Ukraine and U.S. Approach Key Minerals Deal Amidst Challenges

Ukraine is set to finalize a minerals deal with the U.S., after tense negotiations. The agreement, central to improving ties with the Trump administration, promises preferential access to resources but does not directly grant the U.S. a stake. A joint fund will channel profits to Ukrainian development.

Ukraine announced on Wednesday its readiness to sign a minerals deal with the United States. This comes after extended negotiations, though a last-minute issue has reportedly emerged. Ukrainian Prime Minister Denys Shmyhal revealed that First Deputy Prime Minister Yulia Svyrydenko is en route to the U.S. to formalize the agreement.

Sources suggest the signing could occur later in the day. However, the U.S. is reportedly urging Ukraine to endorse two additional documents beyond the main deal, causing hesitation in Kyiv. These documents' status remains uncertain, pending further discussion.

The deal, seen as crucial to reinforcing American support during the ongoing conflict with Russia, offers the U.S. significant access to Ukrainian resources, yet stops short of sharing its mineral wealth. A proposed joint U.S.-Ukrainian fund aims to stimulate regional reconstruction, managing profits from new resource permits. The intricacies of revenue allocation remain undefined.

(With inputs from agencies.)