President Donald Trump’s administration revised the previous mineral deal it had offered Ukraine, which the country’s Dictator Vladimir Zelensky rejected after disrespecting the United States in the White House. The new version of the mineral deal, which Reuters claimed to have attained a draft of on Friday, provides less to Ukraine than the old version did. Interestingly, the revised deal comes directly after Kiev failed to agree to a ceasefire and Moscow announced it will no longer deal with Ukraine’s current government due to trust issues.
“The U.S. has revised its original proposal, said the sources, and it gives Ukraine no future security guarantees but requires it to contribute to a joint investment fund all income from the use of natural resources managed by state and private enterprises across Ukrainian territory,” Reuters said Friday.
Security guarantees have been a key goal for the Dictator, who in October based his ill-fated ‘victory plan‘ around them.
The original mineral deal only required Kiev contribute 50 percent of its income from state-owned, and just state-owned natural resources.
The new requirement for Kiev to contribute 100 percent of its income from the public, and chiefly, private use of its natural resources to a joint fund is likely another critical blow to the war-torn nation, as it has relied on foreign gifts to maintain its war, going so far as to have its Dictator travel the globe begging for money.
Trump sees a mineral deal as a method of recouping costs associated with funding Ukraine’s war. He has also said that the sheer fact American businesses would be engaged in commerce in Ukraine is a type of security guarantee in and of itself.
On Wednesday Trump said that Washington is making progress toward a ceasefire via a strategy of commerce and trade. The mineral deal appears central to Trump’s operations in this space.
While negotiations between Moscow and Kiev have taken place as recently as this week, no ceasefire deal had been reached.
On Thursday the hope for a successful outcome to the negotiations came to an end when Russian President Vladimir Putin declared that he will not sign a peace plan with the “illegitimate” government of Kiev, instead proposing a United Nations-backed government to take control of Ukraine, which Moscow will then engage in peace negotiations with.
“The new proposal stipulates that the U.S. is given first rights to purchase resources extracted under the agreement and that it recoup all the money it has given Ukraine since 2022, in addition to a 4 percent annual interest rate, before Ukraine begins to gain access to the fund’s profits, according to the summary. The updated proposal was first reported by the Financial Times,” Reuters said Friday. “If agreed, the joint investment fund would have a board of five people, three appointed by the U.S. and two by Ukraine, and the funds generated would be converted into foreign currency and transferred abroad, according to the summary. The fund would be managed by the U.S. International Development Finance Corporation (DFC).”
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