US-Ukraine, closer to agreement - Kiev signs memorandum of understanding on minerals
Ukraine announced that it had signed the basis of a minerals agreement with the US, although details of the pact have not yet been announced.
Yulia Svyrydenko, Ukraine's minister of economic development and trade, said the two sides had signed a "memorandum of understanding." This pact would be the basis for an agreement, with Ukraine and the U.S. jointly developing the country's natural resources.
"We are happy to announce the signing with our American partners of a Memorandum of Understanding, which paves the way for an Economic Partnership Agreement and the creation of the Investment Fund for the Reconstruction of Ukraine," Svyrydenko posted on the social media platform X.
Svyrydenko did not provide further details on the draft agreement, but posted images of herself and US Treasury Secretary Scott Bessent signing the agreement.
Earlier, US President Donald Trump and Bessent had told reporters that a more comprehensive agreement would be signed next week. “We have a minerals agreement, which I think will be signed soon. And I assume that Ukraine will implement the agreement, so we’ll see,” Trump said at a White House news conference. Bessent added that “we’re still working out the details. We’re aiming for around April 26.”
Asked for more details, the treasury secretary said the deal was “basically what we agreed to before. But the president was here. We had a memorandum of understanding. We went straight to the big deal, I think it’s an 80-page deal, and that’s going to be signed.”
Trump has coveted a minerals deal with Ukraine since his inauguration in January, saying a pact to jointly develop and monetize Ukraine’s deposits of rare metals, critical minerals, oil, gas and other natural resources would effectively act as compensation for U.S. aid to Ukraine throughout its war with Russia. Ukrainian President Volodymyr Zelenskyy also signaled that the outlines of an agreement had been reached, telling reporters: “This is a memorandum of understanding. And we have positive and constructive intentions,” he said.
The Ukrainian leader added that the offer to sign the memorandum before the comprehensive agreement, which would require the Ukrainian parliament to ratify it, had come from the American side.
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