U.S. and Ukraine Near Key Mineral Resources Deal Amidst Tense Geopolitics

Kyiv and Washington are working towards finalizing a deal granting the U.S. privileged access to Ukraine's mineral resources. A memorandum has been signed, moving towards an investment fund for Ukraine's reconstruction. Talks aim to balance U.S. military support and economic gains for both nations.

Kyiv announced on Friday its intention to conclude discussions with Washington by next week regarding a joint exploitation of Ukrainian mineral resources. Both countries hope the agreement will bolster U.S. support as Ukraine grapples with Russian aggression.

Though specifics of the deal are yet to be finalized, the United States is anticipated to receive special access to Ukraine's natural resources as compensation for military aid over the past three years. A memorandum of intent was signed late Thursday, marking a step towards repairing diplomatic ties that have been strained since February.

Ukrainian Prime Minister Denys Shmyhal is set to visit Washington to advance the discussions. The draft deal proposes a joint investment fund from income generated by Ukrainian resources, with details on U.S. access and revenue still under wraps.

(With inputs from agencies.)