Ukraine is on the verge of signing a significant minerals deal with the United States, according to Prime Minister Denys Shmyhal. This anticipated agreement aims to foster a joint effort between Washington and Kyiv in the development of Ukraine’s mineral resources.
Shmyhal described the agreement on national television as a balanced and mutually beneficial investment initiative aimed at the recovery and development of Ukraine amidst ongoing challenges. He expressed optimism, stating, “I hope that the agreement will be signed in the near future, within the next 24 hours, and we will take the first step.”
However, complications arose as U.S. Treasury Secretary Scott Bessent indicated that Ukraine was seeking last-minute amendments to the deal. Bessent confirmed the U.S. readiness to sign the agreement if Ukraine revised its position, though he did not specify the nature of the requested changes.
Originally, plans for the agreement to be signed had been laid out weeks earlier; however, tensions between U.S. President Donald Trump and Ukrainian President Volodymyr Zelenskyy delayed further discussions. Al Jazeera’s Alan Fisher, reporting from the White House, noted that both parties are still working out the final details, yet a signature on the deal is anticipated imminently.
A crucial aspect of the agreement revolves around Ukraine’s demand for security guarantees amid ongoing threats from Russia, which has been engaged in a prolonged invasion since 2020. The Trump administration believes that bolstering U.S. business interests within Ukraine could serve as a deterrent to potential Russian aggression in any event of a ceasefire.
Despite the focus on security, it remains ambiguous whether the forthcoming deal will include explicit security guarantees for Ukraine’s defense. Reports indicate that the agreement is structured to avoid implicating any existing financial obligations associated with past assistance received by Ukraine.
Instead, the framework establishes a joint investment fund, equally split between Kyiv and Washington, as indicated by a senior Ukrainian presidential source. This setup aims to ensure equity in partnership, creating a fiscal mechanism to support reconstruction efforts, which will entail contributions from both nations.
As part of the agreement, any new military assistance from the U.S. will count towards its contribution to the joint fund. Nonetheless, the drafted outline does not clarify how revenues from the fund will be allocated, who the beneficiaries will be, or who will hold decision-making authority over expenditures.
Furthermore, the draft stipulates that the U.S. and designated entities will obtain preferential, although not exclusive, access to new permits, licenses, and investment opportunities related to Ukraine’s natural resources, excluding existing agreements.
Earlier discussions had included provisions for Ukrainian natural gas infrastructure being an integral part of the deal, recognized as one of Ukraine’s key assets. However, it appears that gas infrastructure may not be encompassed in the current draft version of the agreement, according to sources familiar with the negotiations.
As both parties continue to navigate these complexities, the signing of the agreement could mark a pivotal moment in U.S.-Ukraine relations, particularly amid the ongoing conflict in the region.
image source from：https://www.aljazeera.com/news/2025/4/30/ukraine-says-it-is-set-to-sign-minerals-deal-with-us
