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Ukraine Agrees to Framework of US Critical Minerals Trade Deal

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Ukraine and the United States are nearing a deal to jointly develop Ukraine's mineral resources, with Ukrainian President Volodymyr Zelenskyy expected to travel to Washington to sign the agreement. The deal would lay the ground for future security guarantees from Washington.

    1. We will deliver our commitment to spend 2.5% of GDP on defence, but we will bring it forward so that we reach that level in 2027.
    2. We must stand by Ukraine, because if we do not achieve a lasting peace, then the economic instability and threats to our security, they will only grow.
    1. I will not accept [even] 10 cents of debt repayment in this deal. Otherwise, it will be a precedent.
    1. What better could you have for Ukraine than to be in an economic partnership with the United States?
    1. Without the United States and its money and its military equipment, this war would have been over in a very short period of time.
    2. Biden was throwing money around like it's cotton candy.
    3. I hear that he's coming on Friday. Certainly it's okay with me if he'd like to, and he would like to sign it together with me. And I understand that's a big deal, very big deal.
    4. They get their money back. We gave it in the form of nothing. So I want them to give us something for all of the money that we've put up.
    1. As I understand it, the US has considerably watered down its demands. That makes it more palatable to Kyiv, even though there is no security guarantee attached: essentially Ukraine gets nothing, but doesn't have to give much either.
    1. Trump has a focus on rare earth minerals — rather than agricultural products or other resources — as they are valuable to the US defence and security industry and provide leverage in US resource competition with China.
    1. It's crucial to remember that China dominates global supply chains for critical minerals, doing about 90 per cent of their processing.
    1. On the geo-economic side, we know that the Russians have played nasty, hardball with their hydrocarbons for political purposes, meaning oil and gas supply.