WASHINGTON/KIEV (Agencies): The United States and Ukraine have signed a preliminary Memorandum of Intent outlining a rare-earths deal, paving the way for an Economic Partnership Agreement and the establishment of an Investment Fund for the Reconstruction of Ukraine. The final agreement is expected to be sealed next week, according to US President Donald Trump.
The announcement was made by Ukraine’s First Deputy Prime Minister and Minister of Economy, Yulia Sviridenko, who described the memorandum as a result of professional negotiations between the two sides. She emphasized the potential benefits for both countries, stating, “The current pace and significant progress give reason to expect that the document will be very beneficial for both countries.”
The deal, which has been under discussion for weeks, would grant the US access to Ukraine’s deposits of rare-earth minerals. The Trump administration views the agreement as a way to recoup financial losses from past aid provided to Ukraine during its conflict with Moscow. However, Kiev has maintained that US assistance was unconditional.
Earlier reports indicated that the US had reduced its assessment of aid to Ukraine from over $300 billion to around $100 billion, with the rare-earths deal seen as a tool to recover some of these costs. The agreement also aims to strengthen economic ties and support Ukraine’s reconstruction efforts.
The memorandum marks a significant step in bilateral relations, despite earlier tensions between President Trump and Ukrainian President Vladimir Zelensky. The deal underscores the strategic importance of rare-earth minerals and the growing cooperation between Washington and Kiev.