New “expropriation document”
Raw material deal: USA want control over Ukraine
03/27/2025 – 8:27 p.m.Reading time: 3 min.
During the last attempt, the raw material deal failed due to the dispute between Trump and Selenskyj. Now there is a new design – which provides for the exploitation of Ukraine.
The US government has submitted a draft for a comprehensive partnership agreement to grant the United States far-reaching control rights to invest in the Ukrainian infrastructure and raw material industry. The proposal marks a new dimension of economic influence in a country that is located in the middle of the war and is dependent on international help. In addition, Ukraine’s access to the EU would hardly be possible under these conditions.
As “Bloomberg” reports, the draft contract provides for a “right of first law” for the USA for all future infrastructure and mineral projects in Ukraine. The Agreement would give American companies the opportunity to check investments in sectors such as road construction, railways, ports, mining, oil and gas production and the extraction of critical minerals.
An earlier design of the same agreement failed last month shortly before the signing. After days of negotiations, the Ukrainian President Wolodymyr Selenskyj refused his approval after a public dispute with Donald Trump had occurred in the White House. According to media reports, Selenskyj had particularly criticized the missing security guarantees and the conditions that were felt as one -sided. Washington’s procedure was also criticized in European capitals.
According to the new draft, the United States has regarded the military and economic aid achieved so far since the beginning of the Russian invasion in 2022 as its contribution to the “Investment Fund for the reconstruction of Ukraine”. Kiev would only benefit proportionately from the income if these services and an annual return of four percent are repaid. Ukraine would also be obliged to pay 50 percent of its income from new raw material and infrastructure projects in the funds.
According to “Bloomberg”, the new draft contract was handed over to Ukrainian representatives in Kyiv last weekend.
The Ukrainian President confirmed that the talks about the agreement would last. “We support the cooperation with the USA, we don’t want to give a single signal that the United States could cause to hire the help of Ukraine,” said Selenskyj in Paris on Thursday.
In addition, the agreement would grant the USA a right of first refusal to metals, minerals and oil and gas projects, even if they are not financed from the fund. The draft stipulates that Kiev must not offer other partners for better conditions for at least a year. In addition, Ukraine should not sell critical raw materials to so -called “strategic competitors” of the United States.
The draft is also available to the British “Telegraph”. The newspaper reports that, according to the document, almost all critical materials are covered, including rare earths and lithium, titanium, cobalt, aluminum and zinc.
Three of the five administrators of the investment fund would be determined by the United States, which secures Washington a majority in central decisions. Ukraine would only have B-shares and could only receive 50 percent of the license fees after its debt was repaid. The fund is said to be registered in Delaware, but is subject to the jurisdiction of the state of New York.
Observers see this a potential conflict with the desired EU accession of Ukraine. The USA would enable the United States to block or delay investments of European partners. According to “Bloomberg”, Selenskyj confirmed that an agreement with the United States should not violate the existing association agreement with the EU.
In diplomatic circles it is speculated that the United States also pursues political goals through economic engagement. In addition to access to strategic resources, the agreement could also be used as a means of pressure against Russia or to limit European influence.
The “Telegraph” describes the agreement as “unprecedented in the history of modern diplomacy” and “neocolonialist”. The energy lawyer Alan Riley from Atlantic Council spoke with a view to the agreement of an “expropriation document”. The newspaper itself draws a historical comparison and writes that the document reminds of the unequal contracts that China was forced by European powers in the 19th century.
The final version of the contract is still pending. According to Bloomberg, Ukraine wants to submit its own proposals during the week. From the US Ministry of Finance it was said that Washington was striving for a quick agreement.
