US-Ukraine minerals deal could be signed within days

Ukraine and the United States could sign a long-awaited minerals agreement as early as this week, after Kyiv announced that previous US military aid would not be counted against the terms of the new deal.

“It was agreed that assistance provided prior to the signing of the agreement will not be counted towards it,” Ukrainian Prime Minister Denys Shmyhal wrote on his Telegram channel on Sunday night, according to the Financial Times. He added legal teams were finalizing the document and noted that Ukraine’s “red lines” had been clearly defined.

The agreement’s momentum follows a brief meeting between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy at St. Peter’s Basilica on Saturday, ahead of Pope Francis’ funeral. The White House described the 15-minute conversation as “very productive,” while Zelenskiy called it “very symbolic” and said it had the “potential to become historic.”

Negotiations have been fraught. A signing ceremony for an earlier version of the agreement collapsed in February after a public clash between Trump and Zelensky in the Oval Office.

Signs of progress resurfaced Friday when Trump posted on Truth Social that the rare earths deal was “at least three weeks late” but hoped Ukraine would sign it “IMMEDIATELY.” He also claimed peace talks between Ukraine and Russia were advancing “smoothly”.

Senior Ukrainian officials told the Financial Times that the framework agreement covers all mineral resources, including oil, gas, and major energy assets across Ukraine.

A draft signed earlier this month would grant the US access to Ukraine’s critical mineral deposits — which include graphite, lithium, titanium, uranium, and rare earth elements vital to high-tech industries. 

Under the partnership, Kyiv would be required to channel all income from natural resource exploitation into a joint investment fund controlled by Washington, with the US holding first claim on profits. Ukraine has pushed for improved terms, including security guarantees, and successfully resisted efforts to recognize previous US aid as a form of debt.