Zelensky hails Ukraine-US mineral deal as ‘truly equal’
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Ukrainian President Volodymyr Zelensky said in his daily address that a reworked agreement had changed significantly during negotiations with the US.
PHOTO: EPA-EFE
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KYIV – Ukrainian President Volodymyr Zelensky said on May 1 that a landmark minerals deal with the US offered “equal” benefits for both sides, even though the accord offered no concrete security guarantees for Kyiv.
Russia launched a large-scale drone attack on the central industrial city of Zaporizhzhia, ripping open a Soviet-era residential building and wounding 14 people, after Mr Zelensky urged allies to step up pressure on Moscow to end its invasion.
The agreement “changed significantly” during negotiations, Mr Zelensky said in his daily address.
“Now it is a truly equal agreement that creates an opportunity for quite significant investment in Ukraine,” he added.
“There is no debt in the deal, and a fund – a recovery fund – will be created that will invest in Ukraine and earn money here.”
Kyiv and Washington planned to sign the agreement in February, but a White House clash
Ukraine hopes the deal will now pave the way for the US to give security guarantees as it seeks to safeguard against future Russian attacks following Moscow’s three-year invasion.
The agreement still needs to be ratified by Ukraine’s Parliament.
Mr Trump initially described the arrangement as “money back” for the wartime aid Ukraine received under his predecessor, Mr Joe Biden.
But Ukraine said the new agreement is not linked to any past “debt”.
US officials stressed that the accord signalled US support for Ukraine.
‘Be quiet and negotiate’
Under the deal, Ukraine and the US will establish a joint Reconstruction Investment Fund.
Profits from the agreement will be invested exclusively in Ukraine for the first 10 years, after which profits “may be distributed between the partners”, Kyiv said.
The new agreement does not give any specific US security commitments, but Washington argues boosting its business interests in Ukraine will help deter Russia.
Moscow has kept up its attacks on Ukraine unabated, despite Mr Trump’s efforts to broker a ceasefire.
Mr Zelensky said Ukraine’s allies should ramp up “pressure on Russia to force it to be quiet and to negotiate” hours after the deal was agreed and Russia launched deadly aerial attacks across the country.
French Foreign Minister Jean-Noel Barrot told AFP on May 1, after Washington talks with US Secretary of State Marco Rubio, that the European Union is preparing a 17th round of sanctions against Russia, describing Russian President Vladimir Putin as the “sole obstacle” to peace in Ukraine.
A bipartisan group of US senators led by Republican Senator Lindsey Graham and Democrat Senator Richard Blumenthal also in April proposed legislation that would impose sanctions
Despite diplomatic efforts to end the grinding war launched by the Kremlin more than three years ago, Russia rejected a 30-day ceasefire proposed by the US and Ukraine in March, demanding a halt in Western military aid for Kyiv.
The US warned that this week would be “critical” in determining whether it would walk away from efforts to broker an end to the conflict.
US Vice-President J.D. Vance said on May 1 that he was “optimistic” about securing a halt to fighting but added it would ultimately be up to Kyiv and Moscow.
“They’re the ones who have to take the final step,” he said in comments carried on Fox News.
Mr Rubio said it was possible the US could walk away from the peace process, given that “we’ve got so many – and I would argue – even more important issues going on around the world”.
On May 1 on Fox News, he said: “I would say what’s happening with China is more important in the long term for the future of the world.”
Mr Putin has declared a surprise three-day truce from May 8 to 10, coinciding with Moscow’s large-scale celebrations for the 80th World War II Victory Day celebrations. AFP
