Zelensky Praises Groundbreaking Equal Minerals Agreement with US

KYIV: Ukrainian President Volodymyr Zelensky has praised a new minerals agreement with the United States, describing it as a “truly equitable” partnership that will benefit both parties.

This statement was made shortly after Russian missile strikes claimed two lives and injured 15 as a reaction to the agreement signed on Wednesday, which focuses on the joint development of Ukraine’s vital mineral resources.

The partnership, which took months to finalize, will facilitate cooperation between the U.S. and Kyiv to explore and invest in Ukraine’s essential mineral assets.

U.S. President Donald Trump initially referred to the agreement as a “money-back” guarantee for the wartime aid Ukraine had received from his predecessor, Joe Biden.

However, Ukraine asserts that the new agreement does not connect to any previous “debt,” while U.S. officials emphasized that the deal underscores American support for Ukraine.

“This agreement signals to Russia that the Trump administration is committed to a peace process focused on a free, sovereign, and prosperous Ukraine for the long haul,” stated U.S. Treasury Secretary Scott Bessent in Washington.

Zelensky noted that the agreement had “changed significantly” throughout the negotiation process. “Now it is a genuinely equitable deal that presents an opportunity for substantial investment in Ukraine,” he remarked.

He added, “There are no debts involved in this agreement, and a recovery fund will be established to invest in Ukraine and generate profits here.”

Originally, Kyiv and Washington aimed to finalize the agreement in February; however, discussions were delayed due to tensions between Trump and Zelensky.

Ukraine hopes this deal will facilitate U.S. security assurances as it seeks to protect itself against future Russian attacks after a three-year invasion by Moscow.

The agreement still requires ratification from Ukraine’s parliament.

‘Stay silent and negotiate’

Under this new arrangement, the U.S. and Ukraine will create a joint Reconstruction Investment Fund.

For the first decade, all profits from the agreement will be reinvested within Ukraine, after which returns “may be shared between the partners,” according to Kyiv.

While the deal does not stipulate specific U.S. security commitments, Washington argues that enhancing its economic interests in Ukraine will help deter Russian aggression.

Despite Trump’s efforts to broker a ceasefire, Moscow continues its attacks on Ukraine unabated.

A recent Russian drone strike in the Ukrainian port city of Odesa resulted in two fatalities and left more than a dozen injured, according to local officials.

“We must intensify pressure on Russia to compel it to engage in negotiations. The more effective the sanctions are, the more incentives Russia will have to end the war,” Zelensky stated on Telegram following the strike.

French Foreign Minister Jean-Noel Barrot mentioned to AFP on Thursday, after discussions with U.S. Secretary of State Marco Rubio, that the European Union is preparing a 17th round of sanctions against Russia, labeling President Vladimir Putin as the “main barrier” to peace in Ukraine.

A bipartisan group of U.S. senators, led by Republican Lindsay Graham and Democrat Richard Blumenthal, proposed legislation last month that would impose sanctions on countries supportive of Moscow if they disrupt efforts to conclude the conflict.

Russia turned down a 30-day ceasefire suggested by the United States and Ukraine in March, insisting on a halt to Western military support for Kyiv.

The U.S. has indicated that this week will be “crucial” in determining whether it will abandon efforts to find a resolution to the three-year conflict.

Putin has announced an unexpected three-day ceasefire from May 8 to 10, coinciding with Moscow’s extensive celebrations for the 80th anniversary of World War II Victory Day.