In the newly proposed mineral agreement, the US aims to gain indefinite control over all of Ukraine’s subsoil without providing any security guarantees.

The US has proposed a new, detailed draft of the mineral agreement which allows for US control over all of Ukraine’s subsoil yet makes no mention of security guarantees for Ukraine, said MP Yaroslav Zheleznyak.

He remarked that the proposed project is extremely unfavorable for Ukraine, as profits are expected to be sent abroad, with the US being the first to receive royalties from the fund. But most importantly, the draft agreement lacks security guarantees. Zheleznyak emphasized that this is not a final draft and will be discussed within the government and between the US and Ukraine. The agreement will need ratification by parliament in the future, but “in its current form, the Verkhovna Rada will not support ratification,” Zheleznyak added.

Meanwhile, the US anticipates that a new, comprehensive mineral agreement could be signed as soon as next week. US Treasury Secretary Scott Bessent noted that the agreement’s initial draft consisted of four pages but following the unsuccessful signing, Washington opted to pursue a “completed agreement.”