Ukraine Won’t Sign Mineral Agreement With U.S. Without Security Guarantees, Ukrainian PM Says

Ukrainian Prime Minister Denys Shmyhal has stated that Kyiv will not sign a mineral agreement with the United States unless it is linked to security guarantees, according to The Times on February 26.

“Kyiv is not considering signing a mineral agreement with the US without linking it to security guarantees, and this is already included in the draft agreement,” Shmyhal said.

He emphasized that the agreement, which aims to address Ukraine’s critical mineral resources, is directly connected to Ukraine’s security needs.

“This is a preliminary agreement that provides for the creation of an investment fund for Ukraine’s reconstruction, where Ukraine and the United States will jointly manage and fund it. […] This agreement is directly tied to security guarantees. Neither the president nor the government will consider this agreement without security guarantees for Ukraine,” Shmyhal said.

He further explained that paragraph 10 of the agreement states it “constitutes an integral part of the architecture of bilateral and multilateral agreements, as well as specific steps to establish lasting peace, strengthen economic and security resilience, and reflect the goals outlined in the preamble. […] The U.S. government supports Ukraine’s efforts to secure the necessary security guarantees for establishing lasting peace.”

Shmyhal emphasized that security guarantees for Ukraine are integral to President Volodymyr Zelenskyy’s victory plan. He added that the government will review the agreement’s text today and authorize ministers to proceed with the signing.

“Ukraine’s contribution [to the fund] will be part of our future revenues. What is very important is that it is not about existing or past [revenues], but about the future. We are talking about future income from rents or licenses for mineral resources, dividends from infrastructure objects used for transportation or extraction of relevant minerals. Fifty percent of these revenues will be invested in this joint Ukraine-U.S. reconstruction fund,” the prime minister said.

He also noted that the United States will contribute to the fund, though the exact amount was not disclosed. The fund will invest the capital in Ukraine’s development, focusing on reconstruction and security.

Earlier, Sergey Lavrov, Russia’s Minister of Foreign Affairs, stated that there will be no cessation of hostilities along the contact line in Ukraine.