On Thursday, Ukraine announced the signing of a memorandum with the U.S. as a preliminary step towards an agreement for developing Ukrainian mineral resources, an initiative championed by President Donald Trump. Trump indicated that the actual accord could be finalized next week. Yulia Svyrydenko, Ukraine’s first deputy prime minister and economy minister, shared the news on social media, expressing satisfaction with the signing, which sets the stage for an Economic Partnership Agreement and the formation of an Investment Fund for Ukraine’s reconstruction.
A Ukrainian delegation visited Washington last week for discussions after the Trump administration proposed a broader deal. The earlier framework agreement was never finalized. Trump communicated with reporters at the White House, affirming, “We have a minerals deal, which I guess is going to be signed on Thursday.”
The deal is intended to grant the U.S. privileged access to Ukraine’s natural and critical mineral resources, framed by Trump as a form of reimbursement for military aid provided under former President Joe Biden. During a meeting in the Oval Office, U.S. Treasury Secretary Scott Bessent noted that they were still finalizing details, aiming for a signing by next Friday. He described the agreement as an extensive 80-page document, building on prior agreements.
President Volodymyr Zelenskiy also mentioned the possibility of signing the memorandum online later that day, underscoring the collaborative efforts between the two countries. The White House has yet to provide additional information regarding the agreement’s specifics and timing.
This memorandum of intent signifies the constructive intentions between Ukraine and the U.S., stated President Zelenskiy in Kyiv. He revealed that the U.S. proposed signing the memorandum prior to finalizing a comprehensive deal that would need approval from the Ukrainian parliament. Yulia Svyrydenko, Ukraine’s first deputy prime minister and economy minister, announced via social media that the signing marked an initial step towards a comprehensive agreement aimed at developing Ukraine’s mineral resources, a deal supported by former U.S. President Donald Trump. Trump mentioned that the formal agreement could be completed as soon as next week.
Following a recent Ukrainian delegation’s visit to Washington aimed at discussions stemming from a broader proposal by the Trump administration, Svyrydenko emphasized the significance of this memorandum in paving the way for an Economic Partnership Agreement and establishing an Investment Fund for Ukraine’s Reconstruction. While a prior framework agreement was not completed, Trump also referenced the forthcoming minerals deal, indicating that discussions were ongoing. U.S. Treasury Secretary Scott Bessent mentioned there is an 80-page document outlining the agreement based on prior negotiations. Zelenskiy hinted at the potential for signing the memorandum online, reiterating the positive and constructive nature of the intentions behind the initiative. Svyrydenko confirmed that considerable advancements had been achieved during negotiations, marking a promising development in U.S.-Ukrainian relations.
