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19-02-2025, 04:03 PM
At that time, the Ukrainian President said Ukraine could sign an agreement with the US, EU and other unnamed allies that would allow for joint investments and use of Ukraine's natural resources.
Ukraine has some £12 trillion worth of natural resources, including many rare earth minerals vital for the manufacture of modern technology - though many are found in the industrial heartlands in the east, currently occupied by Russia.
Mining analysts and economists say Ukraine currently has no commercially operational rare earth mines.
'When we looked at the details there was nothing there [about future US security guarantees],' one official said, while another told The Telegraph that a clause in the contract awarded the US 'a lien on revenues'.
In other words, the official said, the contract meant 'pay us first, and then feed your children'.
Graham and other lawmakers at the time released a statement in which they positioned Ukraine as a potential economic partner of the US that could reduce America's reliance on the likes of China for rare earth minerals.
Earlier this month, Zelensky also showed reporters the location of Ukraine's mineral deposits, unfurling a map on a table in the heavily defended president's office in Kyiv.
Around half of it looked to be on Russia's side of the current frontlines, but large amounts of vital resources were found in central Ukraine.
'This agreement shall be governed by New York law, without regard to conflict of laws principles,' it stated, going on to say that 'for all future licences, the US will have a right of first refusal for the purchase of exportable minerals'.
Trump's demand for Ukrainian mineral wealth 'suggested by Zelensky'
Ukraine has some £12 trillion worth of natural resources, including many rare earth minerals vital for the manufacture of modern technology - though many are found in the industrial heartlands in the east, currently occupied by Russia.
Mining analysts and economists say Ukraine currently has no commercially operational rare earth mines.
'When we looked at the details there was nothing there [about future US security guarantees],' one official said, while another told The Telegraph that a clause in the contract awarded the US 'a lien on revenues'.
In other words, the official said, the contract meant 'pay us first, and then feed your children'.
Graham and other lawmakers at the time released a statement in which they positioned Ukraine as a potential economic partner of the US that could reduce America's reliance on the likes of China for rare earth minerals.
Earlier this month, Zelensky also showed reporters the location of Ukraine's mineral deposits, unfurling a map on a table in the heavily defended president's office in Kyiv.
Around half of it looked to be on Russia's side of the current frontlines, but large amounts of vital resources were found in central Ukraine.
'This agreement shall be governed by New York law, without regard to conflict of laws principles,' it stated, going on to say that 'for all future licences, the US will have a right of first refusal for the purchase of exportable minerals'.
Trump's demand for Ukrainian mineral wealth 'suggested by Zelensky'
