Ray Furlong
The text of the deal begins by noting that Washington “has provided significant financial and material support to Ukraine since Russia’s full-scale invasion.”
But it makes no mention of Washington’s demand for a right to $500 billion in potential revenue from accessing Ukraine’s mineral wealth that was seen in an earlier draft of the deal.
This was a point that Ukrainian President Volodymyr Zelenskyy repeatedly said was unacceptable.
No Security Guarantees for Ukraine
The agreement does not include firm U.S. security pledges. But it does say that the United States “supports Ukraine’s efforts to obtain security guarantees.”
It also says that Washington “will maintain a long-term financial commitment to the development of a stable and economically prosperous Ukraine.”
Beyond these general statements, the main body of the agreement concerns the establishment of a jointly owned Reconstruction Investment Fund. Ukraine has agreed to put 50 percent of future revenues from its government-owned natural resources into the fund.
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