Latest news Ukraine

No signing of Trump’s minerals deal expected this week, Ukraine’s Finance Minister says

Despite the US President’s announcement of a signing on Thursday, Ukraine’s Marchenko clarified that discussions on the deal are still underway.

byYuri Zoria

25/04/2025

3 minute read

antagonistic tone marks us-ukraine minerals deal talks says ukrainian trump has called proposed one “rare earths” though likely meant critical ukraine lacks major rare earth reserves holds some world’s largest

Ukrainian minerals. Trump called his proposed deal one on “rare earths,” though he likely meant critical minerals, as Ukraine lacks major rare earth reserves but holds some of the world’s largest deposits of graphite, lithium, titanium, beryllium, and uranium, all classified as critical by the US, per CNN. Map: CNN, based on Ukrainian Geological Survey, US Geological Survey, The Institute for the Study of War with AEI’s Critical Threats Project

No signing of Trump’s minerals deal expected this week, Ukraine’s Finance Minister says

On 24 April in Washington, Ukrainian Finance Minister Serhii Marchenko told Reuters that despite progress, he does not expect the signing of a US President Donald Trump-proposed minerals deal between Ukraine and the United States this week. The two sides are still working through some unresolved issues, not detailed by Marchenko, Ukrainian representatives are working to seal a deal “as fast as we can.“

Amid the ongoing Russo-Ukrainian war, President Trump is pressuring Ukraine to enter talks with Russia while pushing a colonial-style mineral deal that would grant the US exclusive access to critical resources, including rare earth elements. The latest known draft of the agreement reportedly required Ukraine to transfer 100% of profits from resource extraction to a US-controlled fund—plus a 4% annual interest—before accessing any returns itself. Additionally, the Trump administration retroactively reclassified all US aid provided since 2022 as a loan, demanding repayment, according to the draft. Last week, Ukraine and the US signed a memorandum as a first step toward enhancing economic cooperation, including the development of Ukraine’s mineral resources, while a Ukrainian official claimed that the deal does not turn the past US aid into debt.

This comes after Marchenko and other Ukrainian officials met with US Treasury Secretary Scott Bessent on 23 April to continue discussions on the proposed deal.

“We have a minerals deal, which I guess is going to be signed on Thursday, next Thursday,” Trump stated last week, referring to 24 April as a date of signing.

Marchenko emphasized the urgency of finalizing the agreement, but he added that a signing this week was unlikely.

“There was progress and now our teams are working very closely together,” Marchenko said, but without a specific timeline for completion. He added: “There are still some questions which we are discussing.”

The deal has faced significant delays. In February 2025, a planned signing was postponed following a tense meeting between Trump and Ukrainian President Volodymyr Zelenskyy in the Oval Office.

In addition to the minerals pact, Marchenko and US officials have also discussed the issue of frozen Russian assets, which Ukraine wants to be transferred to Ukraine to cover war damages and losses caused by the ongoing war. Marchenko says Bessent has indicated that the resolution of this issue should be part of broader negotiations between the two countries.

Related:

You could close this page. Or you could join our community and help us produce more materials like this. We keep our reporting open and accessible to everyone because we believe in the power of free information. This is why our small, cost-effective team depends on the support of readers like you to bring deliver timely news, quality analysis, and on-the-ground reports about Russia's war against Ukraine and Ukraine's struggle to build a democratic society. A little bit goes a long way: for as little as the cost of one cup of coffee a month, you can help build bridges between Ukraine and the rest of the world, plus become a co-creator and vote for topics we should cover next. Become a patron or see other ways to support. Become a Patron!

To suggest a correction or clarification, write to us here

You can also highlight the text and press Ctrl + Enter

We are an independent media outlet that relies solely on advertising revenue to sustain itself. We do not endorse or promote any products or services for financial gain. Therefore, we kindly ask for your support by disabling your ad blocker. Your assistance helps us continue providing quality content. Thank you!