The agreement followed months of tense negotiations. But the U.S. and Ukraine have finally signed a deal that is expected to give Washington access to the country's critical minerals and other natural resources, an agreement Kyiv hopes will secure long-term support for its defense against Russia.
Ukrainian officials claim the version of the deal signed Wednesday is far more beneficial to Ukraine than previous versions, which they complained reduced Kyiv to a junior partner and gave Washington unprecedented rights to the country's resources.
The Ukrainian parliament must still ratify the agreement would establish a reconstruction fund for Ukraine that Ukrainian officials hope will be a vehicle to ensure future American military assistance.
Bob Maginnis is a senior fellow for national security at Family Research Council.
“The Ukrainians are going to get really more of what they're looking for, the investment by the U.S., which their economic minister is touting as a long-range U.S. involvement which means long-range future American military assistance. So that's probably true because we're not going to allow our companies to invest heavily in Ukraine and be sacrificed at the foot of (Russian President Vladimir) Putin (shown right)."
The deal covers minerals, including rare earth elements, but also other valuable resources including oil and natural gas, according to details released by Ukrainian officials. It does not include resources that are already a source of revenue for the Ukrainian state. In other words, any profits under the deal are dependent on the success of new investments.
While Trump has repeatedly expressed interest in Ukraine's rare earth elements, it unclear what other minerals might be part of the deal. Earlier this year, Andrii Yermak, the head of Ukraine’s presidential office, said it could include lithium, titanium or uranium.
The agreement ensures full ownership of the resources remains with Ukraine, according to Ukrainian officials. The state will determine where and what can be extracted.
Finally, the beginning of the end?
Maginnis thinks the deal will lead to some resolution to the conflict.
“And it's not going to be one that is totally of Putin's making, but one I think is a combination. Putin's going to wait out Trump, and he'll hope for a better circumstance going into the future. Perhaps a Democrat will return to the White House, and he'll have his way with Ukraine."
