The new agreement signed between the US and Ukraine opens the door for Washington to gain access to the war-torn country's natural resources, while creating an investment mechanism aimed at providing long-term support for Kiev.
Despite some asymmetric and extreme pressure on Kiev, Donald Trump is getting what he asked for, but not to the extent and on the terms he had proposed. For its part, Ukraine is giving the US access to its rare deposits without the security commitments demanded by Volodymyr Zelensky, but ensuring future cooperation with Donald Trump's US, which has been anything but friendly.
The BBC analyzed the draft agreement, reaching seven key conclusions.
1. No payments from Ukraine to the US
President Trump has previously demanded that Ukraine return $350 billion that he claims Washington has allocated for the war. Zelensky categorically rejected this demand.
Now, the agreement does not include any relevant provisions for debt repayment.
Trump presented the deal as a "victory," claiming the US would receive "much more" than the billions spent during the Biden administration.
2. Tougher American language towards Russia
The deal was accompanied by rare aggressive rhetoric against Moscow from Trump. The US Treasury Department spoke of a "full-scale invasion by Russia" and made clear that no state or person that finances the Kremlin's war machine will benefit from the reconstruction of Ukraine.
3. Oil and gas on the table, not just minerals
Although the agreement is primarily about exploiting Ukraine's mineral resources, it also includes provisions for new oil and gas projects, as well as related infrastructure. All natural resources remain under Ukrainian ownership, with the United States gaining shared access. This is considered a significant retreat by Kiev compared to previous plans.
4. No conflict with EU membership aspirations
Kiev was concerned that the deal with the US could jeopardize its aspirations for EU membership.
The final version of the agreement clarifies that there is no conflict, recognizes the prospect of membership, and states that the US will negotiate in good faith any adjustments due to Ukraine's new European obligations. The agreement also encourages investment and technology transfer from the EU.
5. Profits will be reinvested in Ukraine for a decade
For the first ten years of the investment fund's operation, all profits will be reinvested exclusively in the Ukrainian economy, with no financial benefit to the United States. After the ten years, a distribution of profits among the partners is envisaged. US Treasury Secretary Scott Bessant said that the message to the American people is that "we have an opportunity to participate and be rewarded for supporting Ukraine."
6. Military aid according to conditions
Washington tied the continuation of military aid to the signing of the agreement. Ukrainian Deputy Prime Minister Yulia Svirydenko, who traveled to Washington for the ceremony, said new military reinforcements, including defense systems, are planned.
This is a change from Trump's initial stance, which had expressed the intention to limit military support.
7. Lack of binding guarantees, the US may withdraw
Despite the economic openings, the agreement does not include clear security guarantees for Ukraine. Trump's reluctance to offer military commitments comparable to those of his predecessor Biden remains. US support continues to depend largely on the will of the White House, thus maintaining a sense of uncertainty around Kiev's most important ally. (A2 Televizion)
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