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Ukraine Rare Mineral Deal Reached With United States
Ukrainian officials are saying Kyiv has agreed to terms with President Donald Trump on a minerals deal that they hope will pave the way for a long term security commitment from the United states.
The agreement involves the joint developing of the country’s mineral resources including oil and gas, and was made after a right to $500 billion in potential revenue was dropped by the United States.
Kyiv views the deal as favorable saying it strengthens the relationship between Ukraine and the U.S. while giving them greater prospects of rebuilding after three years of war.
The countries Deputy Prime Minister said “The minerals agreement is only part of the picture. We have heard multiple times from the US administration that it’s part of a bigger picture”
The final version of the agreement would establish a fund into which 50% of the money from the “future monetization” of state-owned mineral resources would be contributed by Ukraine, including oil and gas, and associated logistics.
The fund would invest in projects in Ukraine.
White House Press Secretary Karoline Leavitt talked about the mineral deal during a news conference on Tuesday
Leavitt: "It's critical that this deal is signed. He expects President Zelensky to sign a deal. This is to recoup American tax dollars that have been funding Ukraine's national defense, and it's also great for the Ukrainian people who have been put through hell because of this war, and it will create a lasting economic partnership as Ukraine will need to rebuild their country because of this brutal war."
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