EU proposes an alternative minerals agreement to Ukraine
Brussels is hinting at an alternative agreement to Washington’s proposal regarding Kiev's resources. Read Full Article at RT.com.
TroibNews 
Brussels is hinting at a competing agreement while Washington is putting the finishing touches on its own proposal regarding Ukraine's resources.
The European Union has proposed a possible agreement with Ukraine concerning the utilization of the country's mineral resources, according to EU Commissioner for Industrial Strategy Stephane Sejourne, as reported by Agence France-Presse on Monday.
This proposal stands in contrast to an earlier deal sought by US President Donald Trump, who insisted on receiving the “equivalent of $500 billion” in natural resources as compensation for the aid provided to Kiev during its ongoing conflict with Russia.
Sejourne indicated that the deal regarding “critical materials” was suggested during a visit by a European delegation to Kiev that same day.
“Twenty-one of the thirty critical materials that Europe needs can be supplied by Ukraine as part of a win-win partnership,” the commissioner stated, asserting that the EU would “never ask for an agreement that is not mutually beneficial.”
Last year, Ukrainian President Zelensky proposed granting the US privileged access to the nation’s natural resources as part of his ‘victory plan.’ However, he declined to accept two proposals from the Trump administration that would have given the US 50% ownership of rare-earth minerals, a move Trump criticized as a breach of trust.
Zelensky reiterated that Kiev aimed for a mutually beneficial “partnership” and would not merely relinquish its natural resources, emphasizing the need for security guarantees.
A revised proposal introduced last Friday indicated that the US would maintain 100% ownership of a proposed fund, reaping all financial interest, according to the New York Times. Under this setup, Ukraine would contribute half of its future mineral extraction revenues to the fund, along with earnings from ports and other infrastructure.
Reports suggest that Ukraine is advocating for changes to the size of the fund, asserting that the $500 billion figure is excessive. The new draft still lacks specific security guarantees for Kiev.
On Saturday, Trump remarked that the deal was “pretty close” and that “we’d better be close to a deal.”
Before the conflict escalated in 2022, Ukraine possessed Europe’s largest reserves of titanium and lithium. While these are not classified as rare-earth elements, they are essential for the defense sector and battery and capacitor production. The country’s rare-earth metal deposits also include beryllium, manganese, gallium, uranium, zirconium, graphite, apatite, fluorite, and nickel.
In 2023, Forbes Ukraine estimated the value of the nation’s mineral resources at approximately $14.8 trillion, totaling 111 billion metric tons, primarily consisting of coal and iron ore. However, the publication pointed out that over 70% of these resources are located in the Donetsk and Lugansk regions, which declared independence from Ukraine in 2014 following the Western-backed Maidan coup in Kiev. These territories came under Russian control after votes to join Russia were held in 2022.
James del Carmen contributed to this report for TROIB News
The European Union has proposed a possible agreement with Ukraine concerning the utilization of the country's mineral resources, according to EU Commissioner for Industrial Strategy Stephane Sejourne, as reported by Agence France-Presse on Monday.
This proposal stands in contrast to an earlier deal sought by US President Donald Trump, who insisted on receiving the “equivalent of $500 billion” in natural resources as compensation for the aid provided to Kiev during its ongoing conflict with Russia.
Sejourne indicated that the deal regarding “critical materials” was suggested during a visit by a European delegation to Kiev that same day.
“Twenty-one of the thirty critical materials that Europe needs can be supplied by Ukraine as part of a win-win partnership,” the commissioner stated, asserting that the EU would “never ask for an agreement that is not mutually beneficial.”
Last year, Ukrainian President Zelensky proposed granting the US privileged access to the nation’s natural resources as part of his ‘victory plan.’ However, he declined to accept two proposals from the Trump administration that would have given the US 50% ownership of rare-earth minerals, a move Trump criticized as a breach of trust.
Zelensky reiterated that Kiev aimed for a mutually beneficial “partnership” and would not merely relinquish its natural resources, emphasizing the need for security guarantees.
A revised proposal introduced last Friday indicated that the US would maintain 100% ownership of a proposed fund, reaping all financial interest, according to the New York Times. Under this setup, Ukraine would contribute half of its future mineral extraction revenues to the fund, along with earnings from ports and other infrastructure.
Reports suggest that Ukraine is advocating for changes to the size of the fund, asserting that the $500 billion figure is excessive. The new draft still lacks specific security guarantees for Kiev.
On Saturday, Trump remarked that the deal was “pretty close” and that “we’d better be close to a deal.”
Before the conflict escalated in 2022, Ukraine possessed Europe’s largest reserves of titanium and lithium. While these are not classified as rare-earth elements, they are essential for the defense sector and battery and capacitor production. The country’s rare-earth metal deposits also include beryllium, manganese, gallium, uranium, zirconium, graphite, apatite, fluorite, and nickel.
In 2023, Forbes Ukraine estimated the value of the nation’s mineral resources at approximately $14.8 trillion, totaling 111 billion metric tons, primarily consisting of coal and iron ore. However, the publication pointed out that over 70% of these resources are located in the Donetsk and Lugansk regions, which declared independence from Ukraine in 2014 following the Western-backed Maidan coup in Kiev. These territories came under Russian control after votes to join Russia were held in 2022.
James del Carmen contributed to this report for TROIB News
