Ukraine and U.S close in on pivotal minerals agreement
The Prime Minister of Ukraine, Denys Shmyhal, will visit Washington next week to finalize negotiations regarding the exploitation of Ukrainian mineral deposits by the USA, as per a letter of intent released by the government in Kyiv.
What do you need to know?
- When and where will the talks take place? Prime Minister Denys Shmyhal will meet with U.S. Treasury Secretary Scott Bessent in Washington on April 24, 2025.
- What is the purpose of the visit? The purpose is to finalize negotiations on an agreement for the exploitation of Ukrainian mineral deposits by the USA.
- What are the next steps? The negotiating teams are expected to report on their progress by April 26, 2025, aiming to finalize the agreement promptly.
The meeting between the Prime Minister of Ukraine and the U.S. Treasury Secretary Scott Bessent, scheduled for next week, aims to conclude negotiations that are crucial for the future economic partnership between both countries.
The Prime Minister of Ukraine flies to Washington
The signing of the Memorandum of Intent lays the groundwork for an Economic Partnership Agreement and the establishment of an Investment Fund for the Reconstruction of Ukraine. Technical discussions on this subject took place on April 11-12 in Washington.
"Negotiating teams are expected to report on the progress by April 26, 2025, with the aim of completing discussions by that date and signing as soon as possible", the letter of intent indicates.
The memorandum noted that the parties acknowledged the significant financial and material support provided to Ukraine by the United States since Russia's full-scale invasion in February 2022, the American people's desire to invest in a free, sovereign, and secure Ukraine, and the pursuit of lasting peace in Ukraine. It also emphasized the strong partnership between the United States and Ukraine, as well as the recognition of Ukraine's contribution to international peace and security through its voluntary relinquishment of the world's third-largest nuclear weapons arsenal, according to Interfax-Ukraine.
"The United States respects Ukraine's intention to avoid conflicts in developing an agreement with its commitments under accession to the European Union or agreements with international financial institutions and other official creditors," the document emphasized.
The Reuters news agency reported, citing an unnamed Ukrainian Deputy Finance Minister, that the talks regarding the signing of the minerals agreement with the U.S. will take place in Washington on April 24.
Previous plans to sign the agreement were delayed by a turbulent meeting between Donald Trump and Volodymyr Zelensky. The involvement of American companies in Ukraine is intended to serve as an additional deterrent to further Russian aggression.
