Let’s Get Minerals

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Let’s Get Minerals
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Let’s Get Minerals

The Financial Times reported a top Ukraine official and the U.S. have reached an agreement on jointly developing Ukraine’s mineral resources, a move Kyiv hopes will strengthen relations with the Trump administration and secure long-term U.S. support. The deal follows intense negotiations after Ukraine rejected initial U.S. demands for a $500 billion stake in future mineral revenues.

The Financial Times reported:

The final version of the agreement, dated February 24 and seen by the FT, would establish a fund into which Ukraine would contribute 50 per cent of proceeds from the “future monetisation” of state-owned mineral resources, including oil and gas, and associated logistics. The fund would invest in projects in Ukraine.

It excludes mineral resources that already contribute to Ukrainian government coffers, meaning it would not cover the existing activities of Naftogaz or Ukrnafta, Ukraine’s largest gas and oil producers.

The deal is seen as a strategic move to maintain U.S. engagement and balance the administration’s recent actions, such as direct talks with Russia without Ukraine’s involvement. The agreement requires approval from Ukraine’s parliament, where opposition is expected. If ratified, President Zelensky may visit the White House for a signing ceremony. U.S. officials emphasize the deal’s importance for Ukraine’s economic stability and reconstruction. I hope he wears a suit!