Zelensky hails Ukraine-US mineral deal as ‘truly equal’

KYIV: Ukrainian President Volodymyr Zelensky on Thursday hailed a minerals deal that Kyiv had signed with Washington, saying the reworked agreement was “truly equal”.

The deal, which both parties signed on Wednesday, would see the United States and Kyiv jointly develop Ukraine’s critical mineral resources.

US President Donald Trump initially described the arrangement as “money back” for the wartime aid Ukraine received under his predecessor Joe Biden, but Kyiv says the new agreement is not linked to any past “debt”.

During the negotiations, “the agreement changed significantly”, Zelensky said in his daily address.

“Now it is a truly equal agreement that creates an opportunity for quite significant investment in Ukraine.”

“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,” he added.

Kyiv and Washington planned to sign the agreement weeks ago, but a fiery clash between Trump and Zelensky in the White House temporarily derailed talks.

Ukraine had been pushing for long-term security guarantees as part of any deal.

The new agreement does not place any specific security commitments on the United States, but Washington argues boosting its business interests in Ukraine will help deter Russia, which invaded its neighbour in 2022.

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