The United States and Ukraine signed a memorandum of understanding on Thursday (April 17) regarding Ukraine’s mineral resources. According to a report by Reuters, this move marks the first step in granting the U.S. access to Ukraine’s mineral resources, based on a proposal from U.S. President Donald Trump.
Ukraine’s First Deputy Prime Minister and Finance Minister, Yulia Svyrydenko, confirmed the agreement. On social media, she stated, “We are pleased to announce the signing of a memorandum with our American partners. We are hopeful that this will pave the way for an economic partnership agreement and investment fund for Ukraine’s reconstruction.”
President Trump hinted that the final agreement could be signed next week.
Since returning to the White House, Trump has made several unprecedented moves regarding Ukraine. These include summoning Ukrainian President Volodymyr Zelensky to Washington and reportedly demanding half of Ukraine’s mineral reserves in exchange for continued U.S. support, as well as initiating direct ceasefire discussions with Russian President Vladimir Putin, bypassing other stakeholders.
There had been considerable speculation over the past few weeks regarding the mineral deal. A new and detailed proposal was recently sent from Washington, leading to a visit by a Ukrainian delegation to the U.S. at the end of last week for negotiations.
Notably, no further progress had been made based on the earlier draft agreement.
Speaking to journalists at the Oval Office on Thursday, U.S. Treasury Secretary Scott Bessent, who was present with President Trump, said the final agreement may be signed by Friday, as they are currently reviewing all the details.
The White House has not released any further information about the contents or exact timeline of the mineral resource agreement.