Ukrainian First Deputy Prime Minister Yulia Svyridenko stated on Wednesday that significant headway has been achieved during discussions between Ukraine and the United States regarding a mineral agreement, with plans to finalize and sign a memorandum shortly.
President Donald Trump of the United States is pursuing a bilateral minerals agreement as part of his efforts to bring an end to Ukraine’s conflict with the Russian assault.
The US president views this agreement as an opportunity to recoup the billions of dollars that have been expended by the US on military aid to Ukraine.
Ukrainian President Volodymyr Zelenskyy stated that Ukraine will not consider previous U.S. military assistance as loans.
“Our technical teams have collaborated extensively on this agreement, achieving substantial progress. Our legal team has revised multiple sections of the draft,” Svyrydenko stated on X.
She added that the work on the deal would continue and that both sides agreed to sign a memorandum in the near term as the first stage to record the progress.
In the meantime, the U.S. has lowered its estimated cost of aid to Ukraine following Russia’s invasion in 2022 to approximately $100 billion from $300 billion.
Remember that last month, the Trump administration suggested a revised and broader mining agreement. This proposal offers Ukraine no long-term safety assurances but demands that the country contribute all revenue generated from the extraction of natural resources by both public and private companies within its borders into a shared investment pool.
Svyrydenko, without offering further specifics, mentioned that the upcoming accord would necessitate approval from Ukraine’s parliament and was anticipated to foster economic expansion in both nations involved.
She stated that this initiative would generate investment and developmental prospects in Ukraine, while also setting up circumstances conducive to significant economic expansion for both Ukraine and the United States.
Ukraine and the U.S. reach significant agreement on mineral resources deal – Kyiv
