Breakthrough in US-Ukraine talks on minerals deal is unlikely – Reuters

The talks between Ukrainian and US officials on US access to Ukrainian mineral deposits took place in an "antagonistic" atmosphere that seriously complicates any breakthrough.

Source: Reuters with reference to an informed source and a US Treasury official

Details: The source said that the atmosphere was "very antagonistic", and therefore, serious progress in the talks at this stage seems unlikely.

According to the source, the latest draft of the Trump administration's proposal, which is much more expansive and maximalist than the original version, has caused particular tension.

The latest version of the agreement stipulates that the United States will receive priority access to Ukrainian subsoil and that all revenues – both from state-owned and private companies – should be directed to a joint investment fund.

Meanwhile, the agreement does not contain any security guarantees for Ukraine, a key demand of the Ukrainian authorities.

Quote: "The source said that one of the ‘Easter eggs’ found in the document was a US demand that the US government's International Development Finance Corporation take control of a natural gas pipeline from Russian energy giant Gazprom across Ukraine to Europe."

Details: A representative of the US Treasury Department commented on the negotiations, describing them as "technical in nature".

According to the source, the Ukrainian side has hired the law firm Hogan Lovells as an external advisor on the deal.

Background:

• On 11 April, the Ukrainian delegation arrived in Washington, DC, for a new round of talks between Ukraine and the US on the subsoil deal. The talks are expected to last two days, be mostly technical, and not involve high-level officials.
• Earlier, European Pravda reported that the administration of US President Donald Trump had returned to the version of the subsoil agreement a requirement for Ukraine to reimburse all the assistance that the US provided after the start of Russia's full-scale invasion in 2022.

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