As both parties finalized the details of their deal, Ukraine is expected to sign a long-awaited minerals deal with the United States, according to Prime Minister Denys Shmygal.
US President Donald Trump has referred to the agreement as “money back” for the US’s wartime aid, which would see Washington and Kyiv work together to develop Ukraine’s mineral resources.
On Wednesday, Shmygal said on national TV, “This is truly a good, equal, and beneficial international agreement on joint investments in the development and recovery of Ukraine.”
He continued, “I hope the agreement will be signed in the near future, within the next 24 hours, and we will take the first step.”
Washington did not respond right away.
Negotiations between Ukraine and the US were supposed to be done a few weeks ago, but a tense exchange between Trump and Volodymyr Zelenskyy in the White House temporarily slowed things down.
According to Al Jazeera’s Alan Fisher, who is a White House correspondent, “It seems there are still some details to work out.” However, that agreement is anticipated to be signed in the coming 24 hours.
Joint fund
Any agreement to stop Russia’s three-year invasion has been pushed by Ukraine for security guarantees.
In the event of a ceasefire, the Trump administration has argued that strengthening US business interests in Ukraine will help deter Russian aggression.
If the deal included any security guarantees for Ukraine, it was unclear.
According to a senior source in the Ukrainian presidency, the agreement will not be related to any “debts” for previous aid Kyiv has received, creating a “50/50” joint fund for Kyiv and Washington, according to the AFP news agency.
It guarantees the parties’ equality. To support reconstruction, a new investment fund will be established. Both the United States and us are anticipated to contribute, the statement continued.
According to a draft draft of the agreement, Washington will be credited with contributing to the joint fund when it provides new military aid.
However, the draft does not specify how the joint fund’s revenues will be spent, who receives benefits, or who controls spending decisions.
According to the draft, the United States or other designated parties will have preferential access to new permits, licenses, and potential investment opportunities in the field of Ukrainian natural resources, according to the draft. Existing agreements are not included.
Sources with knowledge of the situation claimed earlier this month that the deal would include Ukraine’s most valuable asset, which had been stated in earlier iterations of the negotiations.
Source: Aljazeera
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