Washington [US], May 1: On the morning of May 1 (Vietnam time), the United States and Ukraine signed a mineral agreement after a two-month delay, officially validating a new form of Washington's commitment to Kyiv after the United States ended military aid to Ukraine.
On the minerals deal, Ukraine said it had secured key interests following a protracted negotiation effort, including full sovereignty over the country's rare earth metals, AFP reported on May 1.
U.S. President Donald Trump initially demanded rights to Ukraine's mineral stockpiles to compensate for billions of dollars in U.S. weapons sent to Ukraine under President Joe Biden's administration.
After a period of hesitation, Ukraine accepted the mineral deal as a guarantee of long-term investment from the United States. It is reported that the two sides signed the agreement during Ukrainian President Volodymyr Zelensky's visit to the White House on February 28, but the controversy in the Oval Office has delayed it until now.
U.S. Treasury Secretary Scott Bessent announced the signing, saying the minerals deal reflects the Trump administration's commitment to a long-term peace process for Ukraine.
In Kyiv, Ukrainian Prime Minister Denys Shmygal said on state television that the deal with the United States was "good, equal and beneficial."
On his Telegram account, Shmygal said the two countries would set up a Reconstruction Investment Fund, with each side holding 50% of the voting rights. At the same time, Ukraine will not have to repay any "debt" for billions of dollars worth of weapons and other U.S. assistance since Russia launched its special operation in Ukraine.
"The profits from the investment fund will be fully reinvested in Ukraine," according to the prime minister.
On Facebook, Ukraine's Economy Minister Yulia Svyrydenko said the mineral deal would provide financing for oil and gas projects, as well as related infrastructure.
Source: Thanh Nien Newspaper
