Inside US-Ukraine mineral deal: Kyiv gets massive haircut, EU boost in big blow to Russia
The US and Ukraine have reached a deal over access to the latter’s natural resources, Bloomberg reported, citing a person familiar with the accord. Key aspects of the deal include Washington’s push for Kyiv’s European Union membership, providing ‘de facto’ security, and the formation of a Reconstruction Fund.
Trump and Zelensky met at the Vatican earlier when the duo were in Rome for the funeral of Pope Francis. (AP)
This comes as President Donald Trump has time and again spoken about being ‘frustrated’ with Russia and Ukraine amid failed ceasefire talks. According to Bloomberg, the deal will grant the US privileged access to new investment projects to develop Ukraine’s natural resources, including aluminum, graphite, oil, and natural gas.
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US and Ukrainian officials have discussed the key minerals deal for weeks. President Volodymyr Zelensky also visited the White House, where Trump and VP JD Vance snapped at him for being ‘ungrateful’. Bloomberg reported that the two sides had ‘agreed on the main accord’ but were discussing technical details spelled out in separate texts.
The deal will give US first claims on profits transferred into a special reconstruction investment fund that would be controlled by Washington. The US also agreed that only future military assistance that it may provide to Ukraine would count toward its contribution to the fund, Bloomberg added. The deal reportedly does not include the repayment of billions of dollars in aid already delivered since the start of Russia’s invasion.
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Washington also agreed not to hinder Kyiv’s moves to join the European Union, the report stated. Russia has time and again opposed Ukraine’s EU ambitions.
Key aspects of the US-Ukraine mineral deal
US Priority Access: The US will have first dibs on investment projects involving Ukraine’s aluminum, graphite, oil, and natural gas resources.
Reconstruction Fund: A US-controlled investment fund will receive priority profits from these projects, dedicated to rebuilding Ukraine’s infrastructure devastated by Russia’s invasion.
No Repayment of Past Aid: The agreement excludes repayment of prior US aid, with only future military assistance counting toward the fund.
Security Benefit: President Donald Trump emphasized that the U.S. business presence will deter “bad actors,” indirectly bolstering Ukraine’s security.
EU Alignment: The deal aligns with Ukraine’s aspirations to join the European Union, a non-negotiable condition for Kyiv.
