Ukrainian President Volodymyr Zelensky announced his refusal to sign an agreement with the United States that would allow it to explore rare minerals in Ukraine during his talks with U.S. Vice President J.D. Vance at the Munich Security Conference.

Zelensky clarified that he instructed his ministers not to sign the agreement, pointing out that it focused on American interests without providing security guarantees for Ukraine. He added, “The agreement was not ready to protect us and our interests.”

The deal pertains to the United States’ rights to access rare earth minerals essential for the aerospace, defense, and nuclear energy industries.