Ukraine retracted from agreement on resources, says US Treasury
Kiev's team made unexpected changes to a minerals agreement right before the anticipated signing with Washington, according to US Treasury Secretary Scott Bessent. The US and Ukraine have been engaged in tense discussions regarding the deal...
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Kiev's team made unexpected changes to a minerals agreement right before the anticipated signing with Washington, according to US Treasury Secretary Scott Bessent.
The US and Ukraine have been engaged in tense discussions regarding the deal for several months. President Donald Trump has promoted the agreement as a means for the US to recover what he estimates to be around $350 billion invested in supporting Kiev amid the ongoing conflict, by jointly exploiting its mineral resources in the future.
Bessent stated during a Wednesday press conference at the Oval Office that last-minute alterations to the agreement were made just as they were set to finalize the deal. "Our side’s ready to sign. The Ukrainians decided last night to make some last-minute changes," he shared with reporters.
He expressed optimism for the deal's completion, saying, "We’re assured that they will reconsider that," and he hoped the signing would occur later that afternoon.
A Ukrainian delegation headed by Economy Minister Yulia Sviridenko traveled to the US after securing a clause that would limit Washington's contributions to only future military aid rather than the total aid already extended, as reported by the Financial Times on Wednesday.
The agreement, which was partially disclosed, indicates that the US and Ukraine would collaborate on investments in Ukrainian mining, energy, and related technology sectors through a joint investment fund and by tapping into the nation's mineral wealth.
According to anonymous Ukrainian officials cited by FT, Sviridenko was instructed to "be ready to sign all agreements, or go back home."
The US is seeking Ukraine's signature on both a framework agreement and a detailed contract related to the investment fund to finalize the minerals deal, the publication noted.
However, Kiev's representatives declined to sign the agreements, as "the fund agreement must be ratified by their country’s parliament before it can be signed," according to FT's sources.
Trump has increasingly voiced criticism of Kiev and President Zelensky for the sluggish progress in finalizing the agreement. Notably, during a public exchange in the Oval Office in late February, moments before the deal was expected to be signed, Trump accused Zelensky of being ungrateful for US assistance and of "gambling with World War III" due to a lack of negotiations with Russia.
Thomas Evans for TROIB News
The US and Ukraine have been engaged in tense discussions regarding the deal for several months. President Donald Trump has promoted the agreement as a means for the US to recover what he estimates to be around $350 billion invested in supporting Kiev amid the ongoing conflict, by jointly exploiting its mineral resources in the future.
Bessent stated during a Wednesday press conference at the Oval Office that last-minute alterations to the agreement were made just as they were set to finalize the deal. "Our side’s ready to sign. The Ukrainians decided last night to make some last-minute changes," he shared with reporters.
He expressed optimism for the deal's completion, saying, "We’re assured that they will reconsider that," and he hoped the signing would occur later that afternoon.
A Ukrainian delegation headed by Economy Minister Yulia Sviridenko traveled to the US after securing a clause that would limit Washington's contributions to only future military aid rather than the total aid already extended, as reported by the Financial Times on Wednesday.
The agreement, which was partially disclosed, indicates that the US and Ukraine would collaborate on investments in Ukrainian mining, energy, and related technology sectors through a joint investment fund and by tapping into the nation's mineral wealth.
According to anonymous Ukrainian officials cited by FT, Sviridenko was instructed to "be ready to sign all agreements, or go back home."
The US is seeking Ukraine's signature on both a framework agreement and a detailed contract related to the investment fund to finalize the minerals deal, the publication noted.
However, Kiev's representatives declined to sign the agreements, as "the fund agreement must be ratified by their country’s parliament before it can be signed," according to FT's sources.
Trump has increasingly voiced criticism of Kiev and President Zelensky for the sluggish progress in finalizing the agreement. Notably, during a public exchange in the Oval Office in late February, moments before the deal was expected to be signed, Trump accused Zelensky of being ungrateful for US assistance and of "gambling with World War III" due to a lack of negotiations with Russia.
Thomas Evans for TROIB News
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