Ukraine ready to sign US minerals agreement as early as 30 April, Bloomberg says

Ukraine is ready to sign a minerals deal with the United States, which may happen as early as Wednesday 30 April.

Source: Bloomberg, citing sources, as reported by European Pravda

Details: The draft agreement, which envisages the establishment of a joint fund to manage investment projects in Ukraine, has been finalised and could be signed as early as Wednesday, said a source who wished to remain anonymous as the negotiations are closed.

Ukraine's Economy Minister Yuliia Svyrydenko has left for Washington to sign the agreement, the sources added.

According to a draft document seen by Bloomberg News, the agreement stipulates that the US and Ukraine will work to "increase investment in mining, energy and related technology in Ukraine". Washington also acknowledges Kyiv's intention to finalise a deal that aligns with its aspirations to join the European Union, a point that has long been regarded as a red line in the negotiations.

In a further breakthrough, the US has agreed that only future military aid provided after the agreement is signed will count towards its contribution to the joint fund, according to the document. Ukrainian Prime Minister Denys Shmyhal stated on Sunday that Washington had dropped its demand to include the tens of billions of dollars in assistance already delivered since the start of Russia’s full-scale invasion of Ukraine.

Under the document, the deal "strengthens the strategic partnership between the Parties for the long-term reconstruction and modernisation of Ukraine, in response to the large-scale destruction caused by Russia’s full-scale invasion".

The source noted that two additional technical agreements, which will outline the joint fund's operational framework, are still being finalised.

Read also: Speedy deal, strategic gains: inside the US-Ukraine mineral agreement timeline

Background: 

• On 17 April, Ukraine and the United States signed a memorandum of intent to "finalise a formal agreement on economic partnership and a recovery investment fund".
• According to the memorandum, the agreement will create the Investment Fund for Ukraine's recovery, while the work on the deal cannot conflict with Kyiv's European integration path.

Support Ukrainska Pravda on Patreon!