US and Ukraine expected to sign minerals deal
Unlock the White House Watch newsletter for free
Your guide to what Trump’s second term means for Washington, business and the world
The US and Ukraine are expected to sign a framework minerals agreement on Wednesday, following a breakthrough in months-long, contentious negotiations.
The deal, seen by the Financial Times, states the US and Ukraine, through the development of Kyiv’s natural resources and the creation of a joint investment fund, will “seek to create the conditions necessary to, among other objectives, increase investment in mining, energy, and related technology in Ukraine”.
It comes after Kyiv secured a significant concession from the Trump administration that only future military aid will count as the US contribution to the deal.
Ukraine’s first deputy prime minister, Yulia Svyrydenko, has flown to Washington to sign the deal with US Treasury secretary Scott Bessent, according to three senior Ukrainian officials.
“We think that the teams have done good work and the deal is much better for both countries,” said one of the Ukrainian officials familiar with the matter.
The development would mark a major step forward in the rocky relationship between Washington and Kyiv after a signing ceremony for an earlier version of the deal was cancelled in February following a public argument in the Oval Office between Presidents Donald Trump and Volodymyr Zelenskyy.
After that clash, Trump had insisted that billions of dollars in past US military assistance be treated as loans to be repaid through the agreement, a proposal Zelenskyy rejected at the time.
Trump’s team of negotiators sent to Ukraine have since sent a new proposal stating that the US contribution to the deal would be for past military aid to Kyiv only.
This is a developing story
