"Transforming the war into a commercial venture," says economist on the deal with the U.S. regarding rare earth metals.

The authorities recently announced the need to conduct an audit of all Ukrainian mineral deposits; however, according to Vitaly Shapran, the audit of subsoil resources is nothing more than a fabrication aimed at creating yet another scheme to "siphon off budget funds."

"Geological exploration in Ukraine has been conducted since the Soviet era, and all processes were documented. I admit that it is possible to enhance geological exploration to discover something new in areas that have not been thoroughly surveyed, but this is not an audit; it is a process of further exploration of mineral resources. I believe the idea of an audit should be tossed in the bin. New exploration should operate continuously. We need to study our land," the expert noted.

He reminded that foreigners have previously participated in the extraction of mineral resources in Ukraine.

"The Canadian mining company Black Iron Inc., which operates in Ukraine, has signed a long-term agreement with the local authorities of Kryvyi Rih for the lease of 248 hectares of land. This area is critically important for the implementation of the Shymanivske iron ore deposit development project," the expert stated.

It is worth noting that currently, data on mineral reserves in Ukraine is classified, and last week, the European Business Association even appealed to the government requesting assistance in lifting the relevant classifications and provided its proposals.

Additionally, last week, Ukrainian President Volodymyr Zelensky did not sign an agreement granting the United States access to rare earth resources, as the document is too focused on U.S. interests.