Skynews: Ukraine reaches agreement on minerals with the US

Ukraine has agreed to the terms of a major minerals deal with the US, a Ukrainian government source has told Sky News.

Once signed, the agreement could lay the foundations for a new long-term partnership between Kiev and President Donald Trump’s administration after weeks of rising tensions.

The source said that the document is expected to be signed “very soon”.

This could even take place during a personal meeting between Ukrainian President Volodymyr Zelensky and his American counterpart.

The agreement sets out the conditions for the creation of a new fund to invest in minerals, rare materials and other valuable natural resources in Ukraine.

The original US claim to potential revenues from these resources amounting to over 500 billion US dollars (395 billion pounds) is no longer included.

For Trump, the minerals deal with Ukraine is a fair way to get back the billions of dollars the US has given Kiev over the past three years in the form of weapons and financial support for its armed forces in the fight against Russia’s total invasion.

The document also does not contain a commitment from Washington to provide Ukraine with security guarantees following a ceasefire agreement with Vladimir Putin – although Kiev has persistently demanded and requested this.

More precise details on the new partnership are to be clarified in future talks.

The two sides have agreed on a framework agreement involving the creation of a fund that will be partly filled with minerals and other natural resources, the government source said on condition of anonymity.

“This is a political move to ensure that the revenues from these funds will be used for the security and reconstruction of Ukraine,” the source said.

The fund will consist of US money to be invested in Ukraine’s natural resources, while the profits will be split between Washington and Kiev, according to the information available.

The Financial Times first reported on the agreement. According to the newspaper, the final version of the agreement dates back to February 24.

Otherwise, the European Union has reportedly offered an agreement on these minerals /Telegrafi/.