Ukraine’s economy minister Yulia Syvrydenko said the text of the agreement would be finalized next week after further talks in Washington.
Ukraine’s economy minister says it has signed a memorandum of intent with the United States, paving the way for a rare earth mineral agreement to be finalized next week.
Yulia Svyrydenko, who is Ukraine’s first deputy prime minister and economy minister, wrote on X, “We are happy to announce the signing, with our American partners, of a memorandum of intent, which paves the way for an economic partnership agreement and the establishment of the Investment Fund for the Reconstruction of Ukraine.”
She added, “This document is the result of the professional work of the negotiating teams, which recently completed another round of technical discussions in Washington.”
“Ahead is the finalization of the text of the agreement and its signing—and then, ratification by parliaments,” added Syvrydenko.
The memorandum of intent says Ukrainian Prime Minister Denys Shmyhal will travel to Washington at the start of next week to meet U.S. Treasury Secretary Scott Bessent and finalize the deal.
Ukraine has sizable deposits of rare earths—including graphite, lithium and titanium—used in electronics, and also uranium.
The details of the agreement have not been made public and it is not clear if it contains the security guarantees which Ukraine’s President Volodymyr Zelenskyy has demanded, to prevent future Russian aggression.
The minerals deal was originally due to be signed last month, but it did not go ahead after Zelenskyy clashed publicly with U.S. President Donald Trump and Vice President JD Vance in the Oval Office on Feb. 28.
Zelenskyy later said the row was “regrettable” and promised he would sign the minerals deal.
On March 4, Zelenskyy posted on X, “We see this agreement as a step toward greater security and solid security guarantees, and I truly hope it will work effectively.”
Speaking to reporters at the White House on April 17, Trump said Washington and Kyiv would likely finalize the deal next week.
Hours after the memorandum of intent was signed, Secretary of State Marco Rubio said on Friday the United States was ready to “move on” from efforts to negotiate a cease-fire between Russia and Ukraine peace deal if there was no progress in the next few days.
By Chris Summers and Andrew Thornebrooke
