U.S. and Ukrainian negotiators have signed a memorandum indicating their intent to reach a mineral resources agreement, Ukrainian Economy Minister Yuliya Svyrydenko announced on Thursday.
“We’re preparing to establish the Ukraine Recovery Investment Fund. The corresponding agreement will open up opportunities for substantial investment, infrastructure modernization, and a mutually beneficial partnership between Ukraine and the U.S. — this is precisely the goal the teams are working toward with this document,” Svyrydenko explained, adding that Kyiv and Washington must now “finalize” the text of the agreement and sign it. The deal will come into force once the Ukrainian and U.S. legislatures have ratified it.
Volodymyr Zelensky previously announced that the memorandum would be signed on April 17, while Donald Trump said the signing would come slightly later, on April 24. The signing is not expected to include another in-person meeting between the two presidents, who had a public falling out before news cameras when they last met at the White House in late February.
After the Oval Office scandal, American negotiators drafted a new version of the mineral resources agreement that would have granted the U.S. access to all of Ukraine’s mineral deposits. Ukrainian officials have acknowledged this proposal but stated that it was only one of several “versions” offered by Washington, and that discussions on the deal are ongoing.
