Updated April 30, 2025 at 2:47 PM CDT
KYIV — The United States and Ukraine are poised to sign a comprehensive deal to jointly invest in Ukraine's minerals, raw materials and natural resources that would offer Ukraine some level of long-term U.S. support.
Speaking to Ukraine's ICTV network, Ukrainian Prime Minister Denys Shmyhal said the country's lead negotiator for the deal — Economy Minister Yulia Svyrydenko — is heading to Washington to sign the deal alongside Treasury Secretary Scott Bessent.
Shmyhal said the investment fund would be a 50-50 partnership with the U.S. and would assist Ukraine's reconstruction and development.
"This is a very good partnership agreement that provides for huge benefits and investments for our country, and provides for the possibility of receiving military assistance from the United States," Shmyhal said.
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"The American side can also count new, I repeat, new military aid to Ukraine as a contribution to this fund," he added.
President Trump said it would be a good deal for both Ukraine and the U.S.
He noted that Ukraine has large deposits of rare earth metals, which are key ingredients in batteries and other technologies. "We made a deal where our money is secure, where we can start digging and doing what we have to do. It's also good for them, because you'll have an American presence at the site," Trump said. That presence, he said, "will keep a lot of bad actors out of the country, or certainly out of the area where we're doing the digging."
"Our side is ready to sign," Treasury Secretary Bessent told reporters Wednesday. However, he said, "The Ukrainians decided last night to make some last-minute changes," without providing specifics.
The signing could mark a victory for the Ukrainians after a series of twists and turns in negotiating with the U.S. In February, the Trump administration had pressed Zelenskyy to sign an agreement that gave Ukraine very little and would have used profits to recoup aid the U.S. has already approved for the country.
Zelenskyy refused to sign that agreement. On Feb. 28, President Trump and Vice President Vance publicly berated Zelenskyy in the Oval Office, leaving the deal in limbo.
But both leaders had an opportunity to talk face to face when they attended Pope Francis' funeral in Rome on Saturday. Zelenskyy described it as a "good meeting" in a social media post. White House communications director Steven Cheung told reporters that both leaders "had a very productive discussion" and said more details about the meeting would follow.
Once the deal is signed, it still must be approved by Ukraine parliament.
NPR's Hanna Palamarenko contributed to this report from Kyiv.
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