The United States and Ukraine could sign a framework agreement on cooperation in the mineral sector this week. The day before, Kyiv said it had managed to secure an important concession from the Trump administration — to exclude previous American military aid from the agreement.
This is reported by the Financial Times, citing sources.
Senior Ukrainian officials told the FT that the framework agreement covers all mineral resources, including oil and gas, as well as major energy assets throughout Ukraine.
They have previously said that a US initiative to use the proceeds from the deal to pay off debts for military aid already provided could undermine the countryʼs sovereignty, potentially thwarting Ukraineʼs bid to join the European Union. Many Ukrainian MPs have said they are concerned about the minerals deal and have said they will not vote for it if it is unprofitable.
Ukraine and the United States signed a memorandum on April 17, which confirms the intention to finalize and conclude an agreement on subsoil. The text stated that the negotiating teams would report by April 26 in order to complete the discussions by that date and sign the agreement as soon as possible. What lies ahead is the finalization of the text of the agreement on subsoil and its signing, and then ratification by parliaments.
What is known about the US-Ukraine subsoil agreement?
The US Treasury Secretary Scott Bessent brought a pilot draft of a minerals agreement to Ukraine on February 12. Washington hoped that Kyiv would sign it immediately. However, President Zelensky said that he had banned the signing of the agreement because it would not be able to protect Ukraine’s interests — there is no connection to investments, profits, and security guarantees. After that, it began to be finalized.
The final agreement was supposed to be signed on February 28, during Volodymyr Zelenskyʼs visit to the White House. However, then Donald Trump and the Ukrainian president had a falling out — the Ukrainian delegation left the White House early. The document was not signed. However, both sides stated that negotiations on the agreement were ongoing.
The US is now proposing a new deal on Ukrainian minerals, as well as oil and gas, without offering security guarantees in return. The Financial Times, which has seen the draft agreement, writes that Washington is aggressively expanding its demands. Kyiv believes that this could undermine Ukraine’s sovereignty, divert profits abroad and deepen the country’s dependence on the US. However, Kyiv will ask to change the agreement, demanding in return increased American investment. Trump has already threatened Zelensky with “big problems” if he abandons the subsoil deal.
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