WASHINGTON: The draft agreement on Ukrainian minerals suggested by the United States contains a demand that the US government's Interna...
WASHINGTON: The draft agreement on Ukrainian minerals suggested by the United States contains a demand that the US government's International Development Finance Corporation take control of a natural gas pipeline from Russia's Gazprom across Ukraine to Europe, Reuters reported citing a source with knowledge of the matter.
US and Ukrainian officials met on the draft proposal in Washington on Friday, the source said. Prospects for a breakthrough were scant given the meeting's "antagonistic" atmosphere, the agency wrote. "The negotiating environment is very antagonistic," the source said, pointing to the "maximalist" draft submitted by the US administration in March. A Treasury Department spokesperson confirmed the discussions, calling them "technical in nature."
The Ukrainian government has hired law firm Hogan Lovells as an outside adviser on the minerals deal, Reuters said. Ukrainian Prime Minister Denis Shmyhal and Finance Minister Sergey Marchenko will be in Washington in two weeks for International Monetary Fund and World Bank meetings, including a Ukraine-focused ministers' meeting on April 25, the agency said citing multiple sources familiar with the plans.
The minerals deal previously fell apart because of a verbal spat between Ukraine’s Vladimir Zelensky and US President Donald Trump in the White House on February 28. On March 27, Kiev announced receiving a revised deal, one which was much tougher on Ukraine than the previous one. The latest proposal demands all of Ukraine’s revenues from natural resources as repayment for aid worth some $120 billion that Washington has provided to Kiev. The United States will control an investment fund to help Ukraine’s recovery as part of the deal. Since then, Ukrainian officials have repeatedly stated that they are still reviewing the terms, while Zelensky has complained that Washington has changed the original terms of the agreement. Trump has accused Zelensky of trying to back out of the deal, threatening him with big problems.
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