Ambrose Evans-Pritchard writes:

Donald Trump is holding a gun to the head of Volodymyr Zelensky, demanding huge reparations payments and laying claim to half of Ukraine’s oil, gas, and hydrocarbon resources as well as almost all its metals and much of its infrastructure.

The latest version of his “minerals deal”, obtained by The Telegraph, is unprecedented in the history of modern diplomacy and state relations.

“It is an expropriation document,” said Alan Riley, an expert on energy law at the Atlantic Council. “There are no guarantees, no defence clauses, the US puts up nothing.

“The Americans can walk away, the Ukrainians can’t. I’ve never seen anything like it before.”

The text leaves little doubt that Mr Trump’s chief objective is to incorporate Ukraine as a province of America’s oil, gas and resource industries.

It dovetails with parallel talks between the US and Russia for a comprehensive energy partnership, including plans to restore West Siberian gas flows to Europe in large volumes, with US companies and Trump-aligned financiers gaining a major stake in the business. [Continue reading…]