US-Ukraine inching toward mineral deal amid last-minute roadblocks

The United States and Ukraine are on the verge of signing a mineral deal after months of fraught and chaotic negotiations although a last-minute snag still necessities to be ironed out Ukraine's prime minister stated First Deputy Prime Minister Yulia Svyrydenko was flying to Washington on Wednesday to sign the deal which is central to Kyiv's efforts to mend ties with President Donald Trump and the White House as the U S president tries to secure a peace settlement in Russia's war in Ukraine The latest version of the minerals agreement was reached after Kyiv secured a substantial concession from the Trump administration that only future military aid would count as the US contribution to the deal according to the Financial Times HERE'S THE REAL REASON TRUMP AND ZELENSKYY'S DEAL BLEW UP IN THE OVAL OFFICETrump had indicated in February that he longed access to Ukraine s rare earth materials as a condition for continued U S advocacy in the war describing it as reimbursement for the billions of dollars in aid the U S has given to Kyiv But a famous Oval Office spat with Ukrainian President Volodymr Zelenskyy set negotiations back However the pair met face-to-face in Rome on Saturday at the Pope's funeral According to a draft of the new agreement seen by Reuters the two countries would create a joint reconstruction fund funded by of profits from Ukraine s new mineral licenses The draft agreement gives the U S preferential access to new Ukrainian natural materials deals but does not automatically hand Washington a share of Ukraine's mineral wealth or any of its gas infrastructure the draft demonstrated Ukraine would not be required to pay back previous aid provided to the war-torn country by the U S with only future aid being counted as America s contribution to the fund RUSSIAN ATTACKS ON UKRAINE INTENSIFY IN MAKE-OR-BREAK WEEK FOR PEACE TALKS Truly this is a strategic deal for the creation of an funding partner fund Shmyhal announced on Ukrainian television This is truly an equal and good international deal on joint financing in the improvement and restoration of Ukraine between the governments of the United States and Ukraine However a snag arose as Svyrydenko s plane headed to Washington with U S bureaucrats reportedly demanding that Ukraine sign three documents at once the framework a detailed fund agreement and a technical document which Ukraine says is not directly practicable due to required parliamentary ratification according to the Financial Times citing three people briefed on the situation Treasury Secretary Scott Bessent s squad reported her she should be ready to sign all agreements or go back home the Financial Times reports citing three people familiar with the matter The U S is seeking access to more than raw materials deemed strategically critical to its interests including selected non-minerals such as oil and natural gas Among them are Ukraine s deposits of titanium which is used for making aircraft wings and other aerospace manufacturing and uranium which is used for nuclear power health equipment and weapons Ukraine also has lithium graphite and manganese which are used in electric bicycle batteries Unlike an earlier draft the deal would not conflict with Ukraine s path towards European Union membership a key provision for Kyiv The two sides signed a memorandum published on April as an initial step towards clinching an accord on progressing mineral guidance in Ukraine In the memorandum they mentioned they aimed to complete talks by April and to sign the deal as soon as achievable Reuters and The Associated Press contributed to this assessment