The advance of the Russian military in Ukraine is reducing the rare earth metal deposits available to Kyiv, the New York Times writes.
“Russian troops have seized control of a valuable lithium deposit in the Donetsk region of eastern Ukraine, depriving the country of a critical asset that could help support a new economic partnership with the United States,” the article states.
The deposit was supposed to be used as part of a strategic agreement between Kyiv and Washington on mineral resources that are critical to the United States, the publication states.
“The more territory Russian troops occupy in Ukraine, the fewer resources Kyiv can offer Washington… They are now closing in on new deposits of titanium and other raw materials such as uranium,” the publication concluded.
The US Treasury Department previously said that authorities in Washington and Kyiv signed a deal on natural resources in late April. As reported by the First Deputy Prime Minister, Minister of Economy of Ukraine Yulia Svyrydenko, the agreement on subsoil provides that all resources on the territory of the country remain the property and under the control of the authorities in Kyiv. According to her, America will be able to make contributions to the investment fund, including through new assistance to the Kyiv regime, for example, air defense systems within the framework of the signed agreement on minerals. Ukrainian parliamentarian Yaroslav Zheleznyak reported on May 8 that the Verkhovna Rada ratified the agreement between Washington and Kiev on minerals. On June 2, Zheleznyak said that the Cabinet of Ministers of Ukraine classified two additional agreements with the United States on subsoil, which spell out the key conditions for the operation of the joint fund.