The Ukrainian President Volodymyr Zelensky praised the agreement on Wednesday “truly fair” signed with the United States and bearing on access to the mining resources of Ukrainea document that has been in negotiations for weeks.
“The agreement has changed significantly during the preparation process. It is now a truly equitable agreement that creates significant investment opportunities in Ukraine, “said Zelensky in his daily address.
How does the agreement work?
The two states must set up an investment fund funded and managed equally for the reconstruction of Ukraine.
Ukraine will bring to the fund royalties drawn from “new” licenses on its raw materials (oil, gas, rare ores) while retaining control of all its natural resources and infrastructure.
The agreement covers 57 types of mineral resources, including gas, oil, titanium, lithium and rare minerals.
If the document recognizes an important American “financial support” provided to Ukraine since 2022 it does not mention any debt to reimburse for this assistance.
On the other hand, it provides that the new American military aid will be recorded as a contribution to the fund. The profits released by the fund will be reinvested in the country, according to kyiv.
The agreement also stipulates that its provisions should not prevent Ukraine membership in the European Union and that it will be subject to the Ukrainian Parliament for ratification.
What natural resources in Ukraine?
According to various estimates, Ukraine alone concentrates some 5 % of the global mining resources, but not all are exploited or easily exploitable. Others are in territories occupied by Moscow.
The country is in fortieth position of mineral producing countries, all categories combined (coal included), according to the publication of World Mining Data in 2024.
Ukraine is therefore sitting on three strategic ores: manganese (8th world producer), titanium (11th) and graphite (14th), essential for electric batteries.
From this last ore, the country concentrates “20 % of the world’s estimated world resources”, according to the French Office for Geological and Mining Research (BRGM).
Ukraine is also according to the BRGM “one of the main European countries in terms of potential” of lithium, also essential for batteries.
On the other hand, it is not specially renowned for its rare land reserves, a very specific category of 17 metals essential to the world economy (screens, drones, wind turbines, electric motors, etc.).
No security guarantees
Ukraine has repeatedly stressed that any agreement on its natural resources should include solid and long -term security guarantees in order to dissuade Moscow from attacking it again.
But the document signed on Wednesday mentions no specific American security commitment.
However, a press release from the US Treasury spoke of “the large -scale invasion” of Ukraine by Russia, a very rare in Washington’s mouth since the rapprochement with Moscow operated by Trump.
According to the Treasury Secretary Bessent, the agreement shows “that the United States has an economic interest in Ukraine”. “This is a signal addressed to Russian leaders,” he told Fox News.
