Munich: Ukrainian President Volodymyr Zelensky announced on Saturday that he had blocked a Trump-led minerals deal between Ukraine and the United States, citing concerns over national security and lack of guarantees for Kyiv.
Why Zelensky Rejected the Deal
Speaking at the Munich Security Conference, Zelensky clarified that he had prevented ministers from signing the agreement, stating:
“I did not allow ministers to sign the agreement because it is not ready. In my opinion, it does not protect us. It is not ready to protect us, our interests.”
The proposed agreement would have given the US access to Ukraine’s vast reserves of rare earth minerals, which are crucial for advanced technologies. However, Zelensky emphasized that the deal lacked proper legal frameworks and security assurances for Ukraine.
Trump’s Push for Ukrainian Resources
Former US President Donald Trump has been vocal about reducing US financial aid to Ukraine while seeking greater access to Ukraine’s rare earth deposits. His administration has viewed these minerals as strategically important for reducing dependence on China.
Zelensky’s announcement came a day after Ukrainian officials submitted a draft of the agreement to the US and just three days after Trump had a conversation with Russian President Vladimir Putin. This call has raised concerns in Europe and Kyiv that Trump and Putin might attempt to end the war without Ukrainian involvement.
Ukraine’s Stand on the Agreement
Zelensky stated that while Ukraine welcomes foreign investments, agreements must be structured properly:
“It must be written out legally and correctly. If all this is connected with security guarantees, I don’t see this connection in the document yet.”
Ukraine has repeatedly emphasized that any economic cooperation with foreign powers must include strong security provisions, given the ongoing war with Russia.
What’s Next for US-Ukraine Relations?
This rejection of the minerals deal could add further strain to US-Ukraine relations, especially with Trump pushing for a reevaluation of American support for Kyiv. Meanwhile, Ukraine continues to seek stronger defense commitments from Western allies to ensure its sovereignty and economic security