Ukraine's resources: EU vs. US tug-of-war
The European Union has offered Ukraine its own deal on "critical materials," while U.S. President Donald Trump asserts that Washington is close to finalizing an agreement with Kyiv for rights to its vast natural resources, according to Politico.
European Commissioner for Industrial Strategy, Stéphane Séjourné, stated that he presented a counterproposal to Ukrainian officials whom he met in Kyiv during a European Commission visit commemorating the third anniversary of the Russian invasion.
“Of the 30 critical materials Europe needs, 21 could be supplied by Ukraine in a mutually beneficial partnership,” Séjourné said, according to AFP.
Ukrainian President Volodymyr Zelenskyy has so far refused to sign two draft agreements proposed by the Trump administration, stating that the terms—which include Ukraine relinquishing minerals, oil and gas revenues, as well as income from ports and other infrastructure valued at $500 billion—are too harsh.
He further emphasized: “The added value that Europe offers is that we will never ask for a deal that isn't mutually beneficial.”
President Trump has been making increasingly aggressive moves toward Ukraine for rights to its mineral wealth, seeking up to $500 billion in compensation for Washington’s support of Kyiv in repelling Moscow’s invasion.
President Zelenskyy has so far refused to sign two draft agreements proposed by the Trump administration, stating that the terms—which the New York Times reports included Kyiv relinquishing minerals, oil and gas revenues, along with earnings from ports and other infrastructure valued at $500 billion—were too severe.
“I will not sign something that 10 generations of Ukrainians will have to repay,” Zelenskyy told a press conference.
But President Trump insisted Monday that a “final agreement” is “imminent” and would include “rare earth elements” and other resources.
Ukraine possesses substantial deposits of critical elements and minerals, ranging from lithium to titanium, which are essential for the production of modern technologies and highly sought after in the global competition for resources. It also has vast reserves of coal, as well as oil, gas, and uranium, but much of this is in territories under Russian control.
Translation by Iurie Tataru
