US-Ukraine Mineral Agreement Nears... Zelensky Expects "Just Outcome"

Yonhap News

Volodymyr Zelensky, President of Ukraine, announced that the mineral negotiations with the United States are close to an agreement, while expressing hope that the details will be fairly adjusted.

On the night of the 21st (local time), President Zelensky stated on X (formerly Twitter), "A draft agreement on minerals between Ukraine and the United States is being prepared," adding, "This agreement will add value to the relationship between the two countries."

The United States and Ukraine have been negotiating a plan for the U.S. to secure a large amount of Ukraine's rare earth elements in exchange for investment and security guarantees.

While the U.S. has demanded a stake in rare earth development as compensation for the weapons and other support provided to Ukraine, Ukraine has accepted the joint development proposal but wants its national security guaranteed against threats from Russian forces.

In particular, since Ukraine insists on security guarantees as a key condition in previous discussions, this mineral negotiation is closely linked to the issue of a ceasefire.

Former U.S. President Donald Trump said at the White House the day before, "We will sign an agreement, and I hope it happens soon. The agreement is imminent," referring to the mineral negotiations.

Considering President Zelensky’s mention of drafting the agreement, it is highly likely that the negotiations will be concluded soon. Additionally, the agreement may provide insight into how the two countries will link the joint mineral development project with the ceasefire issue.

However, President Zelensky hinted at disagreements over the details.

He emphasized, "The most important thing is to correct the details so that the mineral negotiations can function effectively," and added, "I expect a just outcome."

Nevertheless, he did not specify which particular details need revision.

The United States is prioritizing a broad agreement to take part of Ukraine’s mineral resources in a joint venture form.

On the other hand, Ukraine places importance on the details regarding how the U.S. can guarantee security and how much stake it will take in the development.

This content was produced with the assistance of AI translation services.