The Ukrainian parliament has unanimously ratified a landmark minerals deal with the United States, aiming to secure military assistance to deter future Russian aggression. The agreement grants the US priority access to Ukrainian minerals and sets up an investment fund for Ukraine’s reconstruction.
Ukraine’s First Vice Prime Minister Yulia Svyrydenko said the deal is “the foundation of a new model of interaction with a key strategic partner.” According to Svyrydenko, the agreement is equitable, with a 50-50 management structure, where “neither side has an advantage, there is no dictatorship from either side, and decisions are taken by consensus.”
Svyrydenko also underlined that the deal has no “debt provisions,” absolving Ukraine from earlier US demands that it cover the repayment of billions of dollars in military aid supplied by Washington since Russia invaded in February 2022. “We have managed to ensure that the agreement is equitable. The key principle is that management is 50-50. Neither side has an advantage, there is no dictatorship from either side, and decisions are taken by consensus,” Svyrydenko said.
The deal was signed by the US and Ukraine at the end of April, despite initial disagreements and a testy Oval Office meeting between President Volodymyr Zelenskyy and US President Donald Trump in February. Kyiv had hoped for security guarantees in exchange for preferential access to Ukraine’s mineral resources, but Washington refused, arguing that boosting its business interests in Ukraine would itself act as a bulwark against Russia.
The ratification of the minerals deal has raised hopes of revived US support for Ukraine. Svyrydenko expects the deal to be operational in a few weeks, potentially marking a significant step towards strengthening Ukraine’s defenses against Russian aggression. As the situation in Ukraine remains fluid, the international community watches closely for developments and potential implications for the region.