US-Ukraine mineral deal is again at risk of collapse - FT
On Wednesday, the U.S. and Ukraine hit a last-minute obstacle as they were close to signing a rare earths deal. Washington demanded that Kyiv sign both a framework agreement and a detailed document on the creation of an investment fund.
This is reported by the Financial Times, citing sources, Censor.NET reports.
As noted, Kyiv and Washington agreed to create an investment fund for the development of Ukraine's mining and energy sectors.
While the Ukrainian delegation is on its way to Washington, the US insists that Ukraine sign not only a framework agreement but also a detailed agreement on the fund.
However, Deputy Prime Minister and Minister of Economy Yulia Svyrydenko said that the second document needs to be ratified by the Verkhovna Rada before it can be signed. That is why there is no final agreement between the countries.
This came after Kyiv secured a significant concession from the Trump administration, according to which only future military aid would be considered a US contribution to the deal.
US Treasury Secretary Scott Bessent's team told Svyrydenko that she should "be prepared to sign all the agreements or go home."
One source familiar with the U.S. position said on Wednesday that the talks did not end as Ukraine tried to renegotiate the terms agreed to over the weekend.
According to this source, senior U.S. officials fear that this will reduce transparency and accountability, but a deal could still be signed as early as Wednesday if Ukraine returns to the original terms.
"President Trump has said the time is now, and we are moving toward that goal with all the speed necessary. The United States is committed to getting this important deal done quickly and ensuring lasting peace in Ukraine," said a U.S. Treasury Department spokesman.
One Ukrainian official who participated in the talks expressed disappointment with the U.S. actions, saying they feared "they will not like anything."
"We are ready to sign a framework agreement today," the official said, adding that the chances of this happening do not exceed "50-50."
"We believe that the teams have done a good job and the agreement is much better for both countries," said one Ukrainian official with knowledge of the matter.
What preceded it?
Earlier, after a meeting with U.S. Treasury Secretary Scott Bessent, Prime Minister Denys Shmyhal said that the Ukraine-U.S. agreement on minerals would not include U.S. aid provided to Ukraine before it was signed.
On April 25, US President Donald Trump said that Ukraine should "immediately sign" an agreement on rare earth metals with the US.
On April 17, Ukraine and the United States signed a memorandum as a first step toward reaching an agreement to expand economic cooperation, including the development of mineral resources in Ukraine, which has proven to be unattainable.
Earlier, President Volodymyr Zelenskyy said that as early as April 17, Ukraine and the United States could sign a memorandum of intent to conclude a minerals agreement online.
In turn, US President Donald Trump said that the minerals agreement with Ukraine would be signed next Thursday (April 24).
