United States mineral agreement anticipated for signing on Wednesday, according to senior Ukrainian official
Sparking Progress: U.S.-Ukraine Minerals Deal on Horizon
New developments are brewing as Ukraine anticipates signing a minerals agreement with the United States on Wednesday, according to an insider from the Ukrainian presidency, speaking to the Associated Press.
This agreement aims for joint ventures in pioneering Ukraine's mineral resources, an endeavor praised by U.S. President Donald Trump as a way to recoup the financial assistance provided during conflict times.
Restructured negotiations were slated to commence weeks ago; however, a spat between Trump and Ukrainian counterpart Volodymyr Zelensky in the White House momentarily halted talks.
Economy Minister Yulia Svyrydenko is gearing up to travel to Washington to sign the deal, pending final approval from the Ukrainian government on the draft accord.
Meanwhile, Ukrainian territory has been targeted once again, as Russian drones attacked Kharkiv and Dnipro, resulting in one fatality and 46 injuries.
The deal outlines a 50/50 shared investment plan between Ukraine and the U.S., with no ties to past aids received by Ukraine, according to the source. Proceeds from U.S. military aid could be counted as contributions to the fund, although specifics are yet to be clarified.
An investment fund would be established to cover reconstruction expenses, with contributions to be made by both nations. However, details on the fund's management remain unsettled, with both parties crafting supporting documents.
Unfortunately, no specific security guarantees have been mentioned in the agreement. While the agreement does not offer explicit security assurances, U.S. Treasury Secretary Scott Bessent has emphasized its potential to bolster economic ties and serve as a deterrent to Russia's aggression.
Ukraine, on the other hand, insists on procuring concrete military and security guarantees as part of any deal to bring an end to Russia's three-year invasion.
The official did not comment on any security guarantees the deal may include. The looming agreement, however, has U.S. officials optimistic as bolstering American business interests in Ukraine could deter Russia from future hostilities in the event of a ceasefire.
- The minerals agreement between Ukraine and the U.S. includes a 50/50 shared investment plan, with no ties to past aid received by Ukraine.
- Proceeds from U.S. military aid could potentially be counted as contributions to the investment fund, though specifics are yet to be clarified.
- An investment fund would be established to cover reconstruction expenses, with contributions to be made by both nations.
- The agreement does not offer explicit security assurances, yet U.S. Treasury Secretary Scott Bessent has emphasized its potential to bolster economic ties and serve as a deterrent to Russia's aggression.
