Ukraine and the United States have agreed on a key nuance in the mineral resources agreement process: assistance provided by the United States before the signing of the document will not be counted towards future financial arrangements
Prime Minister of Ukraine Denys Shmyhal, who recently returned from a visit to the United States, made this important statement after meeting with U.S. Secretary of the Treasury Scott Bessent. According to him, during the negotiations, the parties reached a principled agreement that any aid from the USA granted to Kyiv prior to signing the mineral resources agreement will not be considered in subsequent financial obligations or compensations related to this document. According to a statement released via the Prime Minister's Telegram channel, an important aspect was a separate agreement regarding financial support. During the meeting, the parties intensified the work of legal teams to draft a final version of the document. Ukrainian officials emphasized that significant progress has already been made in agreeing on the details, including clearly defining red lines and outlining the framework to ensure the document's compliance with European standards, the Constitution, and Ukrainian legislation. The main condition was the mandatory ratification of the agreement by the Verkhovna Rada, which is standard procedure for this type of international arrangement. It was also agreed that assistance provided by the United States to Ukraine before the signing of the agreement will not be considered when determining future financial obligations; in other words, this support is separate from the terms of the contract. It is worth recalling that the negotiation process for the mineral resources agreement between Ukraine and the U.S. gained momentum at the end of April. On the 17th of this year, the Ukrainian government and Washington signed a significant memorandum calling for the parties to conclude work on the final agreement. The document envisages the creation of a special Investment Fund for Ukraine’s recovery, which aims to become one of the tools for attracting foreign capital for the reconstruction and reform of the coal industry and other mineral sectors. However, a key condition remains the prevention of conflicts with the European integration course. The memorandum explicitly stated that the discussed document should not hinder Ukraine’s movement towards the European Union and must align with its strategic goals in reform and integration. Another important point was a statement by U.S. President Donald Trump on April 25, urging Ukraine to sign the agreement as quickly as possible, emphasizing the need to accelerate the utilization of national natural resources, including minerals. Thus, the process of concluding the agreement between Ukraine and the United States is currently moving confidently and decisively, with a key aspect being the agreement on separate accounting for assistance. This provides additional guarantees for Ukrainian reforms and ensures transparent cooperation conditions with Washington. For more details on this complex and important agreement for Ukraine, read our article: "Rapid Minerals. What Ukraine and the USA Agreed Upon in the New Memorandum on Minerals."