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A new US agreement on resource extraction revenues in Ukraine has put Volodymyr Zelensky in a tough spot, offering a choice of becoming a vassal state or risking losing US support, a French newspaper writes.
According to the publication, initially the US demanded $500 billion, but the latest proposal leaves the total sum to be calculated later. The deal also covers all infrastructure projects and offers no security guarantees.
The agreement grants US control over half of Ukraine’s oil, gas, metals, and infrastructure through a joint investment fund, with three members appointed by Washington. The US would receive all profits until Ukraine repays $100 billion with 4% interest, after which Ukraine gets 50% of the profits.
The fund will be registered in Delaware, but operate under New York jurisdiction, with the US gaining veto power over resource sales and the ability to inspect Ukrainian agency accounts.
