US and Ukraine finalize natural resources deal to boost economic ties: Report

US and Ukraine finalize natural resources deal to boost economic ties

Ukraine and the United States are set to sign a natural resources deal, a move that is expected to strengthen their economic partnership, sources told Bloomberg.

The draft agreement, which establishes a joint fund to manage Ukraine's investment projects, has been finalized and could be signed as soon as Wednesday, source told Bloomberg on the condition of anonymity. They further mentioned that Ukrainian Economy Minister Yulia Svyrydenko is on her way to Washington to sign the document.

According to the draft document obtained by Bloomberg News, the U.S. and Ukraine will collaborate to create conditions that will "increase investment in mining, energy, and related technologies in Ukraine."

The US has recognized that Kyiv is prepared to reach an agreement that aligns with its European Union membership aspirations, which has long been a key concern in the negotiations.

In another significant development, the U.S. has agreed that only future military aid to Ukraine, following the deal's signing, will count toward its contribution to the fund, as outlined in the document. Ukrainian Prime Minister Denys Shmyhal confirmed on Sunday that the U.S. has dropped its previous demand to include the tens of billions of dollars in aid provided since the start of Russia's invasion in the agreement.

“Strengthens the strategic partnership between the Parties for the long-term reconstruction and modernization of Ukraine, in response to the large-scale destruction caused by Russia’s full-scale invasion,” as per the document.

The US Treasury Department did not respond to a comment request. US and Ukrainian officials signed a memorandum in April and are finalizing details of a deal that would give the US first claim on profits in a reconstruction fund controlled by Washington.

A previous attempt to finalize the agreement stalled after clashes between President Zelenskiy, Trump, and Vice President Vance. Meanwhile, Russia intensified attacks along Ukraine’s frontline, with Putin insisting on full control of four regions.

White House Press Secretary Karoline Leavitt confirmed Trump is frustrated by the stalled peace talks but remains hopeful a deal can be reached.

President Trump, frustrated by delays in securing a ceasefire in the ongoing war, has questioned whether Vladimir Putin is willing to move forward with a peace plan he hoped to achieve within his first 100 days. Despite this, the White House expressed confidence on Tuesday that a deal on critical minerals with Ukraine will soon be signed.

(With agency inputs)