Ukraine is racing to seal a landmark minerals pact with the U.S. by next week, hoping to lock in Washington’s wavering support amid its grinding war with Russia. A Memorandum of Intent signed Thursday sets an April 26 deadline for finalizing the deal, which could grant American firms exclusive access to Ukraine’s rare earths, lithium, and gas transit infrastructure—partly as repayment for billions in military aid.
Deal Terms: What’s at Stake
- Privileged U.S. access to Ukraine’s mineral wealth (graphite, titanium, uranium) and energy transit routes.
- Joint investment fund: Kyiv may funnel revenue from state/private resource projects into a U.S.-backed reconstruction fund.
- No security guarantees: The deal won’t commit Washington to defend Ukraine against Russia, a key omission for Kyiv.
Political Tightrope
- Trump’s leverage: The U.S. president framed the deal as “repayment” for past aid, criticizing Biden’s assistance as “a bad deal.”
- Repairing ties: Talks accelerated after a February blowup between Trump and Zelensky, which froze intelligence sharing temporarily.
- Ukrainian dissent: Some lawmakers, like Inna Sovsun, warn the pact exploits Ukraine’s vulnerability: “It feels like another country is using our crisis.”
Why It Matters
- Resource security: Ukraine holds critical minerals for tech/defense industries amid U.S.-China competition.
- War footing: With 20% of territory occupied, Kyiv trades resources to sustain Western arms flows.
- Global signal: A deal could reassure allies of U.S. commitment despite Trump’s pro-Moscow leanings.
What’s Next?
- April 26 deadline: Ukrainian PM Denys Shmyhal will meet U.S. Treasury Secretary Scott Bessent next week to iron out terms.
- Ratification hurdle: Ukraine’s parliament must approve the final deal—no guarantee amid nationalist opposition.
- Risk of backlash: If terms appear one-sided, Zelensky could face domestic fury over “selling out” resources.
Ukraine Nears U.S. Minerals Deal Within a Week, Seeks to Bolster Waning Support