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Details revealed on US-Ukraine minerals deal
(MENAFN) The United States and Ukraine are on the verge of finalizing a significant agreement involving Ukraine’s mineral resources—a deal that President Donald Trump has been advocating for months. Ukrainian Economy Minister Yulia Sviridenko has traveled to the U.S. to finalize the arrangement, with Prime Minister Denis Shmigal stating on Wednesday that the signing is expected within 24 hours.
While the official terms have not been publicly disclosed, Reuters claims to have reviewed a draft of the agreement. The deal reportedly involves the creation of a joint investment fund that would receive 50% of profits generated from new natural resource permits issued in Ukraine. However, the draft does not clarify how the funds will be used or who will manage the spending.
According to Reuters, the agreement would give the U.S. preferential access to future Ukrainian resource projects without granting direct control over Ukraine's minerals or energy infrastructure. Ukraine has also declined to include any provisions requiring it to reimburse the U.S. for military assistance provided thus far. However, new military aid can still count as America’s contribution to the joint fund, according to Shmigal.
Despite progress, last-minute disagreements have emerged. U.S. officials want two technical documents signed alongside the main agreement. Ukraine, however, insists the primary deal must first be ratified by its parliament before moving forward with the additional documents, the Financial Times reports.
Speaking on Wednesday, U.S. Treasury Secretary Scott Bessent said Ukraine had attempted to alter the deal at the final stage. “We’re confident they’ll reconsider. We’re ready to sign this afternoon, but they’re not,” he told reporters.
While the official terms have not been publicly disclosed, Reuters claims to have reviewed a draft of the agreement. The deal reportedly involves the creation of a joint investment fund that would receive 50% of profits generated from new natural resource permits issued in Ukraine. However, the draft does not clarify how the funds will be used or who will manage the spending.
According to Reuters, the agreement would give the U.S. preferential access to future Ukrainian resource projects without granting direct control over Ukraine's minerals or energy infrastructure. Ukraine has also declined to include any provisions requiring it to reimburse the U.S. for military assistance provided thus far. However, new military aid can still count as America’s contribution to the joint fund, according to Shmigal.
Despite progress, last-minute disagreements have emerged. U.S. officials want two technical documents signed alongside the main agreement. Ukraine, however, insists the primary deal must first be ratified by its parliament before moving forward with the additional documents, the Financial Times reports.
Speaking on Wednesday, U.S. Treasury Secretary Scott Bessent said Ukraine had attempted to alter the deal at the final stage. “We’re confident they’ll reconsider. We’re ready to sign this afternoon, but they’re not,” he told reporters.
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