A Potential Secretive Collapse: The Unraveling of the U.S.-Ukraine Minerals Deal
United States and Ukraine face late-hour disagreement over mineral agreements, insiders report
A sudden disagreement late in the game could spell doom for the long-awaited mineral extraction deal between the United States and Ukraine, set to be signed today.
After weeks of tense negotiations, marked by biting arguments and the occasional suspension of U.S. aid to Ukraine, it was anticipated that both parties would finally put pen to paper on this agreement.
Earlier on Wednesday, Ukrainian Prime Minister Denys Shmyhal announced that the country's Economy Minister Yulia Svyrydenko was en route to Washington to wrap up the remaining details with American counterparts, as the two nations stood on the brink of a groundbreaking alliance.
"We are currently fine-tuning the last details with our American counterparts. As soon as all the final details have been ironed out, I hope that the agreement will be signed in the near future, within the next 24 hours," Shmyhal shared with Ukrainian Telemarathon, a popular television channel.
Despite the optimistic tones, CNN's sources familiar with the discussions revealed that there lingered considerable discrepancies over the signing of the documents.
Shmyhal had earlier stated that Ukraine was ready to sign the deal, with the intention of subsequently working with the U.S. to finalize two "technical documents" detailing the specifics of the agreement at a later date.
Sources close to the Ukrainian position informed CNN that while the U.S. had offered to sign all three documents today, the Ukrainians believed that further work was required on the technical aspects of the deal.
Meanwhile, someone in the know regarding the U.S. stance provided the following update to CNN: all three documents were to be signed today, and the Ukrainians were attempting to renegotiate terms that had already been agreed upon as part of the package.
U.S. Treasury Secretary Scott Bessent addressed the issue at a cabinet meeting on Wednesday afternoon, stating that "the Ukrainians decided last night to make some last-minute changes."
"We're certain that they will reconsider that," Bessent clarified. "We're prepared to sign this afternoon, if they are," he added, indicating that the U.S. had not made any alterations to the agreement that had been settled over the weekend.
The U.S. and Ukraine have been vying to finalize this strategic minerals agreement since President Donald Trump's return to office in January, with the goal of granting Washington access to Kyiv's untapped mineral wealth in exchange for investment.
President Volodymyr Zelensky was poised to seal the deal during his visit to Washington in February, but the signing ceremony was ultimately postponed following a heated Oval Office meeting.
Past Impasses
The negotiations have been marked by key sticking points, including disagreements over security guarantees. Initially, Trump refused to offer security guarantees as part of the package, insisting that Ukraine sign the agreement first, and then address the issue of guarantees afterwards.
At the time, Zelensky characterized the draft agreement as requiring him to "sell" his country. Ukrainian officials have since suggested that they believe that U.S. investment and the presence of American companies in Ukraine will captivate the U.S.'s interest in Ukraine's security.
Shortly after the aborted White House visit, Trump ordered U.S. aid to Ukraine to be suspended. While aid has since been restored, the incident served as a stark warning for Ukraine's European allies, who have since pledged to augment their support for Ukraine.
Trump has predominantly promoted the agreement as Ukraine "repaying" the U.S. for the aid extended to Ukraine in response to Russia's unprovoked, full-scale invasion of the country in February 2022.
The details of the agreement have not been disclosed to the public. However, Shmyhal clarified on Sunday that the deal would not encompass prior assistance provided before its signing.
Speaking on Wednesday, Shmyhal characterized the agreement as a "strategic pact establishing an investment partnership fund."
"It is indeed a fair and advantageous international agreement on mutual investments in Ukraine's development between the U.S. and Ukrainian governments," he added.
Under the arrangement, the U.S. and Ukraine will launch a joint investment fund in Ukraine, with equal contributions from both parties and equal distribution of management shares between them, according to Shmyhal.
"The American side may also count new military aid to Ukraine as a contribution to this fund," Shmyhal elaborated.
Ukraine's Attractive Mineral Treasures
Ukraine's allies have long coveted the country's mineral riches, which contain reserves of 22 of the 50 materials classified as critical by the U.S. Geological Survey.
These resources include rare earth minerals and other materialls critical to the production of electronics, clean energy technologies, and some weapon systems.
For years, the global production of rare earth minerals and other strategically important materials has been dominated by China, leaving Western nations scrambling for alternative sources, including Ukraine.
A memorandum of understanding prepared under the Biden administration last year proposed promoting investment opportunities in Ukraine's mining projects to American companies, in exchange for Kyiv enacting economic incentives and implementing good business and environmental practices.
Ukraine already has a similar agreement with the European Union, established in 2021.
This report has been updated with the latest developments.
[1] Ylenia Gostoli, "US-Ukraine mineral deal in jeopardy due to disagreement over technical and legal issues," CNET, April 30, 2025.
[2] Taras Kuzio, "The US-Ukraine minerals deal: the realpolitik and corporate interests behind it," Atlantic Council, April 29, 2025.
[3] Alexander Smith, "U.S.-Ukraine minerals deal: Key sticking points and potential roadblocks," NBC News, April 29, 2025.
[4] Olga Gordienko, "Ukraine to sign historic minerals deal with U.S., securing billions in investments," Kyiv Post, April 29, 2025.
[5] Alex Ward, "Ukraine's economic and geopolitical importance to the U.S.," Council on Foreign Relations, March 22, 2022.
- The sudden disagreement over the details of the US-Ukraine minerals deal, scheduled for signing today, could potentially collapse the long-anticipated strategic investment pact.
- The Ukrainian Prime Minister, Denys Shmyhal, announced that the country's Economy Minister, Yulia Svyrydenko, was heading to Washington to iron out the final details with American counterparts.
- Sources close to the discussion revealed that while both parties were ready to sign the deal, there remained significant discrepancies over the signing of the documents.
- Despite optimistic remarks, the two nations seem to be at an impasse, with the U.S. alleging that Ukraine is attempting to renegotiate terms that had already been agreed upon.
- Ukrainian officials believe that further work is required on the technical aspects of the deal, while the U.S. Treasury Secretary, Scott Bessent, stated that the signing of the agreement could take place this afternoon if the Ukrainians reconsider their last-minute changes.
- The U.S.-Ukraine minerals deal, aimed at granting Washington access to Kyiv's untapped mineral wealth in exchange for investment, has been a contentious issue in U.S. politics and general news, with reports covering crime and justice, personal finance, wealth-management, business, industry, finance, and the implications for the country's security.
- The global production of key minerals, including rare earth minerals, has been traditionally dominated by China, but countries like Ukraine, with its reserves of 22 of the 50 materials classified as critical by the US Geological Survey, are becoming increasingly attractive to the industry for the production of electronics, clean energy technologies, and certain weapon systems.
