Positive Advancements in Rare Earth Minerals Negotiations with the US: Zelensky
Click to start listening
Synopsis
Ukrainian President Volodymyr Zelensky reports substantial progress in negotiations with the US regarding a minerals deal essential for receiving US support. Key legal aspects are nearing completion, and both nations anticipate economic benefits from the agreement.
Key Takeaways
- Negotiators making significant progress with the US.
- The basic legal framework is nearly finalized.
- Agreement expected to bring economic benefits to both nations.
- The Ukrainian Parliament will vote on the final accord.
- New drafts may not recognize US aid as a debt.
Kyiv, April 17 (NationPress) Ukrainian President Volodymyr Zelensky stated that negotiators are achieving significant progress with the US in challenging discussions regarding a minerals agreement aimed at securing crucial US support.
"The fundamental legal aspects are nearly finalized, and if everything proceeds swiftly and constructively, the agreement will yield economic benefits for both nations," Zelensky expressed during his daily briefing on Wednesday.
Kyiv and Washington had aimed to finalize a deal concerning the extraction of Ukraine's vital minerals until a confrontation between US President Donald Trump and Zelensky in February temporarily halted progress on the agreement.
Trump seeks the arrangement — which is designed to provide the US with royalty payments on profits derived from Ukrainian mining of resources and rare minerals — as a form of compensation for aid extended to Ukraine by his predecessor, Joe Biden.
"The Ukrainian government team collaborating with the US on the economic partnership agreement is making commendable strides," Zelensky remarked.
He highlighted an update from Economy Minister Yulia Svyrydenko, who previously indicated that "notable progress" had been achieved in the negotiations.
Svyrydenko noted that Ukrainian officials had "modified several elements within the draft agreement" and that both parties would soon sign a "memorandum of intent".
She further mentioned that the Ukrainian Parliament would deliberate on any final agreement.
A high-ranking official familiar with the negotiations remarked that discussions were advancing "fairly quickly".
The source informed a major news agency that newer versions of the agreement seem to omit the recognition of US aid as a debt owed by Ukraine.
This assessment aligns with a prior report from Bloomberg News, indicating that Washington had relaxed its demand for Kyiv to repay aid provided since Russia's invasion of Ukraine in 2022.
The report stated that US Treasury Secretary Scott Bessent mentioned on Monday that a deal could potentially be signed as soon as "this week".
Last month, the Trump administration proposed a broader minerals agreement, which does not offer Ukraine future security guarantees but mandates that all income from the exploitation of natural resources by state and private enterprises across Ukrainian territory be placed into a joint investment fund.
