Kiev wanted to involve the European Union (EU) in negotiations on minerals deal with the United States due to the bloc’s financial support for Ukraine’s state budget, Ukrainian Deputy Prime Minister for European and Euro-Atlantic Integration Olha Stefanishyna said on Thursday.
The agreement on Ukraine’s natural resources, including rare earth metals, outlines provisions for joint ownership and decision-making regarding the use of the recovery fund.
Stefanishyna emphasised that future negotiations cannot proceed without the EU and other partners who have provided significant financial support to Ukraine’s state budget and with whom Ukraine has legal commitments under EU accession talks.
“We cannot plan future negotiations without the participation of the EU and other partners,” Stefanishyna was quoted as saying by Ukrainian news outlet Рravo.ua.
“Therefore, the number of participants in the negotiations will expand, and this is the key task for the Ukrainian delegation.”
The official added that the agreement on natural resources with the U.S. was not an international treaty, unlike the agreement on the creation of the recovery fund.
Signing the agreement did not impose immediate legal or financial obligations on Ukraine.
Stefanishyna also noted that the U.S. government reserves the right to protect facilities that generate revenues for the fund.
On February 26, the Ukrainian cabinet approved an agreement with the U.S. on a joint investment fund for Ukraine’s reconstruction, as announced by Ukrainian Prime Minister Denys Shmyhal.
Ukraine would contribute 50 per cent of future revenues from its natural resources to the fund, while the U.S. would contribute funds, financial instruments, and other assets for exclusive investment in Ukraine’s reconstruction projects.
On February 28, U.S. President Donald Trump met with Ukrainian President Volodymyr Zelenskyy in Washington to finalise the minerals deal.
However, the discussions fell apart following a disagreement in the Oval Office.
Trump’s senior staff requested the Ukrainian delegation to exit the White House and cancelled a planned joint press conference.
Although the deal had already been approved by the Ukrainian government, Trump decided to cancel the signing.