A proposed metal deal between Ukraine and the United States was left unnight after a hot exchange between US President Donald Trump and Ukrainian President Volodimir Zellinski in Washington on Friday.
The agreement, aimed at facilitating US investment in the Lithium sector in Ukraine, was seen as a step towards reducing Kiev’s dependence on China with the help of the war economy in Ukraine.
During their oval office meeting, Trump put the deal as a way to America to recover some financial aid and weapons that have been sent to Ukraine since Russia’s invasion three years ago. However, Zelenskiy has pushed stronger security obligations, while emphasizing that without guarantees, investors will remain reluctant.
The discussion quickly turned confrontation.
“You are not in a good position. Trump told Zelinski, who reported,” I do not play paper, I am serious, sir. “Trump insisted that an agreement with Russian President Vladimir Putin was possible, but Zelinski rejected the idea, saying:” Do not make any concessions with a killer. “
The repercussions of the meeting have decreased from Ukrainian hopes to secure support for the mining sector. The deal was expected to open a major investment, helping to develop Polokhivske deposits, one of the largest Europe.
The deposit, which is located 240 km from the front lines, is still not developed due to security risks and lack of financing.
The draft of the deal, which was reviewed before the meeting, indicated that Ukraine will contribute 50 % of the future revenues from the liquefaction of the state -owned natural resources to the investment fund in rebuilding the United States of America. However, it does not contain security guarantees, which is a major request from Kyiv.
Despite the failure to sign the agreement, Ukraine remains a decisive source of minerals classified as a strategy by the US government. It carries sediments out of 22 of 50 minerals that are necessary, including lithium, titinium and rare earth elements.
However, detailed geological surveys have not been conducted for decades.
With no immediate deal, the United States is unlikely to face a meaningful challenge to China’s domination of the global supply chain. China, which is already the third largest producer of Lithium, controls more than 90 % of rare ground treatment, creating the bottleneck for countries looking to diversify the show.
With the end of the meeting, Trump explained that without turning in Kiev’s position, the United States’s support was not guaranteed. “Either you make a deal, or we are outside,” he told Zelenskiy.
After a tense exchange, US officials issued instructions to the Ukrainian delegation to leave and cut the short meeting. As the metal deal stops, Ukraine now faces more uncertainty about both investing in its natural resources and the continued American military support.
