Last Minute Deal Breaker? US-Ukraine Mineral Deal in Jeopardy!
by Alan Iverson in PoliticsA last-minute disagreement could derail a minerals deal between the United States and Ukraine that was expected to be signed on Wednesday. After weeks of intense negotiations, Ukrainian Prime Minister Denys Shmyhal had indicated the deal was nearly finalized, with Ukrainian Economy Minister Yulia Svyrydenko traveling to Washington for the signing. However, sources revealed differing views on the signing process. Ukraine wanted to finalize technical documents later, while the US insisted on signing all documents simultaneously. US Treasury Secretary Scott Bessent stated that Ukraine made last-minute changes, and the US was ready to sign if Ukraine reconsidered. The deal, which would give the US access to Ukraine's untapped mineral riches in exchange for investment, has been under negotiation since President Trump's return to the White House. Previous sticking points included security guarantees, with Trump initially refusing them. Zelensky had previously described the draft agreement as asking him to "sell" his country. The deal aims to create a joint investment fund with equal contributions and management shares. The US may count future military aid as a contribution. Ukraine possesses significant deposits of critical minerals, offering an alternative to China's dominance in the global market. A memorandum of understanding from the Biden administration outlined US investment promotion in exchange for economic incentives and good business practices from Ukraine.
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