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Zelensky praises ‘truly equal’ US - Ukraine minerals deal
Zelensky hailed the re-worked agreement which had been in the pipeline for months, and had been delayed due to a spat with US President Donald Trump.
Ukrainian President Volodymyr Zelensky on Thursday praised the recent mineral deal with the United States as a “truly equal agreement,” reported AFP.
During his daily address, Zelensky hailed the re-worked agreement which had been in the pipeline for months, and had been delayed due to a spat with US President Donald Trump.
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"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 said.
Both parties signed the deal on Wednesday, which will seek to develop the critical mineral resources in Ukraine. The agreement had changed significantly with compromises on both ends.
Also Read: What is US-Ukraine Reconstruction Fund, key element in new mineral deal
Earlier, Trump had stated that the deal was a way for the US to get their money back after providing wartime aid to Ukraine during its ongoing conflict with Russia. However, President Zelensky denied that there was any clauses on debt or repayment in the new agreement.
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Ukraine had also asked for security commitments as part of the deal however, these have not been explicitly mentioned in the agreement signed by the two countries. Washington has argued that boosting business interests in Ukraine would automatically act as a deterrent for Russia.
US-Ukraine mineral deal: What does it include?
The mineral deal, which has been in the works for a long time, gives the United States priority access on investment projects involving Ukraine's aluminium, graphite, oil and natural gas resources, reported Bloomberg.
Further, through a reconstruction fund, most of the profits of these projects will go towards rebuilding infrastructure in Ukraine that has been destroyed by Russian missile strikes and military action.
The deal also aligns with Ukraine’s aspirations to join the European Union, a non-negotiable condition for Kyiv.
