Ukraine expects to sign a much-anticipated minerals deal with the United States in "the next 24 hours," Prime Minister Denys Shmyhal said Wednesday, as both sides finalised details.
The agreement would see Washington and Kyiv jointly develop Ukraine's mineral resources, an arrangement U.S. President Donald Trump has called "money back" for the wartime aid Ukraine has received from the United States.
"This is truly a good, equal and beneficial international agreement on joint investments in the development and recovery of Ukraine," Shmyhal said on national TV.
"I hope that the agreement will be signed in the near future, within the next 24 hours, and we will take the first step," he added.
Kyiv and Washington planned to sign the agreement weeks ago, but a fiery clash between Trump and Ukrainian President Volodymyr Zelensky in the White House temporarily derailed talks.
Ukraine has been pushing for security guarantees as part of any deal to halt Russia's three-year invasion.
The United States argues that boosting American business interests in Ukraine will help deter Russia from future aggression in the event of a ceasefire.
A senior source in the Ukrainian presidency did not reply to a question about whether the deal included any security guarantees for Ukraine.
But the deal will not be linked to any "debts" for previous assistance Kyiv has received, and will create a "50/50" joint fund split between Kyiv and Washington, the source said.
"It ensures the equality of the parties. An investment fund will be created to invest in reconstruction. It is envisaged that there will be contributions from us and the United States," the source added.
When Washington provides new military aid, it will be counted as their contribution to the fund, the source said.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
