Donald Trump had earlier shown interest in negotiating with Ukraine for rare and critical minerals. Under pressure from American aid, Ukrainian President Volodymyr Zelenskyy had agreed to it, but now Trump has made a more colossal demand that might heavily impact Ukraine. He aims for near-complete control over Ukraine's natural resources, with no security guarantees in exchange.
The Financial Times reported that Trump is not only eyeing control over Ukraine's critical minerals but also seeks to dominate its oil, gas, and all energy resources.
Ukrainian President Zelenskyy acknowledged that a new proposal for mineral control has been presented by Trump's administration, although he hasn't commented on the specifics. He emphasized that Trump wishes to expedite the agreement's signing. 'Initially, a framework agreement was turned into a full agreement. Now, the American side is swiftly proposing a comprehensive deal,' Zelenskyy remarked earlier this week.
Trump asserts that the U.S. has supplied billions to Ukraine in its conflict with Russia, demanding control over its resources in return.
Trump also seeks control over Ukraine's nuclear plants
Trump has expressed a desire to control Ukraine's nuclear plants, yet Zelenskyy insists they're not part of any deal.
On February 28, Trump and Zelenskyy were set to sign an agreement on critical minerals at the White House, which fell through due to a dispute between Zelenskyy, Trump, and U.S. Vice President J.D. Vance, leading to Zelenskyy's removal from the premises.
Trump has now expanded the previous deal. Unlike earlier agreements focusing on future project profits, he wants Ukraine to share benefits from both government and private projects with the U.S.
Trump proposes establishing a joint investment fund to distribute income from these initiatives. This fund, overseen by a five-member board with three U.S. appointees, grants America operational control and veto power.
Beyond minerals, oil, and gas, the new pact incorporates infrastructure vital for mining, such as roads, railways, pipelines, ports, and refineries.
America will receive a 4% premium royalty from this fund, maintaining priority rights over infrastructure projects. Critics argue Trump's proposal could economically subordinate Ukraine. It's believed Ukraine is considering this deal to secure maximum concessions in a ceasefire with Russia.
