Details on the US-Ukraine Minerals Agreement: Current Understanding
The agreement does not grant Washington control over Ukraine’s resources, as reported by Reuters. Washington and Kiev are on the brink of signing a significant resource agreement, which has been a priority for US President Donald Trump for...
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The agreement does not grant Washington control over Ukraine’s resources, as reported by Reuters.
Washington and Kiev are on the brink of signing a significant resource agreement, which has been a priority for US President Donald Trump for several months. Ukrainian Economy Minister Yulia Sviridenko has traveled to the US to finalize the deal, with Prime Minister Denis Shmigal stating on Wednesday that the document was expected to be signed within 24 hours.
The specifics of the agreement have not been officially disclosed by either the US or Ukraine. However, Reuters, which claims to have seen the draft, reports that the deal would establish a joint fund that would receive half of the profits generated by any new natural resource permits issued by the Ukrainian government. The draft document allegedly does not clarify how the funds will be utilized or who will make spending decisions.
According to Reuters, the agreement would grant the US preferential access to new Ukrainian resource contracts but would not provide direct control over Ukraine's mineral resources or gas infrastructure. Additionally, Kiev reportedly rejected including any stipulations requiring it to reimburse the US for billions spent on military assistance. Shmigal noted that America can still consider any new military aid as part of its contribution to the joint fund.
Both Reuters and CNN have reported that there is a last-minute complication ahead of the signing of the accord. Washington is reportedly pushing for the signing of two technical documents that outline specific provisions alongside the agreement, while Kiev insists that the Ukrainian parliament must ratify the agreement before any other documents can be signed, according to the Financial Times.
US Treasury Secretary Scott Bessent commented during a cabinet meeting on Wednesday that Ukraine was seeking to make last-minute adjustments to the previously agreed-upon deal. “We’re sure they’ll reconsider that. We are ready to sign this afternoon, but they aren’t,” he told reporters.
President Donald Trump remarked, “we’ve made a deal where our money is secure where we can start digging and do what we have to do.” It remains unclear whether he was alluding to the initial US proposal or the final agreement, as the White House has yet to issue any official statement.
Mark B Thomas for TROIB News
Washington and Kiev are on the brink of signing a significant resource agreement, which has been a priority for US President Donald Trump for several months. Ukrainian Economy Minister Yulia Sviridenko has traveled to the US to finalize the deal, with Prime Minister Denis Shmigal stating on Wednesday that the document was expected to be signed within 24 hours.
The specifics of the agreement have not been officially disclosed by either the US or Ukraine. However, Reuters, which claims to have seen the draft, reports that the deal would establish a joint fund that would receive half of the profits generated by any new natural resource permits issued by the Ukrainian government. The draft document allegedly does not clarify how the funds will be utilized or who will make spending decisions.
According to Reuters, the agreement would grant the US preferential access to new Ukrainian resource contracts but would not provide direct control over Ukraine's mineral resources or gas infrastructure. Additionally, Kiev reportedly rejected including any stipulations requiring it to reimburse the US for billions spent on military assistance. Shmigal noted that America can still consider any new military aid as part of its contribution to the joint fund.
Both Reuters and CNN have reported that there is a last-minute complication ahead of the signing of the accord. Washington is reportedly pushing for the signing of two technical documents that outline specific provisions alongside the agreement, while Kiev insists that the Ukrainian parliament must ratify the agreement before any other documents can be signed, according to the Financial Times.
US Treasury Secretary Scott Bessent commented during a cabinet meeting on Wednesday that Ukraine was seeking to make last-minute adjustments to the previously agreed-upon deal. “We’re sure they’ll reconsider that. We are ready to sign this afternoon, but they aren’t,” he told reporters.
President Donald Trump remarked, “we’ve made a deal where our money is secure where we can start digging and do what we have to do.” It remains unclear whether he was alluding to the initial US proposal or the final agreement, as the White House has yet to issue any official statement.
Mark B Thomas for TROIB News
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