President of Ukraine Volodymyr Zelensky refused to sign a proposed agreement from the United States concerning access to Ukrainian subsoil resources, particularly rare earth metals, citing the lack of specific security guarantees for Ukraine in the document. The decision was made after the Trump administration presented a draft agreement that required significant concessions from Kyiv without corresponding obligations from Washington, reports the Baltimore Chronicle, citing Sky News.
According to a report by the Associated Press, Zelensky stated that he did not allow his ministers to sign the deal because it failed to protect Ukraine’s interests. In response, White House National Security Council spokesman Bryan Hughes described the refusal as “shortsighted,” noting that the agreement could have stimulated Ukraine’s economic development and helped reimburse U.S. aid already provided.
The draft, presented to Ukrainian officials just hours before a visit by U.S. Treasury Secretary Scott Bessent, included provisions granting the U.S. right of first refusal on investments in all Ukrainian infrastructure and resource projects. It also proposed that 50% of revenues from new projects be transferred to a special investment fund controlled by the United States.
Ukrainian officials expressed concern that the agreement could undermine the country’s aspirations for European Union integration and set a precedent for other donor countries to demand compensation for aid provided.
During an Oval Office meeting between Zelensky and Trump, tensions flared. Trump accused Zelensky of disrespecting the United States, while Vice President J.D. Vance voiced disappointment over the Ukrainian leader’s refusal to sign the deal. The meeting ended without any agreements, and Zelensky left the White House without commenting to the press.
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