US and Ukraine ink memorandum on mineral resource agreement
The US and Ukraine have taken a significant step towards a rare-earths deal by signing a preliminary outline, as confirmed by a senior official in Kiev. This potential agreement is seen by the US as a means to recoup financial aid extended...
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The US and Ukraine have taken a significant step towards a rare-earths deal by signing a preliminary outline, as confirmed by a senior official in Kiev. This potential agreement is seen by the US as a means to recoup financial aid extended to Ukraine amid its ongoing conflict with Moscow and could be finalized as soon as next week.
Yulia Sviridenko, Ukraine’s first deputy prime minister and minister of the economy, made the announcement on Friday. She stated, “We are happy to announce the signing, with our American partners, of a Memorandum of Intent, which paves the way for an Economic Partnership Agreement and the establishment of the Investment Fund for the Reconstruction of Ukraine.” However, Sviridenko did not provide specifics regarding the document or the sources for the fund.
Describing the agreement as the result of thorough negotiations, Sviridenko remarked, “We continue to work on the Agreement itself. There is a lot to do, but the current pace and significant progress give reason to expect that the document will be very beneficial for both countries.”
Meanwhile, President Donald Trump indicated that the final resource deal could be completed next week: “We have a minerals deal which I guess is going to be signed . . . next Thursday. And I assume they’re going to live up to the deal. So we’ll see. But we have a deal on that.”
For weeks, discussions have been underway between Washington and Kiev regarding a deal that would grant the US access to Ukraine’s rare-earth mineral deposits. The Trump administration has made it clear that they view the agreement as a means to recover funds for prior aid to Ukraine; however, Kiev asserts that the assistance was given unconditionally.
Recent reports from Bloomberg indicated that the US revised its assessment of assistance to Ukraine from over $300 billion down to approximately $100 billion, but it still regards this as a means to mitigate financial losses. Sources claim that the Trump administration has been hesitant to commit to future investments in the proposed joint fund, which remains a priority for Kiev.
The two sides were initially set to sign a deal at the end of February, with an event planned during a visit by Ukrainian President Volodymyr Zelensky to the White House. That occasion devolved into tension, with Trump accusing Zelensky of disrespecting the US and expressing dissatisfaction over his perceived lack of gratitude for American aid while also criticizing Zelensky's approach to seeking peace with Russia, suggesting he was “gambling with World War III.”
Frederick R Cook for TROIB News
Yulia Sviridenko, Ukraine’s first deputy prime minister and minister of the economy, made the announcement on Friday. She stated, “We are happy to announce the signing, with our American partners, of a Memorandum of Intent, which paves the way for an Economic Partnership Agreement and the establishment of the Investment Fund for the Reconstruction of Ukraine.” However, Sviridenko did not provide specifics regarding the document or the sources for the fund.
Describing the agreement as the result of thorough negotiations, Sviridenko remarked, “We continue to work on the Agreement itself. There is a lot to do, but the current pace and significant progress give reason to expect that the document will be very beneficial for both countries.”
Meanwhile, President Donald Trump indicated that the final resource deal could be completed next week: “We have a minerals deal which I guess is going to be signed . . . next Thursday. And I assume they’re going to live up to the deal. So we’ll see. But we have a deal on that.”
For weeks, discussions have been underway between Washington and Kiev regarding a deal that would grant the US access to Ukraine’s rare-earth mineral deposits. The Trump administration has made it clear that they view the agreement as a means to recover funds for prior aid to Ukraine; however, Kiev asserts that the assistance was given unconditionally.
Recent reports from Bloomberg indicated that the US revised its assessment of assistance to Ukraine from over $300 billion down to approximately $100 billion, but it still regards this as a means to mitigate financial losses. Sources claim that the Trump administration has been hesitant to commit to future investments in the proposed joint fund, which remains a priority for Kiev.
The two sides were initially set to sign a deal at the end of February, with an event planned during a visit by Ukrainian President Volodymyr Zelensky to the White House. That occasion devolved into tension, with Trump accusing Zelensky of disrespecting the US and expressing dissatisfaction over his perceived lack of gratitude for American aid while also criticizing Zelensky's approach to seeking peace with Russia, suggesting he was “gambling with World War III.”
Frederick R Cook for TROIB News
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