The United States and Ukraine appear to be on the verge of finalizing a deal concerning raw material supplies.
In a thrilling turn of events, the USA and Ukraine are poised to ink a long-demanded mineral agreement that's been under discussion for quite some time. As Prime Minister Denys Shmyhal stated on Ukrainian news television, once the minor details are sorted, the agreement will be signed within the next day, he hopes.
In Washington, US Treasury Secretary Scott Bessent revealed that the American side stands ready to sign the agreement today itself, as long as Kyiv is also on board. Reportedly, Deputy Prime Minister Julia Svyrydenko is en route to Washington. The media in both countries have previously reported on the impending signing, citing their sources.
The arduous road to an accord
The negotiations have been ongoing since February and were on the verge of collapse following a White House scandal involving Ukrainian President Volodymyr Zelenskyy and US President Donald Trump. The agreement seeks to provide the USA with privileged access to Ukrainian resources, including precious minerals like lithium, titanium, uranium, graphite, and manganese. These minerals are crucial for defense, aerospace, and green technologies.
Ukraine hopes to use the revenues generated from these resources to rebuild their war-torn country. Before the agreement can be enforced, the Ukrainian parliament must still ratify the document.
Trump stated that Ukraine is rich in rare earths, and the country would also benefit from an "American presence" in the extraction of these resources, as it keeps "bad actors" at bay. Ukraine has been fighting off a Russian invasion for more than three years now. Post Trump's inauguration, the USA is reluctant to support the country without reciprocity.
The potential mineral agreement could be a precursor for future US support in Ukraine's war against Russia. A sticking point in the negotiations is whether to sign the main mineral agreement and a related investment fund document simultaneously. The US insists on concurrent signing, while Ukraine prefers separate dates due to unresolved details in the fund agreement. Both nations express confidence in finalizing the deal soon.
The agreement was initially scheduled for signing in February 2025 but was delayed following diplomatic tensions between Trump and Zelenskyy.
- The USA and Ukraine are on the brink of finalizing a mineral agreement, set to bring privileged access to American industries in crucial minerals like lithium, titanium, uranium, graphite, and manganese.
- The negotiations, ongoing since February, aim to help Ukraine generate revenue to rebuild after years of war, with potential future US support against Russia being a possible implication.
- As the two nations express confidence in reaching an agreement soon, both the US and Ukraine remain divided on when to sign the main mineral agreement and the related investment fund document, with the US insisting on concurrent signing and Ukraine preferring separate dates.
- As the minor details in the signing process are outlined, the agreement, initially due in February 2025, was delayed due to diplomatic tensions between Trump and Zelenskyy, creating a complex timeline for negotiations.
- With Deputy Prime Minister Julia Svyrydenko on her way to Washington, US Treasury Secretary Scott Bessent has publicly stated that the US is ready to agree and sign the mineral agreement today, provided Ukraine shares that sentiment.
