This bilateral agreement establishes a U.S.-Ukraine Reconstruction Investment Fund, with both governments contributing equally to the fund’s equity. Ukraine will contribute 50% of revenues from future monetization of its natural resources, while the U.S. offers a long-term financial commitment. A subsequent Fund Agreement, requiring Ukrainian parliamentary ratification, will detail governance, investment strategies, and distribution terms. The agreement emphasizes preventing those who acted adversely to Ukraine from profiting from reconstruction efforts and protecting mutual investments.
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President Trump declared that Ukraine’s NATO aspirations are unrealistic, a statement made during a press conference following a Cabinet meeting. He plans upcoming negotiations with Putin to resolve the Ukraine conflict, a process that excludes explicit inclusion of Zelenskyy. This strategy follows Trump’s recent controversial dialogue with Putin and his criticism of Zelenskyy, prompting sharp rebukes from critics. Furthermore, a finalized U.S.-Ukraine mineral resource revenue-sharing agreement has been announced, despite lacking explicit U.S. security guarantees for Ukraine.
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Following Russia’s invasion, President Macron stressed that any Ukrainian peace agreement cannot equate to surrender, a sentiment echoed by Ukrainian President Zelensky’s call for peace in 2024. Discussions between Macron and Trump centered on potential peacekeeping deployments, though disagreements remain regarding U.S. financial and military commitments. Trump expressed optimism for a swift resolution, potentially involving a deal granting the U.S. access to Ukrainian resources, while Putin showed increased openness to European involvement in negotiations. However, the U.S.’s recent alignment with Russia at the UN raises concerns about the future of Western support for Ukraine.
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In the early hours of February 26th, Ukrainian forces launched a coordinated drone strike targeting strategic Russian infrastructure. The operation, involving the AFU and HUR, successfully hit the Tuapse Oil Refinery in Krasnodar, causing significant damage and disrupting oil exports crucial to funding the Russian war effort. Simultaneously, military airfields in occupied Crimea were also attacked. These actions coincided with a large-scale Russian drone attack on Ukraine, resulting in civilian casualties.
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In a press conference, Russian Foreign Minister Sergei Lavrov rejected calls for a ceasefire along the current front lines, citing Russia’s constitution, which was amended to include illegally annexed Ukrainian territories. Lavrov opposes foreign peacekeeping deployments, arguing that such actions would escalate the conflict rather than de-escalate it. He further asserted that the US was not involved in discussions regarding rare earth metal extraction in occupied Ukrainian regions during a recent Saudi Arabia meeting. Lavrov stated that Russia will only discuss a resolution to the conflict by addressing its root causes. Upcoming US-Russia talks in Istanbul are planned for February 27th.
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Ukraine’s parliament unanimously passed a resolution affirming President Zelensky’s legitimacy and rejecting calls for immediate elections during martial law. The resolution, supported by 268 members, explicitly states that elections will only occur after a comprehensive and just peace is achieved, directly countering claims from Trump and Putin questioning Zelensky’s authority. This action solidifies Zelensky’s mandate to negotiate peace and potentially complicates ongoing US-Russia peace talks which excluded Ukraine. The vote underscores Ukraine’s defiance of external pressure to hold elections prematurely.
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Latvia’s foreign minister warns that Russia’s peace initiatives are aimed at weakening the U.S. and regaining control over Ukraine, objectives unmet through military means. Despite Russia’s limited territorial gains in Ukraine, Putin seeks to achieve these goals through negotiations, underscoring the need for allies to remain vigilant. Europe’s involvement in peace talks is crucial, emphasizing the need for a unified transatlantic approach that prioritizes Ukraine’s security and a lasting peace, not merely a temporary ceasefire. Latvia, along with other Baltic states, is bolstering its defense capabilities to deter further Russian aggression.
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The US’s support for a Russian-backed UN resolution, which avoided blaming Russia for the Ukraine conflict, contrasts sharply with its rejection of a European-led resolution condemning the invasion. This conflicting vote pattern, occurring on the third anniversary of the war’s start, highlights a growing rift between Washington and its European allies. The US resolution, passed in the UN Security Council, urged a swift end to hostilities but lacked condemnation of Russian aggression. This action follows President Trump’s shift towards Moscow and away from longstanding US support for Ukraine.
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Russia proposed a deal to the Trump administration offering U.S. access to rare earth minerals in Russian-occupied Ukrainian territories, specifically Donetsk and Zaporizhzhia. This followed a similar, rejected proposal from U.S. Treasury Secretary Scott Bessent to President Zelenskyy. The proposal, discussed at a Saudi Arabia meeting, aims to secure Russia’s control of seized Ukrainian land while potentially appealing to Trump’s financial interests. Trump expressed openness to such an agreement, while the Trump administration has neither confirmed nor denied its commitment.
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A recent study by Economists for Ukraine reveals that the actual value of US military aid to Ukraine significantly differs from official figures. The discrepancy stems primarily from the overvaluation of supplied US arms stockpiles and indirect aid transfers through allies. While the US claims over $60 billion in aid, the study estimates the true value of military aid at $18.3 billion, with an additional $32.6 billion in direct budget support. This total of $50.9 billion, though substantial, represents a small fraction of the US federal budget.
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John Q. Hosedrinker