The new version of the mineral resources agreement for Ukraine is stricter than the previous one, which Kyiv rejected. President Trump's team is firmly pushing for the new contract. This is reported by NV citing five individuals involved in drafting the revised agreement.
It is noted that the updated version of the contract was received by the Ukrainian side on Friday, February 21. The agreement encompasses not only mineral resources but also gas and oil. Future revenues from ports are not included in the agreement.
It is indicated that the U.S. proposes to establish a fund for resource management and to retain 100% ownership of it, subsequently distributing contributions from both parties at a ratio of two to one, where the Ukrainian side contributes two-thirds from future extraction revenues, while the American side contributes one-third, already provided in the form of weapons. The American side suggests setting the fund's size at $500 billion, according to the publication.
"The American side considers the agreement purely commercial and excludes discussions of security guarantees from this arrangement. Additionally, under the agreement, the U.S. does not assume any investment obligations. The Ukrainian side proposes to reassess the fund's volume and to stipulate that the fund's money be used exclusively for investments in Ukraine," the publication states.
Sources involved in the negotiations believe that Kyiv will be compelled to sign it soon to unblock cooperation with the U.S. regarding peaceful resolution efforts.
As reported by NYT, the new draft agreement includes provisions regarding revenues from territories currently under Russian control. This information was confirmed by four current and former Ukrainian officials and a Ukrainian businessman familiar with the text of the agreement.
It is noted that if these territories are returned to Ukraine, the share of revenues from there in the established fund will be 66%.
"Currently, Russia occupies about one-fifth of Ukraine's territory, including significant parts of the resource-rich Donbas region," the article states.
The jurisdiction for dispute resolution is designated as the New York court, which has "raised concerns from the Ukrainian side."
Mineral Resources Agreement - Current Status
It was reported by Sky News, citing a source familiar with the negotiation process, that Ukrainian President Volodymyr Zelensky is not ready to agree to sign the proposed agreement, as Ukraine sees "a number of problematic issues" in the draft presented by the U.S.
Meanwhile, CNN noted that in the mineral resources and other natural resources agreement, the U.S. demands much more from Ukraine than has been spent on its defense.