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Details in the minerals deal follow months of sometimes fraught negotiations between Ukraine and the US
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Ukraine’s deputy prime minister has revealed key details of the ‘historic’ minerals deal which was reached on Wednesday, following months of sometimes fraught negotiations.
Yulia Svyrydenko, who signed the agreement alongside US Treasury Secretary Scott Bessent in Washington, says the agreement would have knock-on effects for Ukraine.
Through the deal, the countries will create a joint fund to invest in Ukraine’s reconstruction, with a draft saying Washington would get preferential access to new Ukrainian resource deals.
“It is important that the agreement will become a signal to other global players that it is reliable to cooperate with Ukraine in the long term – for decades,” Ms Svyrydenko said.
The deal comes as overnight attacks killed several people. Russian drone strikes on the Black Sea port city of Odesa in the early hours of Thursday killing two and injuring 15, emergency services said. Russia also reported that Ukrainian strikes in the Russian-controlled part of Kherson killed seven.
Earlier, Ukraine’s top military commander Oleksandr Syrskyi has said Russian forces have significantly increased the intensity of fighting in eastern Ukraine as Vladimir Putin is publicly talking about wanting a ceasefire.
Insiders have revealed details of the Vatican exchange between the two world leaders, and how it may have helped create a diplomatic breakthrough and boost Ukraine’s fortunes in the ongoing war with Russia.
World affairs editor Sam Kiley explains what the deal means.
US secretary of state Marco Rubio has joined the chorus of praise for the US-Ukraine minerals deal.
“Thanks to @POTUS’s leadership, today the US and Ukraine signed the Reconstruction Investment Fund Agreement—a milestone in our shared prosperity and an important step in ending this war,” he wrote on X.
The deal was also hailed as a “milestone” by Ukraine’s foreign minister earlier today.
Ukraine has published in full the reconstruction investment fund agreement, which was signed after two months of negotiations between the Kyiv and the US.
In it, the countries acknowledge that the US “has provided significant financial and material support to Ukraine since Russia’s full-scale invasion of Ukraine in February 2022”.
It also states that the American people “desire to invest alongside Ukraine in a free, sovereign, and secure Ukraine”, and the US and Ukraine both want “a lasting peace in Ukraine and a durable partnership between their two peoples and governments”.
We are going through the full text of the agreement, and will bring you more detail shortly.
Sir Keir Starmer has welcomed the US and Ukraine signing an economic partnership under which the US will provide support for the war-torn country.
Asked about the deal, the prime minister’s official spokesman said: “We welcome steps taken by the US and Ukraine to sign an economic partnership.
“I think the Ukrainian foreign minister has said it’s an important milestone.
“And as you know, we have our own 100-year partnership, which the prime minister signed in January with Ukraine, and we’re continuing to work with Ukraine to deepen our economic and security ties for future generations of both of our countries.”
The spokesman said it signals clearly to Russia that the Trump administration is committed to a peace process “centred on a free, sovereign and prosperous Ukraine over the long term”.
Treasury Secretary Scott Bessent says the new US-Ukraine minerals deal shows there is “no daylight” between the goals of the two countries.
In an interview on Thursday, Bessent said the deal was full economic partnership that will allow President Donald Trump to negotiate with Russia on a stronger basis.
The deal will show “Russian leadership that there is no daylight between the Ukrainian people and the American people, between our goals,” Bessent said in an interview with Fox Business Network.
Downing Street has welcomed US Treasury Secretary Scott Bessent’s description of “Russia’s full scale invasion”.
After a significant change in tone on the conflict from Donald Trump’s administration, showing significantly more support for Ukraine, Sir Keir Starmer’s official spokesman said the description used by Mr Bessent was “very important”.
The spokesman said: “We’ve always been very clear where the fault in this illegal invasion lies, and the fact that this war could come to an end today, if President Putin rolled back his troops.”
Ukraine’s foreign minister Andrii Sybiha has hailed the US minerals deal as a “milestone agreement”.
Mr Sybiha said he spoke with the European Union’s vice president and top foreign affairs official Kaja Kallas about the deal.
“This marks an important milestone in Ukraine–US strategic partnership aimed at strengthening Ukraine’s economy and security,” he said on social media on Thursday.
“We discussed recent diplomatic efforts and the next steps to achieve a fair and lasting peace.”
Mr Sybiha said the pair also discussed the EU and Ukraine agenda.
“We also exchanged updates on the preparations for the EU foreign ministers’ visit to Ukraine on May 9th. Grateful to the EU for its solidarity and steadfast support,” Mr Sybiha said.
Emergency workers put out fires and helped civilians from damaged apartment buildings following a Russian strike on the Ukrainian port city of Odesa overnight.
Volodymyr Zelensky has repeated his regular call for greater pressure on Russia to end the war.
“Continued pressure on Russia is essential to force it into silence and negotiations,” the Ukrainian president said.
“The more effective the sanctions, the more incentives Russia will have to end the war. The stronger Ukraine’s defence and our Air Defence Forces are, the more lives we will be able to save — and the sooner we will be able to guarantee lasting security. I thank everyone around the world who is helping.”
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Ukraine war latest: Kyiv minister reveals key details in Trump mineral deal – The Independent
