EU proposes “win-win” partnership with Ukraine on critical minerals as US nears agreement
The European Union on Monday proposed its own “win-win” partnership agreement with Ukraine on “critical materials”, following U.S. President Donald Trump’s claims that Washington is close to inking a deal with Kyiv for access to its valuable natural resources, AFP reported, citing a top official.
The European Commissioner for Industrial Strategy, Stephane Séjourné, unveiled the EU’s proposal during a visit to Kyiv alongside European Commission President Ursula von der Leyen.
“Twenty-one of the 30 critical materials Europe needs can be provided by Ukraine in a win-win partnership,” Séjourné said, noting that “the added value Europe offers is that we will never demand a deal that’s not mutually beneficial.”
The US and Ukraine have been locked in intense negotiations over the agreement that President Trump’s administration sees as integral to its plan to broker a ceasefire deal between Russia and Ukraine.
According to AFP, the EU aims to secure critical resources for its green and digital transition through a long-term strategic partnership, while deeply integrating Ukraine into European markets.
In the meantime, Ukraine and the United States are closing in on an agreement that would grant Washington a share of Kyiv’s revenues from natural resources. Accordingly, Trump announced that Zelensky may come to the White House this week or next week to sign the agreement.
“The agreement’s being worked on now. They’re very close to a final deal,” he said on Monday at the White House.
A version of the agreement being discussed Monday, which was reviewed by The New York Times, contained more favourable terms to Ukraine than previous drafts but did not include the security guarantees Ukraine had been requesting.
“This economic agreement with Ukraine will not be a guarantee of future aid for war, nor will it include any commitment of U.S. personnel in the region,” a White House official said.
Meanwhile, President Zelenskyy told reporters that the U.S. dropped its demand for Kyiv to allocate $500 billion from resource extraction to a fund as repayment for U.S. aid, saying it was closer to $90 billion, according to Bloomberg.
It is noteworthy that Ukraine holds huge deposits of critical elements and minerals, from lithium to titanium, which are vital to manufacturing modern technologies and highly coveted in the global race for resources. It also has vast coal reserves, as well as oil, gas, and uranium.
