A senior economist at the Centre for Economic Strategy in Kyiv, Volodymyr Landa, has said the minerals cooperation agreement between Ukraine and the United States (US) has undergone “Multiple iterations” as negotiations between both countries continue.
Speaking with reporters, Landa noted the lack of clarity surrounding the final terms of the deal, remarking, “It’s hard to say what’s inside.”
The agreement comes as Ukrainian President Volodymyr Zelenskyy seeks to strengthen ties with the U.S. administration under President Donald Trump.
However, tensions have emerged over the financial arrangements tied to American military assistance.
While Washington has reportedly urged Kyiv to allocate revenue from the new joint minerals fund to offset the cost of weapon deliveries previously supplied under the Biden administration, President Zelenskyy has so far resisted the proposal.
The debate follows President Trump’s earlier assertion that Ukraine “owes” the U.S. $300 billion (£226 billion) a claim Zelenskyy has refuted, insisting that American military support was provided in the form of grants, not loans, following bipartisan approval in Congress.
Looking ahead, Zelenskyy emphasized that future cooperation between the two nations must be anchored on fairness and mutual benefit.
“Partnership has to be based on parity,” the Ukrainian leader stated.
Landa also weighed in on the political and financial implications of reclassifying previous aid as debt. “I don’t expect Kyiv to accept that non-refundable military aid has suddenly become debt,” he said.
“That’s not only unfair and unrealistic but could also negatively impact the global financial system. If countries and institutions start demanding retroactive payments for past assistance given unconditionally, it will make future aid agreements far more complicated and could reopen unresolved global financial disputes from decades past.”
Negotiations on the minerals partnership continue, with both sides seeking to finalize a deal that balances geopolitical cooperation with economic stability.
