Ukraine and U.S. Near Minerals Deal Amid Progress in Bilateral Talks

Ukraine and the United States are nearing the signing of a memorandum of understanding (MoU) on a minerals agreement, signaling substantial progress in bilateral talks, according to Ukraine’s First Deputy Prime Minister Yulia Svyrydenko. The deal is part of U.S. President Donald Trump’s broader strategy to recover costs from military aid to Ukraine while boosting economic cooperation.

Svyrydenko stated that both countries' technical and legal teams have worked diligently on the draft agreement and have made significant adjustments. A memorandum, intended as the first phase, is expected to be signed shortly, laying the groundwork for a more comprehensive deal.

Deputy Economy Minister Taras Kachka confirmed the progress, indicating that although a final agreement will not be signed this week, negotiations are moving forward. He emphasized that U.S.-proposed concepts still require detailed development before a final document can be completed.

According to Bloomberg, the U.S. has revised its estimate of aid to Ukraine since the Russian invasion in 2022, lowering the figure from $300 billion to $100 billion. The proposed minerals deal, introduced last month by the Trump administration, outlines a joint investment fund where Ukraine would channel income from state and private resource exploitation. However, the deal does not include future security guarantees for Ukraine.

Svyrydenko noted that the agreement must be ratified by Ukraine's parliament but would ultimately foster investment, development, and economic growth in both nations. She highlighted the strategic value of the deal in promoting long-term economic collaboration, especially in the natural resources sector, which could be crucial to Ukraine’s post-war recovery and to strengthening U.S.-Ukraine relations.