Final Details Being Coordinated
$500 Billion Mineral Proposal Omitted
General Agreement on Joint Profit Fund
Foreign media reported on the 25th (local time), citing a Ukrainian government official, that the United States and Ukraine may soon sign a mineral agreement. With the mineral agreement signing imminent, negotiations to end the Russia-Ukraine war are also expected to accelerate.
According to Reuters and AFP, the official stated, "After both countries agreed on the terms of the mineral negotiations, government officials from both sides are working on the details."
He added, "Currently, there is consideration for Ukrainian President Volodymyr Zelensky to visit Washington D.C. on Friday (28th) to sign the agreement."
The official mentioned that the draft negotiated by the two countries includes references to Ukraine's security but does not specify the role of the United States.
He elaborated, "The draft contains a general clause stating that the United States will invest in a stable and prosperous sovereign Ukraine, work towards sustainable peace, and support efforts to ensure security."
Some provisions unfavorable to Ukraine, such as the initial U.S. demand for the provision of mineral resources worth $500 billion (about 716 trillion won), were reportedly omitted from the draft agreement. Previously, the U.S. had requested a 50% stake in rare earth elements from Ukraine as a condition for support but did not offer adequate security guarantees, leading President Zelensky to reject such proposals.
However, it is reported that both countries have generally agreed to jointly develop Ukraine's mineral resources and pool the profits into a joint fund.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
