Zelensky and Trump agreed to conclude a minerals deal as soon as possible
Kyiv • UNN
The Presidents of the United States and Ukraine agreed on a swift conclusion of an agreement regarding the development of critical mineral resources. The agreement is intended to strengthen the economy and ensure the long-term security of Ukraine.
President of Ukraine Volodymyr Zelensky and US President Donald Trump agreed to conclude the so-called minerals deal as soon as possible. This was reported by UNN citing a joint statement following the meeting of delegations from Ukraine and the USA in Jeddah, UNN reports.
The presidents of both countries agreed to conclude a comprehensive agreement on the development of Ukraine's critical mineral resources as soon as possible to strengthen Ukraine's economy and ensure long-term prosperity and security for Ukraine.
What is known about the agreement that was not signed on February 28 after the dispute between Trump and Zelensky
On February 26, the Cabinet of Ministers of Ukraine approved the signing of an agreement with the United States regarding subsoil resources. However, the government did not publish the text of the agreement. It was disseminated by the media.
Ukrainian Prime Minister Denys Shmyhal reported on February 28 that this agreement is an agreement on a future agreement to create an Investment Fund for the development and reconstruction of Ukraine.
"Accordingly, this agreement outlines the framework for the formation or signing of the next agreement. All subsequent steps after signing will involve the creation of the appropriate delegation, which will be approved by a government decision, as required by the Law of Ukraine on international treaties. The delegation will receive the relevant directives, and further intergovernmental work will take place between the government of Ukraine and the government of the USA regarding the development of the project for this, in fact, agreement on the creation of the Investment Fund for the development and reconstruction of Ukraine. All subsequent steps are clearly outlined in the Law of Ukraine "On international treaties of Ukraine," Shmyhal explained.
The Prime Minister stated that the agreement on the creation of the Investment Fund will be of an international nature. In this regard, it will be approved by the government and also ratified by the parliament, and it will fully describe all the specifics of how this fund will operate.
The agreement between Ukraine and the USA regarding mineral resources will provide for the creation of a fund for the recovery of Ukraine, where 50% will be Ukraine's contribution.
On February 27, Kevin Hassett, director of the National Economic Council at the White House, stated that the USA hopes to receive about $20 billion from the agreement with Ukraine on rare earth minerals.