Ukrainian President Volodymyr Zelensky stated Thursday that despite the agreement’s lack of specific security guarantees for Kyiv, a historic minerals deal with the US offered “equal” benefits for both parties.
After Zelensky called on allies to increase pressure on Moscow to halt its invasion, Russia later launched a massive drone attack on the central industrial city of Zaporizhzhia, tearing open a residential structure from the Soviet era and injuring 14 people.
Washington and Kiev would work together to develop and invest in Ukraine’s vital mineral resources under the accord, which has been negotiated over several months.
The agreement “changed significantly” during negotiations, Zelensky said in an address.
“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 added.
The agreement was supposed to be signed in February between Kyiv and Washington, but negotiations were halted by a confrontation between Zelensky and US President Donald Trump at the White House.
In order to protect itself from further Russian attacks in the wake of Moscow’s invasion, Ukraine expects the agreement would open the door for the US to provide security guarantees.
The Ukrainian parliament has yet to ratify the accord.
At first, Trump referred to the deal as “money back” for the military assistance that Ukraine had gotten under Joe Biden, his predecessor.
Ukraine says the agreement is not linked to any past “debt” however, and US officials stressed that the accord signalled US support for Ukraine.
