Ukraine rejects bid by US to own 50% of rare earth minerals.
Ukraine has rejected a bid by the US to own 50 per cent of the country’s rare earth minerals, as President Volodymyr Zelenskiy seeks to negotiate a better deal.
US Treasury Secretary Scott Bessent presented the proposal to Zelenskiy in a draft contract, which was brought to their meeting on Wednesday, NBC reported earlier, citing eight US officials it didn’t identify. Zelenskiy didn’t sign the document and said he needed to study and consult others on it, according to the US outlet.
Zelenskiy wants US and European security guarantees to be tied directly to any deal on the mineral reserves, the FT said, citing three unidentified people familiar with the negotiations. A senior Ukrainian official told the newspaper Kyiv was seeking a “better deal.”
The Ukrainian Embassy in Washington and a spokesperson for the White House National Security Council didn’t respond to NBC’s requests for comment Friday.
The Trump administration has signaled that it expects Kyiv to grant access to its natural resources including critical minerals, as well as pledge to purchase US energy exports, in return for its military and economic support against Russia, which invaded in 2022.
Source: BUSINESSSTANDARD
