Washington is actively pursuing a bilateral deal aimed at ensuring Ukraine's security in exchange for access to a portion of its mineral wealth. This deal is intended to take precedence over any existing or future obligations that Kyiv may have towards other allies, including the European Union (EU), should Ukraine join the bloc. This information is derived from a draft agreement reviewed by Euronews.
The United States is expected to finalize a bilateral agreement on establishing a Reconstruction Investment Fund this Wednesday, according to a source familiar with the proposal. This two-way deal, along with the associated funding agreement, is designed to be a cornerstone of both bilateral and multilateral agreements. It is a strategic move toward establishing lasting peace in Ukraine.
The proposed fund aims to bolster Ukraine’s defense and reconstruction efforts until its economy is restored to its pre-invasion state, as it was at the end of 2021. Kyiv is expected to contribute half of the funds, minus operating expenses, or up to two-thirds (66%) for territory currently occupied by Russia that might be liberated in the future.
The draft agreement stipulates that any funding will include “representations and warranties” to ensure that Ukraine’s contributions to the fund remain unaffected by any third-party obligations. This clause is crucial as it safeguards the fund’s disposition of resources.
Furthermore, the document indicates that these obligations will not interfere with Ukraine’s potential participation in integration unions or free trade zones, clearly considering Ukraine's potential EU accession.
At the time of publication, neither the Ukrainian nor US governments had responded to requests for comment on the draft agreement.
European Council President Antonio Costa emphasized that EU accession is pivotal for Ukraine's future. During a joint press conference in Kyiv with EU leaders and Canadian Prime Minister Justin Trudeau, Costa stated that joining the EU would provide the most significant security guarantee for Ukraine.
European Commission President Ursula von der Leyen also expressed optimism, suggesting that Ukraine might join the EU even before 2030.
Ukrainian President Volodymyr Zelenskyy expressed hope that the US would continue its support. He stressed the importance of maintaining unity between Europe and the US, highlighting that Ukraine’s potential membership in NATO or the EU could significantly enhance its territorial protection.
On the topic of security guarantees, Zelenskyy revealed that discussions with Washington are ongoing, but details remain confidential. "We will discuss, now it's not for public because we didn't make a decision, about the contingents and infrastructure for security guarantees," Zelenskyy noted, emphasizing the importance of strategic confidentiality.
Finnish President Alexander Stubb urged European leaders to assert themselves in the negotiation process, from which they have largely been excluded. Stubb called for a unified strategy among European countries to secure a seat at the negotiation table, especially in light of recent shifts in the trans-Atlantic partnership.
