Ukrainian leader seeks security guarantees before finalizing US economic deal

Ukrainian President Volodymyr Zelenskyy has asserted that he will withhold his signature from a forthcoming economic agreement with the United States — set to follow the rare-earth metals deal — unless it incorporates broader security guarantees. This stance was conveyed by The Economist, citing a well-informed source.

According to Zelenskyy, the initial natural resources agreement is considered a framework agreement and does not require ratification. However, the subsequent deal, which would establish an investment fund, will need to be ratified by Ukraine’s Verkhovna Rada. The source added that the new agreement does not specify the conditions under which Ukraine’s natural resources will be disposed of, and these details should be clarified in the following agreement.

The rare-earth metals deal, initially proposed by US President Donald Trump in early February, was seen as a major economic opportunity for Ukraine, with the deal valued at around one trillion dollars. Initially, Zelenskyy hesitated to sign the agreement, but the situation shifted when the American side removed a clause that would have given the US full control over the fund. This adjustment led Zelenskyy to express his intention to move forward with signing the deal. Furthermore, the Ukrainian government made revisions to ensure that Ukraine’s subsoil resources would not be transferred into foreign ownership.

The full text of the US-Ukraine agreement on natural resources was published in the Ukrainian media, revealing a 10-point document. The primary focus of the agreement is the creation of a joint US-Ukraine fund, which is intended to play a key role in ensuring economic security and establishing long-lasting peace between the two nations.

Zelenskyy’s “victory plan,” presented in October 2024, laid out the idea of granting Western partners access to Ukraine's natural resources. The plan, particularly in paragraph 4, emphasizes the strategic importance of resources like uranium, titanium, lithium, graphite, and other valuable materials, collectively worth trillions of dollars. The plan proposed that Ukraine’s partners enter into agreements on joint protection and investment in these critical resources.

The idea to include this provision in the plan reportedly came from Republican Senator Lindsey Graham, a supporter of President Trump. Zelenskyy presented the plan to Trump during his visit to the US in September 2024.

The US-Ukraine deal, set to be signed in Washington on February 28, 2025, will mark a significant step in the strengthening of economic ties between the two nations. President Zelenskyy is expected to arrive in Washington on February 28 to finalize the agreement.

By Tamilla Hasanova