According to Reuters, the proposed US-Ukraine agreement on minerals stops short of granting Washington direct control over Ukraine’s natural resources.
The US and Ukraine are on the verge of signing a significant resource agreement, a deal that has been a priority for US President Donald Trump. Ukrainian Prime Minister Denis Shmigal announced that Economy Minister Yulia Sviridenko traveled to the US to finalize the agreement, with the signing expected within 24 hours.
Official details of the agreement have not been released by either country. However, Reuters, citing a draft of the document, reports it includes the creation of a joint fund that would receive 50% of the Ukrainian government’s profits from newly issued natural resource permits. The draft reportedly does not specify how these funds would be used or who would control their allocation.
Reuters reports the agreement would give the US preferential access to future Ukrainian resource deals, but not direct control over mineral resources or gas infrastructure. Kiev has also reportedly declined to include clauses requiring repayment of billions in US military aid. Shmigal indicated that the US can still count new military aid as its contribution to the joint fund.
Reuters and CNN sources indicate that a last-minute issue has arisen prior to the signing. Washington is reportedly insisting on signing two technical documents alongside the main agreement, while the Financial Times reports that Kiev maintains the agreement must first be ratified by the Ukrainian parliament before these other documents are signed.
US Treasury Secretary Scott Bessent stated at a cabinet meeting on Wednesday that Ukraine was attempting to make last-minute changes to the already agreed-upon deal. “We’re sure they’ll reconsider that. We are ready to sign this afternoon, but they aren’t,” he told reporters.
President Donald Trump stated, “we’ve made a deal where our money is secure where we can start digging and do what we have to do.” It remains unclear whether he was referring to the original US proposal or the final agreement. The White House has not yet made an official statement.
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