Ukraine set to finalise minerals deal with US

Ukraine is ready to sign an agreement that would give the US access to its valuable rare minerals in the hopes of ensuring continued American support for Kyiv in its grinding war with Russia, senior Ukrainian officials said Wednesday.

Ukraine’s economy minister and deputy prime minister, Yulia Svyrydenko, was headed to Washington on Wednesday to help finalise the deal, according to two senior Ukrainian officials who spoke on condition of anonymity because they weren’t authorised to discuss the matter publicly.

For Ukraine, the agreement is seen as key to ensuring its access to future US military aid.

“Truly, this is a strategic deal for the creation of an investment partner fund,” Ukrainian Prime Minister Denys Shmyhal said on Ukrainian television.

“This is truly an equal and good international deal on joint investment in the development and restoration of Ukraine between the governments of the United States and Ukraine.” US President Donald Trump indicated in February that he wanted access to Ukraine’s rare earth materials as a condition for continued US support in the war, describing it as reimbursement for the billions of dollars in aid the US has given to Kyiv.

It wasn’t immediately clear if the Trump administration was also ready to finalise the deal on Wednesday.

Peace will take time, says Kremlin

President Vladimir Putin is open to peace in Ukraine and intense work is going on with the US, but the conflict is so complicated that the rapid progress that Washington wants is difficult to achieve, the Kremlin said on Wednesday. Putin has expressed a willingness for direct talks with Ukraine.