First Deputy Prime Minister Yulia Svyrydenko announced on Wednesday that Ukraine and the United States have made significant progress in their discussions on a minerals agreement, with plans to sign a memorandum soon.
As part of his efforts to conclude Ukraine’s conflict with Russia, U.S. President Donald Trump is pursuing a bilateral minerals agreement. Additionally, Trump regards it as a means for recovering billions of dollars that the U.S. has allocated to Ukraine’s military assistance.
“Our technical teams have worked very thoroughly together on the agreement, and there is significant progress.” Svyrydenko shared on social media platform X that the legal team has made several adjustments to the draft agreement.
Svyrydenko said negotiations on the deal would persist, with both parties agreeing to finalize a memorandum shortly as an initial step to document the advancements made.
Taras Kachka, the Deputy Minister of Economy in Ukraine, shared on national television that discussions are progressing, and it seems probable that a provisional document or memorandum could be signed in the near future.
A new, more comprehensive minerals agreement was proposed by the Trump administration last month. This agreement does not provide Ukraine with any future security guarantees, but it mandates that it deposit all income generated by the exploitation of natural resources by state and private enterprises throughout Ukrainian territory in a joint investment fund.
Svyrydenko stated that the forthcoming agreement would necessitate ratification by Ukraine’s parliament and was anticipated to stimulate economic growth in both nations.
