Ukraine Prepares to Finalize Minerals Agreement with U.S.

An image shared by Ukraine's Presidential Press depicts Ukrainian leader Volodymyr Zelenskyy in dialogue with President Trump during their attendance at Pope Francis' funeral in the Vatican on April 26.

KYIV — The United States and Ukraine are on the brink of signing a significant agreement focused on co-investment in Ukraine's rich reserves of minerals, raw materials, and natural resources, aiming to bring sustained U.S. backing to Ukraine.

In a conversation with Ukraine's ICTV, Prime Minister Denys Shmyhal confirmed that Economy Minister Yulia Svyrydenko, who leads negotiations, is expected to travel to Washington to formally complete the deal with Scott Bessent from the U.S. Treasury.

Shmyhal highlighted that the investment initiative will constitute an equal 50-50 commitment from both countries, intending to aid Ukraine's rebuilding and developmental efforts.

"This partnership agreement is immensely beneficial, promising substantial investments in our nation and potentially securing U.S. military support," Shmyhal noted.

He further pointed out that the U.S. could possibly count recent military aid to Ukraine as part of its investment into this initiative.

The described agreement marks a triumph for Ukraine, especially since prior proposals from the Trump administration offered minimal benefits, redirecting profits to cover previously approved U.S. aid.

President Zelenskyy had previously rejected such a deal. On February 28, after a meeting with President Trump and Vice President Vance in Washington, the agreement was left uncertain.

However, a recent encounter at Pope Francis' funeral in Rome allowed both leaders to engage anew. Zelenskyy mentioned that it was a "productive conversation," while White House spokesperson Steven Cheung indicated further details of the discussion would be shared soon.

Post-agreement, Ukraine's parliament must still endorse the deal before full ratification.