FM: Ukraine aims to sign US mineral deal, but negotiations continue for balanced terms

Ukraine is determined to finalize a deal with the United States concerning mineral resources, but it seeks to refine the text of the agreement to ensure it aligns with the interests of both sides.

Ukrainian Ministry of Foreign Affairs, Andrii Sybiha, made the statement during the press conference, Caliber.Az reports, referring to Russian media.

"I confirm that we have started consultations with the American side on the text of the agreement. One round of consultations has already taken place. The Ukrainian side is focused on adopting a document that would serve the national interests of both the US and Ukraine. We believe that the text of the agreement, which envisions the continued presence of large American businesses, is also a contribution to the security structure of Ukraine. The process is ongoing, and we will work with our American colleagues to reach a mutually acceptable text for signing," Sybiha said 

Earlier, Ukrainian President Volodymyr Zelenskyy revealed that the US had presented a new draft agreement regarding mineral resources. According to the new terms, Kyiv would be required to compensate for assistance exceeding $120 billion. Additionally, the US would gain control over an investment fund being established for Ukraine's reconstruction, with revenues from Kyiv allocated to the fund through license payments and royalties from mineral extraction.

On March 28, a source within Zelenskyy’s office said that Kyiv and Washington held an extensive discussion regarding the new draft agreement. The source further explained that this discussion was focused on finalizing the terms of the deal.

US Treasury Secretary Scott Bessent also commented, stating that the United States and Ukrainian authorities could sign the economic cooperation agreement, including provisions on minerals, as early as this week. However, Ukrainian officials clarified that they are still refining their stance on the agreement and its specifics.

Amid these developments, US President Donald Trump warned that if Zelenskyy attempts to "back out of the deal," he would face "big problems."

By Tamilla Hasanova