"Glad they declined": Economist explains why Zelensky chose not to sign the metals agreement with the USA.

The United States is interested in gaining access to Ukrainian natural resources, particularly rare and rare-earth metals, as previously stated by U.S. President Donald Trump. However, on February 12, during a meeting between Volodymyr Zelensky and U.S. Treasury Secretary Scott Bencs, the agreement that allegedly included the development of metal deposits in Ukraine by American companies was not signed, reported CNN.

According to economist and financial analyst Alexey Kusch from the Analytical Center "United Ukraine," the decision to refuse the deal was the right one.

He believes it is crucial for Ukraine to assert that thorough research on reserves should be conducted by Ukrainian state structures, meaning it is essential to first determine the volume of natural resource reserves.

"There should be a passportization of these natural resources. Perhaps such studies can be funded through concessional loans from Western partners, as they are interested in speeding up this process. However, it must still be carried out by Ukrainian structures, even if the funding is external. Secondly, this should occur exclusively under a cluster development model. This means it is necessary to clearly define the schedule, how much natural resource should be processed in Ukraine, what the depth of processing should be, and to establish a clear timeline for the development of new production stages. In other words, there should be a timeline for when an additional processing stage for these natural resources should be introduced. This must be based on a cluster model. And this should be incorporated into the agreement, which should be an investment agreement with mutually beneficial conditions for both parties. This agreement must not be framed as some sort of financial offset or as a transfer against certain loans. Otherwise, it will echo neo-colonial practices, which significantly undermines the authority of the state," Alexey Kusch explained.

According to the expert, the current position of the U.S. resembles the practice of "open letters" regarding natural resources that existed in the 19th century.

Recall that Volodymyr Zelensky stated in an interview with Reuters that Ukraine will not give up rare-earth metals and other minerals in exchange for U.S. assistance, but will propose a mutually beneficial partnership for their joint extraction and use.