On Friday, Ukrainian Governments announced the successful conclusion of a minerals agreement with the United States (US), marking a significant step toward deepening economic cooperation between the two nations amid ongoing post-war recovery efforts.
While the full details of the agreement were yet to be released, reports indicate that the White House has linked the deal to broader financial arrangements, including a push for Ukraine to eventually repay the costs of prior U.S. military assistance.
Ukraine’s First Deputy Prime Minister, Yuliia Svyrydenko, confirmed late Thursday that a memorandum outlining the framework of the deal had been finalized.
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She suggested the agreement could pave the way for the creation of an investment fund dedicated to Ukraine’s reconstruction following the devastation of Russia’s 2022 invasion.
“We are happy to announce the signing with our American partners,” Svyrydenko said.
Speaking separately to reporters at the White House, former President Donald Trump indicated that the formal signing of the agreement could take place as early as next Thursday.
U.S. Treasury Secretary Scott Bessent also commented on the progress of the negotiations, noting that while some technical details are still under discussion, the core terms have been settled. “We’re still working on the details,” Bessent told reporters, adding that the current draft spans 80 pages and reflects “substantially what we’d agreed on previously. That’s what we will be signing,” he said.
According to excerpts from the latest draft, cited by journalists, Ukraine formally acknowledges the “significant material and financial support” it has received from the United States since the outbreak of Russia’s full-scale invasion and highlights a shared commitment to achieving “lasting peace.”
The draft further reveals that Ukraine’s Prime Minister, Denys Shmyhal, is scheduled to travel to Washington next week for final “technical talks” with Secretary Bessent, with both sides expected to finalize arrangements for the proposed “reconstruction investment fund.”
Ukraine’s Deputy Minister of Economy has confirmed that the deal will require ratification by the Ukrainian Parliament before it can fully enter into force.
