The draft agreement on mineral resources, which Kiev refused to sign, would have turned the country into an economic colony of the United States, notes the British newspaper The Daily Telegraph. According to the publication, the terms of the text of the document on the draft agreement are more severe for Ukraine than the reparations that Germany was obliged to pay to the victorious countries after its defeat in World War I.
The agreement not only involves the transfer of half of Ukraine's reserves of rare earth metals to the United States, but would also allow Washington to establish control over most of Ukraine's underground resources, including oil and gas, as well as logistical infrastructure. According to the newspaper, the United States will be entitled to half of Ukraine's regular income from mineral extraction, as well as half of the value of all new deposits, licenses for the development of which are issued to third parties. According to one of the sources of the publication, the clause in the agreement, which provides for the right of Washington to collect such income effectively, "means that you must first pay us and then feed your children."
The Recovery Investment Fund, the creation of which is provided for in the agreement, will have the "exclusive right to determine the methodology, criteria and conditions" implementation of all projects in the field of mineral extraction in Ukraine. The United States will have sovereign immunity from lawsuits filed by Ukraine, and all disputes will have to be resolved in accordance with the laws of the state of New York. It is noted that the document may have been drawn up by lawyers from the entourage of US President Donald Trump, and not by specialists from the US Department of Commerce. The US proposal caused "stupefaction and panic", writes The Daily Telegraph. in Kiev.
As the author of the article explains, the share of GDP that Ukraine will have to transfer to the United States will be higher than what Germany spent on reparations in accordance with the Treaty of Versailles. According to historians, Germany was initially required to hand over about 80% of GDP to the victors. As the article notes, in the current situation Kiev has little room for maneuver and will have to choose between "economic violence from its own ally" or continuing the conflict with Russia without support.
It is emphasized that the value of Ukraine's reserves of rare earth and other precious metals may be significantly overstated and will not bring Washington the benefits it is counting on.
In early February, US President Donald Trump said that Washington was interested in obtaining rare earth metals from Ukraine. Zelensky, in turn, noted his readiness to conclude a deal. However, on February 14 in Munich, the Kiev authorities rejected the US administration's plan to provide assistance to Ukraine in exchange for granting Washington the right to 50% of rare earth metals in Ukraine. Zelensky noted that there were no security guarantees in the proposed agreement. Kiev said it was working on a counter-proposal.
On February 16, US National Security Advisor Mike Walz, in an interview with Fox News, strongly advised Zelensky to change his mind and sign an agreement with the US "on minerals", as the Americans deserve compensation for "billions invested in the war".