Ukraine and the United States are now poised to sign a long-anticipated mineral resources deal after a last-minute sang delayed the signing on Wednesday, Ukrainian Prime Minister Denys Shmyhal said in a post on Telegram.
Both sides were ready to sign the agreement on critical minerals and other resources but the U.S. said it wanted the main minerals resources agreement signed and the creation of an investment fund document signed at the same time, Shmyhal and a source in the Ukrainian president’s office said.
The agreement will establish an investment fund between the U.S. and Ukraine in coordination with a mineral resource agreement between the two countries.
“The Fund will be replenished with contributions from the United States and Ukraine. The Fund’s profits will be reinvested exclusively in Ukraine,” Shmyhal said in the post.
President Donald Trump welcomes Ukraine President Volodymyr Zelenskyy at the White House in Washington, Feb. 28, 2025.
Ben Curtis/AP
Ukraine had planned to separate the signing dates, as the creation of the fund agreement was still being finalized, the source added.
“Now they’ll be rushing to finish it,” the source said.
Earlier Wednesday, Ukraine was ready to sign the mineral resources agreement but ran into a last-minute snag when the U.S. requested to sign both the mineral resources agreement and the investment fund agreement at the same time, a Ukrainian official told ABC News. The U.S. refuted that series of events in comments during President Donald Trump’s Cabinet meeting Wednesday, saying it was “ready to sign” the agreement but the Ukrainians decided on Tuesday night to “make some last-minute changes,” Treasury Secretary Scott Bessent said in the Cabinet meeting.
“Our side is ready to sign,” Bessent said.
When asked what was changed, Bessent said there have been “no changes on our side.”
Trump then put the mineral resources agreement into “context,” talking about the amount of money the U.S. has given to Ukraine’s war effort. But he seemed optimistic about the prospect of the agreement coming together.
“But we haven’t really seen the fruits of that deal yet. I suspect we will,” Trump said.
Trump and Ukrainian President Volodymyr Zelenskyy were originally set to sign the minerals deal in late February, but the plan was derailed following a tense exchange between the two men in the Oval Office.
This is a developing story. Please check back for updates.
