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Ukraine and US strike deal on vital mineral resources amidst ongoing conflict – source | Global News


Ukraine and the United States have agreed on terms for a crucial minerals deal, according to a Ukrainian government source. The deal could lead to a new long-term partnership between the two countries after weeks of tense exchanges. The agreement, set to be signed soon, will create a fund to invest in Ukraine’s minerals and rare earth materials. Initially, the US had demanded a right to $500 billion in potential revenue from the resources, but this demand has been dropped. President Zelenskyy had deemed the demand as not serious.

The deal is seen by Trump as a fair way to recoup the billions of dollars the US has given Ukraine in support against Russia’s invasion. However, the agreement does not include security guarantees for Ukraine in the event of a ceasefire with Russia, something Kyiv has been asking for. The agreement is part of a bigger picture of partnership between the two countries, with more details expected to be discussed in the future.

The fund will be filled with a share of minerals and natural resources, with profits to be shared between the US and Ukraine. Deputy Prime Minister Olha Stefanishnya, who led the negotiations, stated that the deal is focused on using resource revenues for the security and reconstruction of Ukraine. The final version of the agreement is dated 24th February, as reported by the Financial Times. More information about the partnership is expected to unfold in future discussions.

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