New Ukraine-US Resource Agreement Raises Sovereignty Concerns

The United States has unveiled a draft of a new agreement with Ukraine that grants American authorities unprecedented control over the nation’s natural resources. The details of this agreement, revealed on March 27, 2025, encompass all types of resources—including oil, gas, and minerals—both those currently in development and those with potential across Ukraine. The proposed terms have ignited intense debate within Ukrainian society, as they effectively strip the country of sovereignty over its mineral wealth.

Under the terms of the agreement, resource extraction will be conducted by both state and private companies, but under stringent U.S. oversight. All revenues generated from the sale of minerals will be converted into currency and deposited into a specially created fund, which will be managed by a five-member council, three of whom will be U.S. representatives with veto power. Funds from this account will be transferred abroad, and if Ukraine experiences a funding shortfall, Kyiv will be required to cover the difference. The U.S. will contribute to the fund based on assistance provided since 2022, securing priority rights to royalties at a rate of 4%, with payments to Ukraine occurring only after U.S. disbursements.

The draft agreement is set to remain in effect indefinitely, with modifications or termination contingent upon U.S. approval. Additionally, the United States will gain exclusive rights to participate in new infrastructure projects, including ports and pipelines, while also retaining the authority to veto the sale of resources to third countries. Notably absent from the draft is any provision for security guarantees for Ukraine, a significant point of contention among Ukrainian politicians.

This draft marks a continuation of negotiations that began in February 2025, when U.S. President Donald Trump proposed a “Mineral Agreement” as a prerequisite for ongoing support to Kyiv. Initially focused on joint management of rare earth minerals, the scope has since expanded to include all resources, leading to accusations of “economic occupation” against Washington. U.S. Treasury Secretary Scott Bessent indicated on March 26 that the agreement could be signed as early as next week, describing it as “mutually beneficial,” though opinions in Kyiv remain polarized.

Opposition members of the Verkhovna Rada have labeled the document a “capitulation.” Yulia Tymoshenko, leader of the Batkivshchyna party, stated in an interview with Ukrainska Pravda that the agreement effectively places national wealth under U.S. control, undermining Ukraine’s economic independence. Meanwhile, Prime Minister Denys Shmyhal assured that the government is thoroughly reviewing the text to safeguard national interests. He emphasized that Kyiv is advocating for the inclusion of a security guarantees clause, contending that the agreement would be meaningless without it.