Ukraine will send delegation to Washington for talks on minerals deal – Ukraine's economy minister

A Ukrainian delegation will travel to Washington this week for technical negotiations regarding a new draft of the valuable mineral resources deal between Ukraine and the US.

Source: Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Ukrainian Economy, in an interview with Associated Press

Details: Svyrydenko stated that the objective of the visit will be to commence negotiations regarding a new draft of the deal proposed by the United States. The Ukrainian delegation will include representatives from the ministries of economy, foreign affairs, justice and finance.

"The new draft agreement from the US shows that the intention to create a fund or jointly invest remains," Svyrydenko said. 

"Ukrainian officials have been cautious about commenting on the contents of the draft, stressing that it currently reflects only one side's position," the AP article noted. 

"What we have now is a document that reflects the position of the US Treasury legal team," Svyrydenko noted. "This is not a final version, it's not a joint position," she added.

Svyrydenko stated that Ukraine's task is to assemble a technical team for negotiations, identify its "red lines" and core principles and then send a delegation to Washington for technical talks next week.

"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," Svyrydenko stressed. 

Svyrydenko said that legal, investment and financial advisers are currently being selected. 

"This marks a new stage in relations with the United States – one that requires expertise across multiple areas. Ultimately, everything will be decided through the course of negotiations," Svyrydenko noted. 

Svyrydenko refused to publicly remark on Ukraine's official evaluation of the new draft but mentioned that a more detailed document that outlines the fund's creation now exists. And while the initial draft focused mainly on the intention to establish the fund, the latest version, according to Svyrydenko, lays out how US advisers envision its structure and operation.

Quote from The Associated Press: "It remains unclear what role Ukraine would play in managing the fund under the newly proposed US draft. However, analysts who reviewed the leaked document said Kyiv's involvement would likely be minimal – a point Ukraine hopes to challenge in upcoming negotiations, using the previously agreed framework as its reference."

Quote from Svyrydenko: "We're very focused on ensuring that the final draft of the agreement, after negotiations, fully aligns with our strategic interests. 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."

Background: 

• On 28 February 2025, Ukrainian President Volodymyr Zelenskyy and US President Donald Trump failed to sign the minerals agreement. During Trump and Zelenskyy's joint press conference, a spat broke out between the presidents. Following the argument, Zelenskyy left the White House ahead of schedule. 
• On 27 March, MP Yaroslav Zhelezniak reported that the US had sent Ukraine a new draft of the minerals deal that needs to be reviewed and ratified by the Verkhovna Rada (the Ukrainian parliament) soon. 
• On 28 March, President Zelenskyy stated that Ukraine had received a new version of the agreement and insisted that Ukraine would not recognise past US assistance as debt.
• Last week, US President Donald Trump warned that Zelenskyy would face "big problems" if he rejected the mineral deal.
• It was reported on 5 April that President Volodymyr Zelenskyy had directed the Security Service of Ukraine (SSU) to investigate the leak of the latest US proposal for profiting from Ukrainian assets. 

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