The agreement between the United States and Ukraine on rare earth materials provides for the establishment of a commercial fund in which the United States will have a 100% financial interest and Ukraine will allocate funds for it. The text of the agreement, which is current as of Friday evening, February 21, is available to Ekonomichna Pravda.
The document is to be signed by Ukrainian Foreign Minister Andriy Sybiga and US Secretary of State Marco Rubio.
According to the draft agreement, Ukraine and the United States are establishing a commercial investment fund for reconstruction, in which the United States will retain 100% of the financial interest. Ukraine and the United States will manage it jointly.
The Fund is expected to help increase foreign direct investment in Ukraine by at least two times for every dollar contributed. The goal is to return Ukraine’s GDP to the level of the end of 2021.
The Investment Fund will receive 50% of revenues from Ukrainian mineral and oil and gas resources (less actual costs) for reinvestment in the Ukrainian economy (mining and processing infrastructure, ports, etc.).
In addition, the draft agreement provides for the redirection of revenues from other Ukrainian sources to be determined by the governments of Ukraine and the United States.
Revenues from facilities that were occupied by Russia at the time of signing the agreement may exceed 50% in the event of de-occupation.
Contributions of Ukrainian revenues to the fund will continue until the amount agreed upon by the governments is reached. All non-credit financial assistance from the United States that comes to Ukraine after the agreement is signed will increase the threshold for contributions from Ukrainian revenues.
According to the text, the United States intends to make a financial commitment to help Ukraine in an amount to be determined separately.
The agreement on the fund will not contradict Ukraine’s other international obligations, as well as its future integration into the EU or other associations.
Ukraine and the United States undertake to immediately begin drafting a separate agreement that will define the details of the future Fund.
It is noted that the Ministry of Economy will be responsible for drafting the future agreement on the part of Ukraine.
President of Ukraine Volodymyr Zelenskyy believes that without security guarantees, the economic agreement with the United States on rare earth metals will not work.
“If we do not receive security guarantees from the United States, I believe that the economic agreement will not work. Everything must be honest,” Zelensky said in an interview with NBC News.
The President of Ukraine made it clear that any deal involving Ukrainian minerals must be accompanied by security guarantees from the United States.
“We looked at what America imports, what rare earth metals, what America imports for its industry. And when we took titanium as an example, we say that we have titanium in Ukraine, and this is accurate information. And it’s enough for the industry for 40 years,” he said.
“Help us protect it, and we will make money on it together,” Zelenskyy said.
For its part, the United States called Ukraine’s position short-sighted, the Associated Press reports.
White House National Security Council spokesman Brian Hughes said in a statement that “President Zelensky is short-sighted in his assessment of the great opportunity the Trump administration has provided to Ukraine.”
Hughes said that the minerals deal would allow U.S. taxpayers to “recoup” money sent to Kyiv while also helping to develop Ukraine’s economy.
Hughes added that the White House believes that “binding economic ties with the United States will be the best safeguard against future aggression and an integral part of a lasting peace.” He added: “The United States recognizes this, the Russians recognize this, and Ukrainians should recognize this,” AR writes.
Approximately 57% of residents of Greenland, a self-governing territory of Denmark, support the idea of becoming part of the United States, according to a poll by Patriot Polling, cited by The Hill on Monday. According to the poll, about 37% of the island’s residents opposed the possible accession to the United States, while slightly more than 5% of respondents were unable to answer.
The survey involved 416 people, while the population of Greenland is almost 57 thousand people.
This is the first time that the Patriot Polling Center has conducted a survey outside the United States. The survey was conducted during the visit to Greenland last week by Donald Trump Jr, the son of US President-elect Donald Trump.
Earlier, Trump expressed a desire to include Greenland in the United States, as it would be in Washington’s national interests. At the same time, he did not rule out the possibility that he might use military force to achieve this goal. This caused concern in Denmark and other European countries. The Greenlandic authorities have emphasized that they are seeking independence from Copenhagen in the future, but not to become part of the United States.
There is already a US military base in Greenland. The island is considered a central link in ensuring the security of the Arctic, a starting point for sea routes through the waters of the region, and a territory where rare earth metals and other resources are found. Western media note that the island has reserves of graphite, copper, zinc, gold, diamonds, iron ore, titanium, vanadium, and uranium, and that exploration work has not been fully carried out.
In 2023, the number of Americans who use marijuana on a daily basis exceeded the number of those who drink alcohol daily, the Associated Press reports, citing a study by Carnegie Mellon University.
About 17.7 million people consumed marijuana daily or almost daily the year before last, compared to 14.7 million who drink alcohol with the same frequency, the study said. For comparison, in 1992, less than 1 million Americans used marijuana almost daily.
“A good 40% of marijuana users use it daily or almost daily. This pattern of consumption is more closely associated with tobacco than alcohol,” said Jonathan Caulkins, a researcher at the university.
He emphasized that the data is based on surveys, and respondents may have been more willing to admit to daily marijuana use due to the fact that it is becoming more socially acceptable in the United States.
While marijuana is legal in most states for medical or recreational use, it is still prohibited at the federal level.
Studies show that frequent use increases the likelihood of becoming addicted to marijuana or developing cannabinoid psychosis, said David Gorelick, a professor of psychiatry at the University of Maryland School of Medicine.
The number of housing starts in the United States in February increased by 10.7% compared to the previous month and amounted to 1.521 million at an annualized rate, according to a press release from the country’s Commerce Department. This is the most significant increase in the last nine months.
According to the revised data, in January the number of new buildings was 1.374 million (down 12.3%), not 1.331 million (down 14.8%), as previously reported.
Analysts on average had forecast a 7.1% decline from the previously announced January level, according to Trading Economics.
Construction of single-family homes jumped 11.6% last month to 1.129 million. The number of new apartment buildings (including apartments and condominiums), a more volatile segment of the market, increased by 8.6% to 377 thousand.
Meanwhile, the number of building permits for new homes in February increased by 1.9% to 1.518 million in annualized terms. This is the highest figure since August last year. Analysts had expected a rise of only 0.4%.
At the same time, the number of permits for the construction of single-family houses increased by 1%, and apartment buildings – by 4.1%.
Sales in the secondary housing market in the United States in January increased by 3.1% compared to the previous month and amounted to a five-month high of 4 million homes at an annualized rate, according to a report by the National Association of Realtors (NAR).
According to the revised data, sales totaled 3.88 million homes in December 2023.
Analysts on average expected the figure to rise to 3.97 million homes from the previously announced December level of 3.78 million, Trading Economics reports.
Resales of housing in the United States in January were 1.7% lower than a year earlier.
The median house price increased for the seventh consecutive month – by 5.1% in annual terms – and reached $379.1 thousand, updating the historical high for January.
The number of homes offered for sale at the end of last month amounted to 1.01 million, which is 3.1% higher than a year earlier and 2% higher than in December. At the current rate of sales, it would take 3 months to sell the homes for sale, compared to 3.1 months in December. It is believed that a six-month lead time indicates a balanced market, and less than five months indicates a tense situation.
Houses were sold in January in an average of 36 days, compared to 29 days in December and 33 days in January last year.
The secondary market accounts for about 90% of contracts for the purchase of housing in the United States, and they are taken into account in the statistics only after the transaction is completed.
