Ukraine and US poised to seal groundbreaking mineral deal
Ukrainian Prime Minister Denys Shmyhal stated on Wednesday that a Ukrainian-American agreement on mineral resources could be signed within the next 24 hours.
"Today, First Deputy Prime Minister Yulia Svyrydenko is on her way to Washington. We are already finalizing the final details with our American colleagues," Prime Minister Denys Shmyhal declared on Ukrainian television. "As soon as all the details are finalized, in the near future, I hope in the next 24 hours, the agreement will be signed and we will receive the first step," he added.
Earlier, Bloomberg reported that the mineral agreement between the United States and Ukraine could be signed as early as Wednesday.
Reuters also reported that the agreement might be signed on Wednesday, citing a source in the Ukrainian government. I think the deal could be signed late in the evening Kyiv time, the source said.
According to Bloomberg's source, the draft agreement provides for the creation of a joint Ukrainian-American fund to manage investment projects in Ukraine. As part of the agreement, both parties aim to create conditions to increase investment in mining, energy, and related technologies in Ukraine.
In addition, Washington has agreed that only the military aid it provides to Kyiv after the agreement is signed will be counted as the US contribution within the fund. Bloomberg recalled the words of Ukrainian Prime Minister Denys Shmyhal, who said on Sunday that the US had waived previous demands to include tens of billions of dollars in aid provided to Ukraine since the beginning of Russia's invasion in the agreement.
The agreement "strengthens the strategic partnership between the Parties for the long-term reconstruction and modernization of Ukraine, in response to the large-scale destruction caused by Russia’s full-scale invasion," according to the document obtained by Bloomberg.
A source cited by Bloomberg stated that two other technical agreements that will define how the joint fund operates have not yet been finalized.
At the beginning of April, US and Ukrainian representatives signed a letter of intent and worked on determining the technical details of the agreement regarding Ukrainian mineral resources.
Previous attempts to reach an agreement failed due to a public argument on February 28 at the White House, involving Ukrainian President Volodymyr Zelensky, US President Donald Trump, and Vice President Mike Pence. The next meeting between the leaders of Ukraine and the US, this time a one-on-one, took place on Saturday in the Vatican before the funeral of Pope Francis.
