Europe

Home page

Europe

Ukraine agrees minerals deal with United States

25 February 2025 23:49 (UTC +04:00)

Kyiv has agreed terms with Washington on a minerals deal that Ukrainian officials hope will improve relations with the Trump administration and pave the way for a long-term U.S. security commitment, APA reports citing Financial Times.

Ukrainian officials say Kyiv is now ready to sign the agreement on jointly developing its mineral resources, including oil and gas, after the United States dropped demands for a right to US$500 billion in potential revenue from exploiting the resources.

Although the text lacks explicit security guarantees, the officials argued that they had negotiated far more favourable terms and depicted the deal as a way of broadening the relationship with the U.S. to shore up Ukraine’s prospects after three years of war.

“The minerals agreement is only part of the picture. We have heard multiple times from the U.S. administration that it’s part of a bigger picture,” Olha Stefanishyna, Ukraine’s deputy prime minister and justice minister who has led the negotiations, told the Financial Times on Tuesday.