Ukraine and US Move Closer to Critical Minerals Deal Amid Reconstruction Efforts
Key Developments:
- Memorandum Signed: Ukraine and the U.S. have inked a Memorandum of Intent, paving the way for an Economic Partnership Agreement and an Investment Fund for Ukraine’s Reconstruction.
- Final Deal Expected Soon: U.S. officials anticipate finalizing the agreement by next week, though details remain under negotiation.
- Strategic Importance: The deal would grant the U.S. access to Ukraine’s critical minerals, oil, and gas, while supporting post-war recovery.
Key Statements:
- Yulia Svyrydenko (Ukraine’s Economy Minister):
- Announced the signing on X (Twitter), calling it a step toward a broader economic partnership.
- Confirmed the Investment Fund will be jointly managed by Kyiv and Washington on equal terms.
- Scott Bessent (U.S. Treasury Secretary):
- Described the deal as an 80-page agreement, largely reflecting prior discussions.
- Indicated the final signing could happen as early as next Thursday.
- Donald Trump’s Remarks:
- Briefly mentioned the deal during a press conference, stating, “We have a minerals deal… I assume they’re going to live up to it.”
Political Context:
- Previous Setback: Negotiations were derailed in February after a heated exchange between Trump and Zelensky at the White House.
- Zelensky’s Long-Term Goal: The Ukrainian president had sought U.S. security guarantees as part of the deal, but the focus has since shifted to economic and resource cooperation.
What’s Next?
- The final agreement is expected to include:
- Resource access for the U.S. (critical minerals, energy).
- A reconstruction fund to attract private and public investment.
- Unresolved Issues: The White House has not yet clarified the exact terms or whether security assurances will be included.
The memorandum marks a significant step in Ukraine-U.S. economic relations, particularly as Kyiv seeks post-war stability and Washington secures strategic resources. However, the deal’s final form—and whether it addresses security concerns—remains uncertain. With tensions lingering from February’s clash, both sides will need to navigate diplomatic and logistical hurdles to cement the partnership.
