Ukraine Delays Signing U.S. Mineral Agreement Over Document Disputes

Ukraine and the U.S. said on Wednesday they were ready to sign an agreement on minerals that would likely set a milestone, but Kiev's last-minute changes were delaying the signing.

U.S. Treasury Secretary Scott Bessent stated Ukraine made "last-minute changes overnight," but there were "no last minute changes to our MOU" from the U.S.

Ukraine sent a representative to Washington, D.C. to sign the documents, but sources indicate disagreements over two additional documents that the U.S. was pushing. Ukraine felt the documents were too late, with the MOU already signed.

The agreement provides the U.S. preferential access to Ukraine’s rare earth minerals. This is important for the two sides’ technology and defense industries, as part of the efforts to rebuild relations with the Trump administration.

President Donald Trump had emphasized the subject of reciprocity, asserting that the U.S. should "get something," in return for the nearly $72 billion in military aid, since 2022. A draft document viewed by Reuters, confirmed Ukraine secured the removal of the past aid repayments obligations which is an important demand for Kiev.

The agreement creates a joint U.S.-Ukraine reconstruction fund, which uses 50% of state profits from new mineral permits that will go to the fund. The management and operations of the fund, who will benefit from it, and how it will be spent are still ambiguous.

Ukrainian Prime Minister Denys Shmyhal, clarified that Ukraine will keep full controller of its resources, with the fund having an investment nature in Ukraine's development for the next ten years. The U.S. would likely further contribute via other military assistance in the future, however, prior military assistance will not count against Ukraine's investment.