On Thursday, Ukraine announced that it had finalized the foundational aspects of a minerals agreement with the United States, although specific details of the preliminary arrangement have not yet been disclosed.
Yulia Svyrydenko, Ukraine’s Minister of Economic Development and Trade, stated that both parties had signed a “memorandum of intent,” which serves as the groundwork for an agreement anticipated to facilitate the joint development of Ukraine’s natural resources by both nations.
“We are happy to announce the signing, with our American partners, of a Memorandum of Intent, which paves the way for an Economic Partnership Agreement and the establishment of the Investment Fund for the Reconstruction of Ukraine,” Svyrydenko shared on the social media platform X.
“There is a lot to do, but the current pace and significant progress give reason to expect that the document will be very beneficial for both countries,” she remarked.
Svyrydenko, who also serves as Ukraine’s deputy prime minister, did not provide additional details regarding the specifics of the preliminary agreement but shared images of herself alongside U.S. Treasury Secretary Scott Bessent, allegedly signing the document.
Earlier on Thursday, U.S. President Donald Trump and Bessent informed reporters that a comprehensive agreement is expected to be signed next week.
“Well, we have a minerals deal, which I guess is going to be signed on Thursday — next Thursday [24 April]? Soon. And I assume they’re [Ukraine] going to live up to the deal, so we’ll see. But we have a deal on that,” Trump stated during a press conference at the White House.
Bessent further mentioned, “we’re still working on the details. We’re shooting for around April 26th.”
When asked for additional information, the Treasury Secretary indicated that the deal largely reflects what had been previously agreed upon with Ukraine. “We went straight to the big deal, I think it’s an 80-page agreement, and that’s what will be signed.” he explained.
Since his inauguration in January, Trump has expressed a strong interest in establishing a minerals deal with Ukraine, asserting that an agreement to collaboratively develop and monetize Ukraine’s rare earth deposits, critical minerals, oil, gas, and other natural resources would serve as a form of compensation for U.S. assistance to Ukraine during the ongoing conflict with Russia.
Ukrainian President Volodymyr Zelenskyy also indicated on Thursday that a preliminary agreement has been established, stating to reporters, “This is a memorandum of intent, and we have positive, constructive intentions,”
He noted that the proposal to sign the memorandum prior to the comprehensive deal, which would need ratification by the Ukrainian parliament, originated from the U.S. side.
