Ukraine and the United States have recently reached an agreement to jointly develop Ukraine's mineral resources. The signing of the agreement is expected to be witnessed on February 28 by Ukrainian President Zelensky and US President Trump, with the transaction amount potentially reaching one trillion dollars. The content of the agreement reveals a deepening bond in resource cooperation between Ukraine and the United States. The US will partially control Ukraine's oil, natural gas, and mineral resource revenues, while Ukraine promises to inject 50% of future revenues into a joint fund established by both countries. Some analysts believe that this agreement is not only about accessing Ukraine's resources but could also serve as leverage for the US to pressure Russia.
Ukrainian media reports that the final text of the agreement contains 11 clauses. Although the US commitment to provide security guarantees to Ukraine is somewhat vague, Ukraine insists that the agreement should pave the way for more security assurances in the future. Zelensky has clearly stated that Ukraine will not sign the agreement without explicit security assurances. Despite the US not directly agreeing to Ukraine's demands, both sides still hope to strengthen cooperation through this agreement in subsequent negotiations, especially regarding security and economic aid.
However, the agreement’s contents have not been accepted by European sides. Some European countries are concerned that the terms of the agreement could lead Ukraine into a situation akin to “economic colonialism,” especially considering the share of resource interests obtained by the US and the description of Ukraine’s long-term obligations, raising questions about the fairness of the deal. Meanwhile, the EU has also submitted a mineral cooperation agreement, proposing to co-develop resources with Ukraine and emphasizing that cooperation must be mutually beneficial.
The United States has shown strong interest in Russia's mineral resources. Recently, Trump stated that the US wishes to increase its mineral reserves by purchasing rare earth resources from Russia and is considering lifting sanctions on Russia in the future. Although Russia has not yet responded to the US's statement, Putin previously indicated that Russia seeks to enhance the development of its rare earth industry to boost its competitiveness in the international market. Putin also noted that Russia's reserves of rare earth resources far exceed those of Ukraine and is willing to cooperate with multiple parties, including the US, to develop this strategic resource.
These series of mineral resource agreements are not only part of global energy and economic competition but also reflect the strategic resource competition between the US and Russia, with Ukraine's position as a key resource nation placing it at the center of international strategic games.
