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President Trump has reportedly demanded half of Ukraine’s revenues from natural resources, ports and infrastructure as reparations for the billions of dollars the US contributed to Kyiv’s war effort.
The demand — which was included in a draft contract on the “reconstruction of Ukraine” that reached Ukrainian President Volodymyr Zelensky’s desk last week — has caused “consternation and panic” in Kyiv, according to The Telegraph.
The “Privileged & Confidential” document calls for the US to keep an indefinite, 50% stake in much of the war-torn nation’s economic activity through the creation of a joint investment fund, which aims to keep “hostile parties to the conflict” from benefitting in the rebuilding of Ukraine, the outlet reported on Monday.
The proposed contract covers the “economic value” associated with Ukraine’s vast natural resources, including “mineral resources, oil and gas resources, ports, other infrastructure (as agreed).”
Under the terms of the deal, the US would take 50% of the recurring revenues Ukraine gets from extraction and 50% of “all new licenses issued to third parties” in perpetuity.
The US would also hold “a lien” on revenues from new licenses and have a right of first refusal for the “purchase of exportable minerals.”
The memo notes that the contract will be “governed by New York law, without regard to conflict of laws principles.”
The contract would give Washington sovereign immunity and virtually complete control over Ukraine’s commodity and resource economy.
It appears to go well beyond Trump’s previous demand for $500 billion worth of rare earth minerals as payment for the military aid Washington has provided Kyiv.
Earlier this month, Zelensky signaled that he would support a reciprocal resource deal with the US in exchange for security guarantees as part of a potential peace settlement.
Trump, 78, told Fox News last week that Ukraine had “essentially agreed” to give the US access to half a trillion dollars in rare earth minerals, which are considered vital to US national security.
“They have tremendously valuable land in terms of rare earth [minerals], in terms of oil and gas, in terms of other things. I want to have our money secured, because we’re spending hundreds of billions of dollars [in Ukraine],” Trump told Fox News “Special Report” host Bret Baier in an interview taped ahead of last week’s Super Bowl.
The president insisted that the US should have access to Ukraine’s natural resources regardless of whether a peace deal between Russia and the former Soviet state can be successfully negotiated, arguing that the “more than $300 billion” the US has provided Ukraine dwarfs what other nations have contributed to the war effort.
“They may make a deal. They may not make a deal. They may be Russian someday, or they may not be Russian someday. But we’re going to have all this money in [Ukraine] and I say, I want it back,” Trump said.
The draft reconstruction deal would see Ukraine fork over more money, as a percentage of GDP, that Germany paid in reparations after World War I, according to The Telegraph.
The White House and State Department did not immediately respond to The Post’s request for comment.
