The Kyiv Independent has obtained the full text of the mineral agreement between Ukraine and the US. My translation:
- There is a fund. The US share of the fund will be "to the extent permissible under applicable United States laws." Details will come later in a Fund Agreement.
- The fund will collect money contributed to the fund.
- Ukraine will contribute to the fund 50% of all money earned from mining of natural resources.
- The US supports a prosperous Ukraine.
- The fund will invest in Ukranian projects, mainly mineral extraction.
- Ukraine won't sign any deals that encumber the fund.
- The fund is commercial in nature.
- The Fund Agreement will ensure the fund can't evade sanctions.
- The Fund Agreement will be developed soon.
- This agreement will be part of lasting peace.
- This agreement is binding.
I have no idea what the US gets out of this. Some unspecified share of an investment fund that may or not ever be profitable, I guess. It doesn't seem to be much of a deal.
trump only cares about the propaganda value of any 'deal'
+1
First comment already got it right.
Kevin: "I have no idea what the US gets out of this. "
Trump doesn't care what US gets out of it (and neither does Zelensky).
Zelensky cares very much that the US doesn't get to rob them blind. Basically the agreement requires 50% of the taxes/royalties from Ukrainian mining get funneled back into subsidies for new mining projects.
It's even less clear what Ukraine gets out of this. This is the most non-deal deal I have ever seen.
But....there's a fund!!!
I think they get time
And they are not being sold out immediately to Putin
+1
Reiterating the point that this is designed to appeal to the ego of the convicted felon Trump, allowing him to use Ukraine's money when he announces (1) US giving weapons and ammo to Ukraine, (2) US contributing to the rebuilding effort, and (3) when he announces a big gold statue of his fat ass, disfigured into a tight Stallone, placed in the center of Kyiv.
I'm just surprised the agreement doesn't require the fund to be invested in $Trump coins.
Well it's not finalized yet . . .
Well, just based on what Kevin sees the US getting out of this, it could be a lot worse. In the same vein, it could be a lot worse for Ukraine. Fingers crossed
"Quietly fade away" would be a safe bet, I reckon. Like the Gaza Riviera and the annexation of Canada.
if "quietly fade away" is an option, sounds like there's no real deal at all.
There's no deal in the sense either party has made binding undertakings. I consider it a conditional offer by Ukraine: here in general terms is what they'll do for America in return for a security guarantee. I doubt Trump could persuade Congress to provide the latter even if he wanted to, which he doesn't.
I think the whole thing can described as "Zelensky tries to manuever around Trump, maybe with some success".
This whole thing seems much ado about nothing.
https://digbysblog.net/2025/02/26/is-it-really-a-deal/
What is the purpose of this fund and why create a fund with Ukraine if, as Trump has stated, Ukraine is the aggressor against Russia? As usual with Trump, you have to wade through a quagmire of lies before you reach a mountain of duplicity and evil intentions.
Not according to the very first paragraph of the agreement:
WHEREAS the United States of America has provided significant financial and material support to Ukraine since Russia’s full-scale invasion of Ukraine in February 2022;
As I said, a quagmire of lies ...
The purpose of the fund is entirely covered by items 3 and 5. 50% of all taxes and royalties collected by the Ukrainian government must be given to the fund and they must be used to subsidize future mining projects. I expect the US hopes that the subsidies would be restricted to US companies but the Ukrainians are correctly refusing that demand.
Other reports suggest Ukraine's mineral wealth is vastly overstated. So this is another case of:
1. Trump making outrageous demand.
2. "Deal" demanded.
3. Arrangement arrived at so that Trump can claim it's the best deal since the last one he negotiated.
4. Scrutiny does not support that any meaningful advantage was gained, but Trump appeased and other side awaits next demand.
5. In this case, Ukraine gains more valuable time.
For a man with "no cards" to play, Zelinsky is doing remarkably well.
Ukraine should sign the deal, delay any mining until after the war ends (which I assume is happening anyway), delay any payment once the mines reopen, and hope that a Dem regains the White House in the meantime and magnanimously waives the whole disgusting blackmailing deal away. You know like we did for the PPP loans that suddenly didn’t have to be paid back despite those having contracts that were “binding” that said they did.
Huh? PPP loans were forgivable from the start, so long as you spent the money according to PPP restrictions.
The “deal” is very reminiscent of Trump “opening the spigot” in California to allow millions of gallons of water from the Pacific Northwest to flow into California and put out the fires in Los Angeles.
+1
Is there anything that restricts the deal to an independent Ukraine? If Russia subjugates Ukraine, does the deal, such as it is, still hold?
If Russia subjugates Ukraine, the Orange Guy MIGHT be allowed to do a NEW deal with VVP, depending on what's in Russia's interest.
I have no idea what the US gets out of this.
The Orange Guy gets to say he made a Historic DEAL, possibly the BEST deal EVER between nations, many people are saying! And along with that he is bringing PEACE and ENDING THE WAR, definitely for sure, real soon now!
The rubes will eat it up. Media bobbleheads will jabber about it for days. Republicans who know better will say nothing, because one wouldn't want to interfere in delicate High-Stakes Diplomacy where war and peace are at stake [rolls eyes].
Thanks again, Republicans! You really know how to pick 'em!
When I first heard reports of what Trump was bellowing about this, it seemed as if we were demanding that Ukraine turn over a large portion of its mineral wealth to repay aid already sent or something.
Glad this is a real nothing burger. Ukraine is going t need all the money it an to rebuild after the war and finance what is likely to be a huge military spending burden.
Thank goodness Trump is far better at talk than action. Just ask Stormy Daniels...
Let's hope and pray that a few courageous warrior-journalists will defy death and actually tell the truth about this "deal," rather than just running clip after clip of Trump and Musk and Vance and an assortment of testicle-free GOP Senators bragging about how this once AGAIN shows to the American people why Trump is president because he knows the Art of the Deal.
Just another episode of The Trump Show. Tentative title “The One With The Mineral Rights”.
When der Trumpenfuhre orders the release of water in California, the water gets released. Even if it means dumping water into the desert in central California hundreds of miles away from the fires. Likewise, when der Trumpenfuhrer demands a mineral agreement with Ukraine, his minions will cobble together some form of agreement.
Looks more like this will blow up in everyone's face.
Sounds like a way to get Zelenskyy to travel so that Vlad's minions can get a shot at him.
Bingo. Will they Yamamoto his plane somewhere over the Atlantic out of sight?
It doesn't have to be a big deal. It just has to be so that Trump can brag about it being the best deal ever. I'm surprised you haven't picked up on the snake oil yet.
hard as it is for me to imagine Trump actually making an intelligent deal, possibly for the first time, is it not a good thing that the US now has an interest in resources that would otherwise be targeted by the Russians?
It strikes me that his posturing has gone a little bit both ways as far as who he's outraging on a given day, most likely to the end of waiting to see what happens and then claiming that as an accomplishment of his
As long as the Orange doesn't think this should result in a Nobel Peace Prize for him.
Blessed news, Kevin. Best wishes for that improvement in lung capacity that you so want and need. Thank you for all the insights you give us every day.
Does anyone know if Ukraine is a signatory to the Test Ban Treaty? They used to have nukes, so they may have signed it when Russia did. But if they HAVEN'T signed it, what is to stop them "obtaining" a few nukes from England or France (who has LOTS of PU from all those reactors) and "testing" them in the eastern regions of their country. All within Ukraine, of course. It's just a test like we used to run in New Mexico, right? The Soviets shot them off out in Kazakhstan somewhere.
To me it looks like it is basically setting up a sovereign wealth fund, something rich countries like Norway, Switzerland, and Saudi Arabia have, but lets the US tap into it in an amount TBD or something. So a not-so-sovereign wealth fund.
This is insane.
For those of us exulting over another phony Trump "deal," keep in mind that we also crowed about the transparently bogus "deal" that presumably kept the Canada and Mexico tariffs from being implemented. But it looks like Trump is going ahead with those tariffs anyhow. So, "deal" or no "deal," Americans are still not getting a break on account of any Presidential fatuousness.
"This agreement is binding"
It's just as binding as the Iran Nuclear Deal and USMCA (which Il Duce says he will abrogate next week)
Any country which signs an agreement or treaty with the US, or expects it to honor it's commitments are a bunch of suckers and losers.
I think you missed item 2: The fund will collect money contributed to the fund.
Trump wants a slush fund that he can use however he wants. This is fundamentally another way to facilitate bribery.