Ukraine ready to sign mineral resources deal with US on Wednesday

Ukraine is prepared to sign a landmark mineral resources agreement with the United States in Washington on Wednesday, according to two senior Ukrainian officials.

Ukraine’s economy minister, Yulia Svyrydenko, was in Washington on Wednesday to help sew up technical aspects of the deal, according to two senior Ukrainian officials.

Although the main part of the agreement had been settled, there were still hurdles to overcome, said a senior Ukrainian official.

For Ukraine, the deal is seen as key to ensuring its access to future US military aid.

Ukrainian Prime Minister Denys Shmyhal said: “Truly, this is a strategic deal for the creation of an investment partner fund.

“This is truly an equal and good international deal on joint investment in the development and restoration of Ukraine between the governments of the United States and Ukraine.”

US President Donald Trump indicated in February that he wanted access to Ukraine’s rare earth materials as a condition for continuing US support in the war, but talks stalled after a tense Oval Office meeting between US and Ukrainian leaders, and reaching an agreement has proven difficult and strained relations between Washington and Kyiv.

It was not immediately clear whether the Trump administration was also ready to sign the deal.

The US is seeking access to more than 20 raw materials deemed strategically critical to its interests, including some non-minerals such as oil and natural gas.

Among them are Ukraine’s deposits of titanium, which is used for making aircraft wings and other aerospace manufacturing, and uranium, which is used for nuclear power, medical equipment and weapons.

Ukraine also has lithium, graphite and manganese, which are used in electric vehicle batteries.

Talks had stalled earlier this year after a tense Oval Office meeting in February between the US and Ukrainian leaders.

For Ukraine, the deal is seen as possibly key in getting future military aid from the US.

The Ukrainian cabinet is expected to approve the agreement’s text before the Washington meeting, after which it will be signed by an authorised government representative.

The deal will then require ratification in the Ukrainian parliament before it can take effect.

According to one of the Ukrainian officials, multiple documents are involved – including a main agreement and at least two technical accords outlining the structure and operations of the joint fund.

The official said that the Ukrainian side is generally satisfied with how the agreement has evolved following negotiations between both teams.

The other senior official expressed hope that there would be no further changes from Washington’s side.

Ukraine has introduced new provisions to the agreement, aiming to address earlier concerns that the initial US draft, presented in March, disproportionately favoured American interests.

Negotiations between the two sides have continued steadily since then.

One industry official close to the discussions said that more “details and not just declarations” were added to the text.

In Moscow, a senior Kremlin official said on Wednesday that clinching a deal to end the Russia-Ukraine war “is far too complex to be done quickly”, as the US labours to bring momentum to peace efforts and expresses frustration over the slow progress.

Meanwhile, a night-time Russian drone attack on Kharkiv, Ukraine’s second-largest city, wounded at least 45 civilians, officials said.

The United Nations reported that the number of Ukrainian civilian casualties in the more than three-year war has surged in recent weeks amid Washington’s attempts to broker a peace agreement.