Ukraine announced on Thursday that it had signed a memorandum of intent with the United States, marking the first step towards a broader agreement focused on the development of Ukraine’s mineral resources. The potential deal is part of a U.S.-backed initiative promoted by President Donald Trump to secure privileged access to critical minerals.
The two nations were initially expected to finalize the agreement in February. However, the signing was postponed following a tense Oval Office meeting between President Trump and Ukrainian President Volodymyr Zelenskiy, which reportedly escalated into a heated exchange.
Despite that incident, Ukraine’s First Deputy Prime Minister and Economy Minister, Yulia Svyrydenko, confirmed the signing via social media, describing it as a positive milestone in bilateral relations.
She explained that the memorandum outlines intentions for future economic cooperation and includes plans to establish an investment fund dedicated to Ukraine’s post-war reconstruction.
The move signals Kyiv’s efforts to mend ties with Washington, recognizing the strategic importance of U.S. support amid Russia’s full-scale invasion that began in 2022. Ukrainian officials have emphasized that the minerals partnership is a key element of their ongoing collaboration with the U.S.
President Trump told reporters the actual agreement could be finalized as early as next week, though Ukraine has yet to confirm a timeline. Treasury Secretary Scott Bessent, speaking alongside Trump, noted that an 80-page comprehensive deal—based on earlier understandings—was nearly ready for signature.
Talks resumed after a Ukrainian delegation traveled to Washington last week to discuss a broader framework, which had previously been agreed upon but not formalized.
Zelenskiy said the memorandum could be signed electronically and framed it as a step reflecting “positive, constructive intentions.” He acknowledged that while this memorandum does not yet constitute a final agreement, it is part of a larger process that will eventually require parliamentary ratification in Ukraine.
Svyrydenko described the document as a way to officially recognize the progress made in ongoing discussions, further deepening strategic economic ties between the two countries.
