Ukraine's critical minerals deal with US faces transparency concerns ahead of May 8 vote

The Committee on Foreign Affairs of the Verkhovna Rada will review the draft law regarding the ratification of a cooperation agreement with the United States on critical minerals on May 6, with the document expected to be put to a vote in the session hall on May 8. However, the process has been surrounded by political manipulations and a lack of transparency.

Yaroslav Zheleznyak, a member of the Ukrainian parliament, shared these details on his Telegram channel, Caliber.Az reports, referring to information posted on the official website of the Ukrainian Parliament.

According to Zheleznyak, after the committee's discussion, the ratification law will be brought to a vote on May 8, in the afternoon session of the Verkhovna Rada.

“The Committee on Foreign Policy will meet at 14:00 today. The draft law on ratification is expected to be approved,” Zheleznyak said in his post.

Zheleznyak also pointed out that the process has been marred by political manoeuvring. Specifically, he noted that the committee plans to include a clause in the decision stating that two other agreements signed with the United States are not known to parliament, and thus, the parliament does not bear responsibility for them.

“This is a political manoeuvre to allow some members of parliament to vote in favour,” Zheleznyak explained.

The first agreement involves the U.S. International Development Finance Corporation (DFC) and Ukraine’s Agency for Public-Private Partnership. It outlines the mechanism for creating, financing, and managing a fund to support the project. Zheleznyak mentioned that this document could be signed shortly after the ratification of the primary agreement in the Rada. Another agreement will establish the rules for managing the fund.

Meanwhile, from May 6-8, Ukrainian officials from the economic bloc of the government—including Vice Prime Minister Yulia Svyrydenko, Trade Representative Taras Kachka, Deputy Finance Minister Yuriy Sobolev, and Deputy Minister of Economy Ihor Ulyutin—are scheduled to meet with parliamentary factions to discuss the agreement's details. However, the text of the agreements remains inaccessible to members of parliament.

“The texts won’t be provided, as there is allegedly a non-disclosure agreement (NDA) in place. I do not comment on the validity of this reason,” Zheleznyak added.

On May 1, during a visit to London, Ukraine’s Minister of Economy Yulia Svyrydenko and U.S. Treasury Secretary Scott Bessent signed an agreement to create the U.S.-Ukraine Reconstruction Investment Fund, along with a strategic partnership in the field of critical minerals.

This agreement is seen as a crucial step toward Ukraine’s industrial recovery and resource security amid the ongoing war and future reconstruction efforts. However, some parliamentarians have raised concerns about the lack of transparency in the process and the potential risks embedded in the document.

By Tamilla Hasanova