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Hind Al Soulia - Riyadh - KYIV — Ukraine will send a delegation to Washington next week to begin negotiations on a new U.S.-proposed draft agreement granting access to Ukraine’s critical mineral resources, Economy Minister Yuliia Svyrydenko said Saturday.
“The new draft agreement from the U.S. shows that the intention to create a fund or jointly invest remains,” Svyrydenko told The Associated Press during a visit to northern Ukraine.
The Ukrainian team, comprising representatives from the Economy, Foreign Affairs, Justice, and Finance Ministries, will hold in-person talks to define Kyiv’s red lines and outline the technical aspects of the agreement.
The new U.S. draft — which surfaced after a stalled February signing due to a tense Oval Office meeting between Presidents Donald Trump and Volodymyr Zelenskyy — expands beyond rare-earth elements to include gas and oil, raising concerns in Kyiv over sovereignty and resource control.
Leaked details of the document prompted backlash from some Ukrainian lawmakers, who argued the agreement could undermine national authority over critical infrastructure and natural assets.
While Ukrainian officials maintain the deal is key to securing U.S. support amid Russia’s ongoing invasion, Svyrydenko emphasized that the latest draft is not final and currently reflects only the legal position of the U.S. Treasury.
“It’s not a joint position,” she said. “It’s clear that the full parameters of this agreement can’t be discussed online. We need to sit down with the teams and continue the conversation in person.”
Ukraine holds sizable deposits of over 20 strategically vital minerals, including titanium, lithium, and uranium — resources Washington sees as essential to global supply chains and national security.
A previous framework agreement envisioned a jointly owned U.S.-Ukraine investment fund, with 50% of future revenues from national extractive assets directed toward rebuilding Ukraine’s war-damaged economy. That version, however, was never signed.
Svyrydenko noted that the new draft offers more specific details on how the fund would be structured and operated, though Ukraine’s role in managing it remains unclear.
“We’re very focused on ensuring that the final draft fully aligns with our strategic interests,” she said. “I believe the work on the previous memorandum showed that both teams are capable of reaching these goals and agreeing on terms acceptable to both sides.” — Agencies
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