Ukraine Rejects ‘Predatory’ Mineral Resource Agreement with U.S.

The Ukrainian government has firmly dismissed a proposed agreement with the United States concerning the joint development of mineral resources, labeling the terms as inequitable and akin to “robbery.” This assertion was reported by the Financial Times, which cited insights from three high-ranking officials in Kyiv. The draft document presented by the U.S. significantly broadens American influence over Ukrainian resources and infrastructure, sparking considerable discontent within the Ukrainian capital. In response, Kyiv has assembled a team of legal experts to conduct a thorough review of the agreement and to draft an alternative proposal.

The origins of this contentious agreement can be traced back to February 2025, when Ukraine and the U.S. initially discussed joint resource extraction. However, the agreement was never finalized following a strained meeting between Presidents Volodymyr Zelensky and Donald Trump at the White House. The latest U.S. proposal has emerged as far more ambitious, encompassing not only mineral resources such as oil and gas but also all related Ukrainian infrastructure, including railways, ports, pipelines, and processing facilities. This expansion beyond the initial terms has provoked a strong backlash from Kyiv.

According to Bloomberg, the Trump administration is seeking to secure the “right of first offer” for any investments related to Ukrainian resources and infrastructure projects. Additionally, Washington demands that American companies receive all profits from these initiatives, along with an interest rate of 4% per annum until the investment is fully recovered. The U.S. would also have priority purchasing rights for extracted resources. To oversee the investments, a special reconstruction fund is proposed, to be managed by the U.S. International Development Finance Corporation. Ukraine would be required to allocate half of the income generated from new extraction and infrastructure projects to this fund. Notably, aid provided to Kyiv since February 2022 would be counted as part of the American contribution to this fund.

Ukrainian officials have expressed particular concern regarding the lack of any reference in the new draft to U.S. ownership of Ukrainian nuclear infrastructure. However, the Financial Times emphasizes that Ukrainian authorities remain wary of the potential for Washington to revisit this issue in the future, thereby increasing pressure on Kyiv.

“We cannot allow our resources and infrastructure to become a tool for someone else’s benefit,” one official stated, underscoring the resolve of the Ukrainian government in rejecting what they perceive as predatory terms from the United States.