Kyiv is expected to sign a significant minerals agreement with Washington, possibly as early as tonight, according to Ukrainian government sources cited by Reuters and AFP.
Ukrainian Finance Minister Yulia Svyrydenko is currently traveling to the United States and is expected to formalize the agreement during her visit. “I believe the agreement could be signed late tonight, Kyiv time,” said one Ukrainian government official to Reuters, while a senior presidential source confirmed similar expectations to Agence France-Presse. Bloomberg has also reported that the signing could take place as soon as today.
This upcoming agreement is part of a broader strategic shift initiated by U.S. President Donald Trump, who aims to secure access to Ukraine’s valuable mineral resources — especially rare earth elements — in exchange for past and potential future American military and economic aid. This approach contrasts with the stance of his predecessor, Joe Biden, under whose administration the U.S. had provided substantial support to Ukraine following Russia’s full-scale invasion in February 2022.
On April 18, the two nations signed a memorandum of understanding (MoU), which marked the first formal step toward a full agreement on the development and exploitation of Ukraine’s rare earth resources. The MoU outlined a target date of April 26 to finalize negotiations, with both sides aiming for rapid signature and implementation.
Ukrainian Prime Minister Denys Shmyhal has since confirmed that Kyiv agreed that past U.S. aid will not be counted toward any valuation in the minerals agreement. During his recent visit to Washington, Shmyhal held discussions with U.S. Treasury Secretary Scott Bessent and described the talks as making “good progress.”
Shmyhal also emphasized that Ukraine had established clear “red lines” to ensure that any final deal complies with both Ukrainian law and the country’s obligations under European agreements. Despite initial expectations for a deal in February, the process was delayed due to what was described as a “tense” meeting between President Volodymyr Zelensky and President Trump in the Oval Office.
Now, with final details being settled, Shmyhal stated in a televised address that the deal has evolved into a “genuine partnership agreement” and that Ukraine and the U.S. could sign it within 24 hours.
According to the Ukrainian Prime Minister, once the primary agreement is signed, two additional technical agreements will follow. These will establish an Investment Fund dedicated to restoring Ukraine’s economy and managing American financial contributions to support long-term development and reconstruction efforts.
Source: ANA-MPA, Translated by: Konstantinos Menyktas
