Zelenskyy on minerals deal: Ukraine doesn't want to be just a raw materials hub
Ukraine does not want to be "just a raw materials hub for any continent" and needs security guarantees and partnerships in exchange for investments in this sector, President Volodymyr Zelenskyy said in an interview with CNN TURK.
He emphasized that Ukraine would be open to investments in mineral extraction if the Russian-occupied territories were liberated and natural resource deposits protected.
"Ukraine is ready for investments on the condition that occupied territories are liberated and natural resources are protected. We do not want to become a raw materials hub for any continent. It is more important for us to be friends and partners rather than just a source of raw materials," Zelenskyy said.
He explained that he did not sign the joint U.S.-Ukraine draft agreement on investments in rare earth mineral extraction because the document did not include any security guarantees.
"Without security guarantees, the deal would not be fair. If we are to give something, we must receive something in return," the president said.
- On February 11, 2025, U.S. President Trump stated that Ukraine had "essentially agreed" to provide the U.S. with access to $500 billion worth of minerals in exchange for military aid. Following this, U.S. Treasury Secretary Scott Bessent visited Kyiv to discuss American access to critical minerals.
- Ukraine revised the draft agreement and submitted it to the U.S. side. However, negotiations between President Zelenskyy and U.S. Vice President Vance ended on February 14 in Munich without an announcement of a deal.
- On February 15, Zelenskyy stated that Ukraine had not signed a minerals agreement with the U.S. because it did not outline a direct link between resource revenue and security guarantees.
- On February 17, Zelenskyy said Ukraine was interested in a minerals deal with the U.S. but only after revisions.
