It has been reported that Zelensky rejected the U.S. proposal to transfer about 50% of the rights to Ukrainian minerals, as the document lacked clear security guarantees from Washington.
U.S. Treasury Secretary Scott Bessent presented the agreement to Zelensky during his visit to Kyiv on February 12, but it contained no proposals for future military assistance to Ukraine.
According to three sources from the FT who reviewed the proposal, Ukraine is primarily concerned about the lack of connection to broader security guarantees from the U.S.
Ukrainian officials inquired how this agreement would contribute to the country's long-term security but received only a vague response that it would ensure American presence at mineral extraction sites in Ukraine, the media emphasized. Bessent insisted that this would be a sufficient deterrent against the aggressor state, Russia.
Additionally, another contentious point of the agreement was the clause stating that all disputes regarding the rights to Ukrainian resources must be resolved in New York courts, noted two FT sources.
At the same time, a senior Ukrainian official informed the media that Ukraine is "trying to negotiate a more favorable agreement."
Zelensky also wants other countries, including EU states, to participate in the future development of Ukraine's natural resources.