Bloomberg: Imminent US-Ukraine Resource Deal
Ukraine is poised to sign a long-awaited minerals agreement with the United States, potentially as soon as Wednesday, according to Bloomberg sources. This deal, which includes a joint fund aimed at developing the country's resources, has been...
TroibNews 
Ukraine is poised to sign a long-awaited minerals agreement with the United States, potentially as soon as Wednesday, according to Bloomberg sources. This deal, which includes a joint fund aimed at developing the country's resources, has been a point of contention between Kiev and Washington for several months.
Ukrainian Prime Minister Denis Shmigal confirmed that the two sides expect to finalize the deal within a day, noting that Kiev would allocate half of the proceeds from resource extraction to the joint US-Ukraine fund.
Efforts to finalize the agreement, which grants the US access to Ukraine's rare earth and mineral deposits, have been ongoing since February. The administration of former President Donald Trump has framed the deal as a way to recoup funds that the US has spent supporting Ukraine during its conflict with Russia. In contrast, Ukrainian officials have maintained that all US support has been provided without conditions.
Sources familiar with the negotiations told Bloomberg that both parties have completed a draft agreement, with Ukrainian Economy Minister Yulia Sviridenko reportedly heading to Washington for the signing.
The agreement is set to establish a joint fund for managing investment projects in Ukraine and seeks to bolster cooperation in mining, energy, and related technologies. Additionally, a draft of the deal indicates that Washington recognizes Ukraine’s aspirations for European Union integration and has agreed that the agreement will not interfere with those goals.
Reports suggest that the US has also consented to count only future military aid to Kiev as part of its contribution to the investment fund, having previously insisted that prior military assistance be included.
This progress follows Sviridenko's signing of a preliminary memorandum on the resource deal earlier this month. Nonetheless, Trump later criticized Ukraine's leadership for the deal's slow advancement, calling for it to be signed “immediately.”
The signing of this deal was anticipated to occur in late February during President Volodymyr Zelensky’s visit to the White House. However, that visit became contentious when Zelensky and Trump engaged in a public dispute, with Trump accusing Zelensky of “gambling with World War III” and expressing reluctance to pursue a ceasefire with Russia.
Debra A Smith for TROIB News
Ukrainian Prime Minister Denis Shmigal confirmed that the two sides expect to finalize the deal within a day, noting that Kiev would allocate half of the proceeds from resource extraction to the joint US-Ukraine fund.
Efforts to finalize the agreement, which grants the US access to Ukraine's rare earth and mineral deposits, have been ongoing since February. The administration of former President Donald Trump has framed the deal as a way to recoup funds that the US has spent supporting Ukraine during its conflict with Russia. In contrast, Ukrainian officials have maintained that all US support has been provided without conditions.
Sources familiar with the negotiations told Bloomberg that both parties have completed a draft agreement, with Ukrainian Economy Minister Yulia Sviridenko reportedly heading to Washington for the signing.
The agreement is set to establish a joint fund for managing investment projects in Ukraine and seeks to bolster cooperation in mining, energy, and related technologies. Additionally, a draft of the deal indicates that Washington recognizes Ukraine’s aspirations for European Union integration and has agreed that the agreement will not interfere with those goals.
Reports suggest that the US has also consented to count only future military aid to Kiev as part of its contribution to the investment fund, having previously insisted that prior military assistance be included.
This progress follows Sviridenko's signing of a preliminary memorandum on the resource deal earlier this month. Nonetheless, Trump later criticized Ukraine's leadership for the deal's slow advancement, calling for it to be signed “immediately.”
The signing of this deal was anticipated to occur in late February during President Volodymyr Zelensky’s visit to the White House. However, that visit became contentious when Zelensky and Trump engaged in a public dispute, with Trump accusing Zelensky of “gambling with World War III” and expressing reluctance to pursue a ceasefire with Russia.
Debra A Smith for TROIB News
Find more stories on Business, Economy and Finance in TROIB business
