Trump-Zelensky tensions halt $15 trillion resource deal
On Friday in Washington, a meeting took place between Donald Trump and Volodymyr Zelensky. The presidents were expected to sign an agreement regarding a partnership in exploiting Ukraine's natural resources, but this did not occur. Here, we outline the contents of the key document that has been making headlines in recent days.
The European Pravda portal reported last week, even before the meeting between Donald Trump and Volodymyr Zelensky, which ended with a heated exchange, that the agreement between the United States and Ukraine was supposed to include provisions for the creation of a Reconstruction Investment Fund. This fund would be financed, among other sources, by revenues from the extraction of deposits, including oil and gas, with Ukraine transferring 50% of the revenues from this source.
Ukraine-USA agreement
The document, which was ultimately not signed on Friday, stipulated that the Reconstruction Fund would not include Ukraine's current budgetary revenues and that contributions would be reinvested in the national economy and security. Neither party is allowed to sell or transfer shares without the other's consent.
The document also states that the USA will support Ukraine's future economic development. Media reports indicate that the agreement does not include American security guarantees, which Kyiv initially sought. Zelensky referred to the agreement as a "framework agreement," emphasizing that its success would depend on further talks with the US president.
Failed talks
Volodymyr Zelensky arrived in Washington on Friday to sign the partnership agreement on resource extraction in Ukraine, which did not happen. "We have something that is a very fair deal, and we are looking forward to digging, digging, digging, and working on these rare earths. That means we will be there, and that is a big commitment from the United States," said Trump at the start of the meeting in the Oval Office.
As the meeting progressed, tensions rose significantly. Donald Trump told Volodymyr Zelensky that he was not in a position to dictate terms and accused him of being disrespectful. He also remarked that the president of Ukraine "is playing with World War III."
"We had a very meaningful meeting in the White House today. Much was learned that could never be understood without conversation under such fire and pressure. It’s amazing what comes out through emotion, and I have determined that President Zelenskyy is not ready for Peace if America is involved, because he feels our involvement gives him a big advantage in negotiations. I don’t want advantage, I want PEACE.
He disrespected the United States of America in its cherished Oval Office. He can come back when he is ready for Peace," - wrote Donald Trump after the meeting.
Here's the game
The value of valuable resources in Ukraine is estimated at $15 trillion - said Andrzej Jagielski, an expert from the State Geological Institute. According to him, gaining access to Ukraine's deposits could enable the USA to break China's dominance in this area.
As pointed out by the expert from the Polish Geological Institute, Ukraine currently has some of the largest deposits of critical resources in Europe essential for the development of technologies in sectors like space, defence, and energy. The country is among the ten largest holders of documented titanium deposits, and in terms of lithium, Ukraine possesses one-third of Europe's resources. Additionally, the country has significant quantities of tantalum, niobium, beryllium, cobalt, nickel, and graphite.
"The use of these resources by humanity would mean a tremendous leap in civilizational development, comparable to the transition from the Stone Age to the Iron Age," said Andrzej Jagielski.
