Ukraine releases memorandum on minerals agreement with US

(MENAFN) Ukraine has published a memorandum of intent to finalize an agreement with the United States that would grant access to the country’s natural resources. The two nations have been negotiating this "minerals deal" since February, with the Trump administration viewing it as a way to recover the financial aid provided to Ukraine in its ongoing conflict with Russia. Ukraine maintains that the US assistance was unconditional.

The memorandum, signed on Thursday, outlines plans for the creation of a reconstruction investment fund, highlighting the substantial financial and material support the US has extended to Ukraine since 2022. Both countries emphasized their commitment to completing the necessary documents swiftly.

Next week, Ukrainian Prime Minister Denis Shmigal is expected to visit Washington to meet with US Treasury Secretary Scott Bessent and finalize the technical discussions. The deal is expected to be signed shortly after the negotiations conclude, with an anticipated completion date of April 26.

Deputy Prime Minister Yulia Sviridenko expressed optimism, noting the progress made and the potential benefits for both nations. Despite previous setbacks in March due to a tense meeting between Ukrainian President Zelensky, Trump, and Vice President J.D. Vance, the latest version of the agreement appears close to finalization.

However, the deal is reportedly more stringent than earlier drafts. Trump has warned Zelensky against backing out of the minerals deal, threatening significant consequences if the agreement is not honored.

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