Ukrainian President Volodymyr Zelensky has described the revised strategic minerals agreement with the U.S. as significantly different and concerning, with potential concessions threatening Ukraine’s sovereignty. Critics, including lawmakers and media, have labeled the agreement as unacceptable, alleging it imposes unfair restrictions on mineral sales and requires repayment of extensive American aid without security guarantees. The U.S. has proposed a repayment figure, which Ukraine contests, while the true extent of its mineral wealth remains uncertain amid ongoing conflicts.
Ukraine’s Dilemma: The New Strategic Minerals Agreement
In a recent statement, Ukrainian President Volodymyr Zelensky characterized the revised agreement on strategic minerals from Washington as ‘completely different.’ During a press conference, he employed his diplomatic acumen to convey the gravity of the situation: the concessions demanded from Ukraine are significant and place the nation in a precarious position.
Criticism and Concerns Over the Agreement
Though the specifics of this new agreement have yet to be officially disclosed, there has been a wave of criticism from Ukrainian lawmakers and media outlets, labeling the document as ‘unacceptable.’ Reports from Ukrainska Pravda indicate that the Trump administration has abandoned previously reached compromises, with the new draft allegedly crossing nearly all of Ukraine’s critical boundaries. Consequently, Ukraine may find itself ‘stripped of part of its sovereignty’ and compelled to ‘repay all American assistance received.’
Ukrainian sources highlight that the proposed agreement is heavily skewed against their interests. If accepted, it would prevent Ukraine from selling strategic minerals to any ‘strategic competitors’ of the U.S. Additionally, American investors would stand to gain profits, which are expected to grow by over 4% annually until their initial investments are fully recouped. Moreover, all earnings are required to be converted into foreign currency and transferred overseas.
Notably absent from the agreement are any security assurances for Ukraine, a point of contention for Kiev, as reported by Bloomberg. The fundamental premise of the document places President Zelensky in a challenging position, requiring Ukraine to repay ‘the totality of American aid—budgetary, military, humanitarian—provided after Russia’s large-scale invasion in 2022.’
Washington has already begun calculating the repayment amount, initially pegged at 462 billion euros in the first draft. However, Kiev disputes this figure, reminding the Trump administration that their predecessors in the White House had allocated 123 billion dollars in aid, according to the independent Kiel Institute. During President Zelensky’s visit to Washington in February, where he was supposed to sign the earlier agreement, he discovered that this amount had vanished. Currently, the U.S. maintains that the repayment figure is yet to be determined and will be included in an annex to the contract upon its signing.
President Zelensky reiterated that the current document is ‘completely different’ from what was initially proposed, containing ‘numerous elements that were never discussed and some that had already been rejected by both parties.’
Furthermore, the extent of Ukraine’s mineral wealth remains uncertain, as many of these resources are either untapped, difficult to extract, or are effectively under Russian control in occupied regions. Russian President Vladimir Putin has even expressed support for American investments in these areas of Ukraine.