Ukraine is ready to sign a resource agreement with the US as early as Wednesday - Bloomberg
Kyiv • UNN
Ukraine is ready to sign a natural resources agreement with the United States. The project envisages the creation of a joint fund to manage Ukrainian investment projects.
Ukraine is ready to sign a natural resources agreement with the United States, citing a person familiar with the situation, Bloomberg reports, UNN writes.
Details
The draft agreement, which provides for the creation of a joint fund to manage investment projects in Ukraine, "has been finalized and could be signed as early as Wednesday," the person said, speaking on condition of anonymity because the talks are private. Ukrainian Economy Minister Yulia Sviridenko is heading to Washington to sign, they said.
Under the agreement, the United States and Ukraine will seek to create conditions for "increased investment in mining, energy and related technologies in Ukraine," according to a draft document seen by Bloomberg. Washington also recognizes Kyiv's intentions for the agreement to avoid any conflict with its plans to join the European Union, which has long been considered a red line for Ukraine in the negotiations, the publication writes.
In another breakthrough, the United States agreed that "only future military assistance that they may provide to Ukraine after the agreement is signed will count toward their contribution to the fund," according to the document cited by the publication. Ukrainian Prime Minister Denys Shmyhal said on Sunday that Washington had abandoned its insistence on including tens of billions of dollars in aid provided since the Russian invasion in the agreement.
The signing may take place against the backdrop of growing frustration from US President Donald Trump with delays in establishing a ceasefire in the war, which has been going on for the fourth year. He questioned whether Russian dictator Vladimir Putin is ready to make progress on a peace plan that Trump sought to implement within the first 100 days of his new administration. White House Press Secretary Karolin Leavitt reiterated on Tuesday that Trump is frustrated by the difficulties involved in getting Ukraine and Russia to agree to a peace agreement, but "he remains optimistic and believes that we can do it." At the same time, Trump is "confident" that an agreement with Ukraine on critical minerals will be signed, the White House said on Tuesday.
The agreement "strengthens the strategic partnership between the parties for the long-term recovery and modernization of Ukraine in response to the massive destruction caused by Russia's full-scale invasion," according to the document.
Two other technical agreements that will define how the joint fund will work have not yet been agreed, the source said.
Addition
Earlier in April, US and Ukrainian officials signed a memorandum of intent and continued to discuss the technical details of an agreement that would give the US the right of first claim on profits transferred to a special investment fund for reconstruction, which will be controlled by Washington.
A previous attempt to reach an agreement failed earlier this year after Ukrainian President Volodymyr Zelensky clashed with Trump and Vice President Jay D. Vance in the Oval Office. Zelensky met face-to-face with the US President at the Vatican on Saturday before the funeral of Pope Francis.