Kathmandu. US President Donald Trump has been pressured by Ukraine to hand over its oil, gas and rare earth minerals in exchange for its support in the war against Russia, it has been revealed.
The leaked document reveals this. The draft mineral agreement submitted by the US states that US control over Ukraine’s natural resources and key infrastructure will remain until Kiev repays about $100 billion in war debt. Ukraine will also have to pay 4 percent interest on this debt.
According to a report in the British newspaper Telegraph, the proposed terms give the US a lot of power. Under this, Washington could also prevent Ukraine from selling its resources to Europe or China. ‘This is an acquisition document,’ said Alan Riley, an energy law expert at the Atlantic Council. ‘There are no guarantees, no safeguards. There is no US involvement in this. The Americans can withdraw, the Ukrainians can’t. I’ve never seen anything like this.’
Under the new deal, the US will receive all royalties from Ukrainian assets until Kiev repays the $100 billion loan with 4% interest. Only then will 50% of the royalties go to Kiev. In return, Ukraine will not be given any guarantees of security from Russian aggression. The report also said that Trump’s negotiators were discussing with Kremlin-linked individuals the restart of the Nord Stream gas pipeline.
Under the new proposal, all of Ukraine’s mineral and energy assets and related infrastructure—such as ports, railways, roads and manufacturing facilities—would be placed under the control of the US-Ukraine Reconstruction Investment Fund, based in Delaware. The US will select three of the new fund’s five board members. Washington will be given full veto power over the sale of resources to any third party.
Bloomberg reports that Washington will have first-mover advantage over all infrastructure and natural resource projects. Ukraine will be prevented from interfering in the day-to-day management of the fund.
The Financial Times reports that the fund’s profits will be directly converted into foreign currency and Ukraine will be liable for compensation in the event of delays or disputes. –Agency
