United States and Ukraine finalize economic cooperation following Trump's encouragement, as he prodded Ukraine to reimburse Washington for aiding in Kyiv's defense against Russia's invasion
Rewritten Article:
WASHINGTON D.C. - In a significant turn of events, the U.S. and Ukraine have sewn up a joint deal that promises to open up Ukraine's valuable mineral reserves and other resources to America, marking an agreement reached after weeks of grueling negotiations to compensate the U.S. for its aid in warding off Russia's aggression.
The newly minted partnership is christened the United States-Ukraine Reinvestment Fund. This deal is expect to grant the U.S. access to Ukraine's coveted rare earth minerals, providing Ukraine with some much-needed assurance regarding American support in its ongoing war with Russia.
Treasury Secretary, Scott Bessent, heralded the agreement as a strong signal to Russia that the Trump administration is dedicated to a lasting peace process that fosters a Ukraine which is free, sovereign, and prosperous in the long run. He further stated that the deal represents President Trump's vision of a partnership between the American and Ukrainian people, symbolizing mutual commitment to achieving lasting peace and prosperity in Ukraine.
The signing of this agreement coincides with a critical juncture in the three-year war, as President Trump has expressed growing discontent with both Russia and Ukraine. The deal was inked just two months after a similar agreement was on the brink of being finalised but was ultimately stalled during a heated meeting in the Oval Office involving President Trump, Vice President JD Vance, and Ukrainian President Volodymyr Zelenskyy.
President Trump has persistently slammed Zelenskyy, questioning his capability to win the war and placing the blame on him for prolonging the conflict by not relinquishing Crimea. However, in recent days, he has also rebuked Russian President Vladimir Putin for complicating negotiations by launching deadly attacks on Kyiv with "very bad timing."
Speaking to NewsNation, Trump voiced his opinion that the deal would ensure that the U.S. receives more from Ukraine than it has contributed. He explained that he aimed to protect the U.S. from appearing foolish by not recouping funds for its investments.
Ukraine hails the signing as a `fair and advantageous international deal'
Ukraine views the agreement as essential for ensuring future access to American military aid and economic investment. Prime Minister Denys Shmyhal applauded the deal as a fair and advantageous international deal' for both countries.
Ukraine's Economy Minister, Yulia Svyrydenko, flew to Washington to oversee the finalisation of the deal. In a post on Twitter after the signing, she declared that by collaborating with the United States, the Fund would draw global investment into Ukraine.
White House harbored doubts over the readiness of the agreement
Despite Ukrainian officials indicating that a deal was nearly finalised earlier in the day, Treasury Secretary Scott Bessent expressed reservations during a White House Cabinet meeting, stating that there was still work to be done. He refused to elaborate on the last-minute changes he claimed Ukraine had made.
The U.S. has been keen on gaining access to over 20 critical raw materials in Ukraine, including titanium, uranium, lithium, graphite, manganese, oil, and natural gas. These materials are integral to various sectors, including aerospace, nuclear power, medical equipment, electric vehicles, and weapons manufacturing.
Feeling that the initial American draft of the deal unjustly favoured the U.S., Ukraine introduced new provisions to better address its concerns. As per Prime Minister Shmyhal, the latest version of the agreement would establish a truly equal partnership between the two countries, lasting for a decade. Both countries would contribute financially to a joint fund, with only new U.S. military aid considered as part of the American share. Assistance dispensed prior to the agreement would not be included. Unlike the earlier draft, this deal would not hinder Ukraine's path towards European Union membership - a priority for Kyiv.
The Ukrainian Cabinet approved the agreement, empowering Minister Svyrydenko to sign it in Washington. Upon ratification by the Ukrainian Parliament, the deal can be enacted.
Putin demands answers before agreeing to a ceasefire
The negotiations come amid fragile progress in Washington's attempts to end the war. Kremlin spokesman Dmitry Peskov indicated that while Putin supports the idea of a ceasefire, several questions and nuances need to be resolved first before a peace talks can commence. According to Peskov, Putin is willing to engage in direct discussions with Ukraine without preconditions to seek a peace agreement.
Trump has expressed disappointments over the slow pace of progress in peace negotiations, with Western European leaders accusing Putin of procrastinating while his forces advance in Ukrainian territory. Russia has captured approximately one fifth of Ukraine's territories since launching a full-scale invasion in 2022.
Trump has consistently berated Zelenskyy for failing to win the war, blaming him for the unnecessary loss of life and American taxpayer money. This could signal a potential end to crucial military assistance for Ukraine and harsher economic sanctions on Russia.
U.S. Pushes for Swifter Action from Both Parties
The U.S. State Department has appealed to both sides to accelerate their efforts, warning that the U.S. may withdraw from negotiations if there's no significant progress. Russia has rejected a U.S. proposal for an immediate, full 30-day ceasefire, attaching conditions such as a halt to Ukraine's military mobilisation and the cessation of Western arms supplies to Kyiv.
Russian Foreign Minister Sergey Lavrov claimed that Ukraine had accepted an unconditional truce only due to mounting pressure on the battlefield, where the heavier Russian forces hold the advantage.
Meanwhile, civilian casualties in Ukraine have risen, with an average of five deaths and 12 injuries reported daily this year, according to a United Nations report. These casualties include a nighttime Russian drone attack on Ukraine's second-largest city, Kharkiv, which wounded at least 45 civilians, and a series of Ukrainian drone strikes on the Murom Instrument Engineering Plant in Russia's Vladimir region, causing five explosions and a fire at the military facility. Although the latter claim cannot be independently confirmed.
Kullab and Arhirova reported from Kyiv, Ukraine. Associated Press writer Fatima Hussein in Washington contributed to this report.
- The newly created United States-Ukraine Reinvestment Fund, a fair and advantageous international deal, is seen by Ukraine as crucial for securing future access to American military aid and economic investment.
- Ukraine's Economy Minister, Yulia Svyrydenko, emphasized that by collaborating with the United States, the Fund would attract global investment into Ukraine.
- The U.S. is keen on acquiring access to over 20 critical raw materials in Ukraine, including graphite, which are integral to various sectors like electric vehicles and weapons manufacturing.
- Russia, in response to the continued negotiations, has demanded answers before agreeing to a ceasefire, with Kremlin spokesman Dmitry Peskov highlighting that several questions and nuances need to be resolved first.
- As both parties struggle to make substantial progress in peace negotiations, the U.S. State Department has urged both sides to expedite their actions, warning of potential withdrawal from negotiations if there is no significant advancement.
