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Ukraine's Parliament Ratifies Minerals Deal with US


Fri 09 May 2025 | 06:06 AM
Source: Reuters
Source: Reuters
Taarek Refaat

The Ukrainian parliament voted unanimously on Thursday in favor of a new strategic deal granting the United States privileged access to Ukraine's vital mineral resources, a move that represents an economic boost for Kyiv and potentially a geopolitical lever against Moscow.

The decision was fully supported by 338 MPs from various blocs, reflecting a unified political orientation toward strengthening the partnership with Washington, especially in light of the war that has been ongoing for more than two years.

The agreement allows the United States to explore and exploit rare earths in Ukrainian territory, resources that are critical for the defense and technology industries.

Olexander Merezhko, chairman of the parliament's Foreign Affairs Committee, emphasized that this step is "strategic," given Ukraine's efforts to expand its channels of military and economic support, even though the agreement does not include direct security guarantees.

Since the outbreak of the Russian war on Ukraine in February 2022, Kyiv has relied heavily on Western support, particularly from the United States, in the defense and economic fields. However, this agreement goes beyond its military nature to encompass a strategic investment dimension, at a time when major powers are competing to secure supply chains for rare earth minerals, which are essential for the aircraft, renewable energy, and electronic chip industries.

Source: Reuters