The United States and Ukraine are close to finalizing a mineral deal after intense negotiations, with a minor issue still needing resolution.
Ukraine’s prime minister revealed that First Deputy Prime Minister Yulia Svyrydenko is en route to Washington to sign the pivotal agreement. This deal holds strategic importance for Kyiv in its efforts to improve relations with President Donald Trump and the White House, especially as Trump aims to broker peace in Russia’s conflict with Ukraine.
After navigating challenging talks, Ukraine successfully obtained a crucial concession from the Trump administration. This agreement stipulates that only future military aid will be considered as the US contribution to the deal, as reported by the Financial Times.
President Donald Trump gestures as Ukrainian President Volodymyr Zelenskyy looks on at the White House in Washington, D.C., Feb. 28, 2025. (REUTERS/Nathan Howard)
“Truly, this is a strategic deal for the creation of an investment partner fund,” Shmyhal said on Ukrainian television. “This is truly an equal and good international deal on joint investment in the development and restoration of Ukraine between the governments of the United States and Ukraine.”
However, a snag arose as Svyrydenko’s plane headed to Washington, with U.S. officials reportedly demanding that Ukraine sign three documents at once—the framework, a detailed fund agreement and a technical document—which Ukraine says is not immediately possible due to required parliamentary ratification, according to the Financial Times citing three people briefed on the situation.
Treasury Secretary Scott Bessent’s team told her she should “be ready to sign all agreements, or go back home,” the Financial Times reports, citing three people familiar with the matter.
In this photo provided by the Ukrainian Emergency Service, firefighters carry a body of the victim following Russia’s missile attack that killed at least 24 civilians in Sumy, Ukraine, Sunday, April 13, 2025. (Ukrainian Emergency Service via AP) (Ukrainian Emergency Service via AP)
The U.S. is seeking access to more than 20 raw materials deemed strategically critical to its interests, including some non-minerals such as oil and natural gas. Among them are Ukraine’s deposits of titanium, which is used for making aircraft wings and other aerospace manufacturing, and uranium, which is used for nuclear power, medical equipment and weapons. Ukraine also has lithium, graphite and manganese, which are used in electric vehicle batteries.
Unlike an earlier draft, the deal would not conflict with Ukraine’s path towards European Union membership — a key provision for Kyiv.
The two sides signed a memorandum, published on April 18, as an initial step towards clinching an accord on developing mineral resources in Ukraine. In the memorandum, they said they aimed to complete talks by April 26 and to sign the deal as soon as possible.
Reuters and The Associated Press contributed to this report.
