Ukraine, US may sign mineral resources deal online

Deputy Head of the Presidential Office Ihor Zhovkva said during a national telethon on 14 March that Ukraine proposed the possibility of signing a mineral resources agreement with the United States in an online format during talks in Saudi Arabia.

“We are talking about the possibility of an offline meeting. This can happen on the territory of the United States, Ukraine, or a third country. This is possible. Or there is an online signing format. The American side has accepted this information,” Zhovkva said.

He emphasized that Ukraine reiterated its readiness to sign an agreement on rare earth resources during the negotiations in Jeddah.

The Presidential Office representative assured that Kyiv is ready for developments “at a fast pace” regarding the agreement.

Following talks in the Saudi city of Jeddah on 11 March, the presidents of the United States and Ukraine reached an agreement on developing Ukraine’s critical mineral resources.

The failure to sign the mineral agreement with Ukraine reportedly underlies the deterioration of relations between Kyiv and Washington.

President Volodymyr Zelenskyy said on 12 March that Ukraine is “ready to sign” a framework agreement with the United States on rare earth metals.

Vice Prime Minister for European and Euro-Atlantic Integration Olha Stefanishyna said on 14 March that the framework agreement with the United States on mineral resources is complete and Ukraine is ready to sign it at any time.

“The agreement is ready, no changes are being made to the text. The negotiations are closed,” she said.

According to Stefanishyna, the American side has not determined when or under what conditions they want to sign it at this stage.“Ukraine is ready to sign at any time,” she added.

The mineral deal, agreed between the US and Ukraine, establishes a joint investment fund for Ukraine’s critical minerals and other resources. Ukraine will contribute 50% of the revenues from the future monetization of its state-owned mineral resources to this fund, which will invest in projects within Ukraine.

The agreement does not include security guarantees from the US, a point of contention during negotiations. The deal aims potentially support Ukraine’s post-conflict reconstruction.

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