Kyiv Set to Sign Long-Delayed Minerals Deal With US on Wednesday

Ukraine is expected to sign a long-awaited critical minerals agreement with the United States on Wednesday, sources have confirmed to Kyiv Post and other publications. 

The deal – which US President Donald Trump has described as “money back” for American aid to Ukraine – will see Kyiv and Washington jointly invest in Ukraine’s rich but underdeveloped resources through a 50/50 fund, a senior official in the presidential administration told AFP. 

Ukrainian Economic Minister Yulia Svyrydenko is expected in Washington this week to finalize the agreement, though the source acknowledged that the Ukrainian Cabinet has not yet formally approved the latest draft. Sources confirmed to Kyiv Post that she is currently in transit to DC. 

Ukrainian Prime Minister Denys Shmyhal confirmed on television Svyrydenko’s trip to the US Wednesday afternoon, adding that the document is expected to be signed “in the next 24 hours” as the parties have agreed on the fundamental texts of the agreement, with the translation from English to Ukrainian being finalized.

The fund will reportedly finance reconstruction efforts, with both sides contributing – including via future US military aid in the form of air defense, a notable change from the last deal draft.

Ukrainian President Volodymyr Zelensky recently announced a desire to purchase 10 Patriot air defense systems, but it is unclear whether these systems are part of the deal. 

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“It ensures the equality of the parties,” the official said. “An investment fund will be created to invest in reconstruction.” AFP’s source also stressed that the agreement is not tied to any “debts” for past assistance. 

Multi-step process

Shmyhal said the deal consists of multiple documents, and the government is ready to sign it since “approvals of the main ministries have already been collected.”

“As soon as all the final details are finalized, in the near future – I hope, in the next 24 hours – the agreement will be signed, and we will receive the first step. This agreement will be followed by the signing of two more technical, executive agreements – directly on the creation of the fund and its financing and replenishment,” Shmyhal said. 

Answering reporters’ questions about the deal on Wednesday, Ukrainian lawmaker Yaroslav Zheleznyak said the documents will later be ratified by Ukraine’s legislature, the Verkhovna Rada, to implement the details stipulated. 

“Accordingly, I think that later in the parliament you will observe two processes: The first is the ratification of the agreement, and the second is changes to the legislation of Ukraine to implement the ratification of the agreement,” Zheleznyak said, according to Ukrainian news outlet UNIAN.

Talks around the deal had stalled after a sharp exchange between Trump and Zelensky at the White House on Feb. 28 but appear to be back on track.

Washington has argued that expanding US commercial interests in Ukraine’s reconstruction would bolster its security posture and help deter further Russian aggression – particularly in the event of a ceasefire. But Kyiv continues to push for formal defense commitments alongside economic deals.

This is a developing story.