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Strategies & Market Trends : World Outlook -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (45328)	3/22/2025 7:44:10 AM
From: Les H	Read Replies (1) \| Respond to of 49140

Trump Trying to Retrade Minerals Deal with Ukraine Posted on March 22, 2025 by Yves Smith The Financial Times today has an important tidbit that provides yet more confirmation of why no one, particularly Russia, should try to enter into a deal with Trump. Even by the staggering standards of US/Collective West duplicity, Trump stands apart. As the pink paper reports, the Administration still has not signed the minerals pact with Ukraine, even though that was a commitment agreed in the US-Ukraine talks in Riyadh on March 11. Recall Zelensky was in Riyadh and it could have easily been executed then. Some commenters volunteered it was odd that it wasn’t. One of the real no-nos of negotiating is what is called “retrading a deal” as in trying to reopened settled terms. It is proof of bad faith. The only way to make it somewhat acceptable is to do all of 1. Grovel like crazy; 2. Explain why Shit Happened so that you need a change in the provisions; 3. Offer a concession in return for what amounts to a waiver in the original deal. Now one can argue that Trump is merely jerking around Zelensky because he can. But even that as a behavior in geopolitics, as opposed to getting revenge on an ex-business partners or spouse, shows extreme emotional maturity taking precedence over sensible and productive arrangements. Remember, this isn’t just a bad look. It’s a waste of time only for the sake of giving Trump some jollies. As for the substance, it’s even worse than general take above suggests, since if Trump were to get what he wants, it would at least complicate and potentially poison any settlement with Russia. We warned of that from the get-go when the minerals agreement idea became somewhat serious. Many (most?) of the valuable mineral deposits like in the areas of Ukraine that Russia claims and no way, no how is going to ceded. Putin swatted back initial Trump noises about the US position by saying of course the US could help develop them…as Russia has sometimes allowed oil majors to do in Russia. Despite Ukraine officials saying they are willing to sign the deal, Zelensky has already rejected letting the US own or otherwise control its nuclear power plants. And surely Trump knows the biggest is the Zaporzhizhia facility, now in Russia hands and in territory Russia has annexed. From the Russian perspective, this is not an asset that Ukraine could trade to the US even if it wanted to. But even the subhead of the Financial Times account says otherwise: “Trump administration wants to include nuclear plant under Russian control in broader economic agreement.: Naked Capitalism