Ukrainian PM reveals details of upcoming Ukraine-US minerals deal
Photo: Prime Minister of Ukraine Denys Shmyhal (Getty Images)
The upcoming Ukraine-US minerals deal will be a fully equal partnership, with a 50/50 split in both management and funding of the investment fund, said Prime Minister Denys Shmyhal.
"The minerals deal with the US will be an absolutely partnership agreement: the investment fund will be equally managed and funded, 50/50. Contributions will be made in monetary form, and the American side will be allowed to count new military aid as part of its investment in the fund,” Shmyhal explained.
He emphasized that Ukraine will retain full control over all its resources and infrastructure under the agreement. Ukraine’s contribution will come solely from new mineral extraction licenses. No US aid provided prior to the agreement will be its subject.
According to Shmyhal, the fund is designed to invest in Ukraine’s development over a 10-year period. This includes both capital investments and potential purchases of Ukrainian products under a take-or-pay model. The agreement also stipulates zero tariffs for both Ukraine and the US.
Additionally, the United States will commit to involving other international partners in the project.
"This agreement does not contradict Ukraine's accession to the European Union," Shmyhal added.
Ukraine–US agreement
Ukraine and the United States began discussions on a minerals deal back in February. Since then, both sides have been working on terms acceptable to both Kyiv and Washington.
In March, the US submitted a new draft agreement to Ukraine. The two sides have held several technical online meetings to negotiate cooperation terms.
In early April, Ukraine’s Foreign Minister Andrii Sybiha stated that Kyiv had finalized its position and was preparing a delegation for talks in Washington.
According to President Volodymyr Zelenskyy, the revised agreement with the United States is now "stronger" and "more equal."
RBC-Ukraine's sources report that Ukraine and the US could sign the minerals deal as early as today, April 30. First Deputy Prime Minister Yuliia Svyrydenko is currently in Washington.
Prime Minister Denys Shmyhal has confirmed that the minerals deal between Ukraine and the US will be signed within the next 24 hours.
