in the global landscape, as Ukraine takes its rightful place as a key player in the world’s supply chain for these vital resources.
As we look to the future, it is clear that this economic partnership agreement marks a new era of cooperation between the United States and Ukraine. By working together, both nations can unlock the vast potential of Ukraine’s mineral riches while fostering a stronger, more resilient relationship built on mutual trust and respect.
Sourced from https://www.cnn.com/