The United States and Ukraine have signed an intention protocol in order to finalize a “formal agreement on the investment fund for economic partnership and reconstruction”, concerning the exploitation of minerals, according to a document seen by Euronews.
The document of a page, signed by the first Ukrainian Deputy Prime Minister Yulia Svyrydenko and the US Treasury Secretary Scott Bessent Thursday evening, indicates that a series of key negotiations will occur in Washington between April 21 and 26.
At that time, it is planned that the two parties will have concluded a general agreement to finally sign the agreement.
“Without prejudice to any remaining political or legal procedure required to complete the arrangement, Prime Minister Ukraine Shmyhal will visit Washington DC The week of April 21, 2025 to meet the US Treasury Secretary Bessent and will provide high -level support to the conclusion of technical discussions on the terms of an agreement establishing an investment fund,” said the document.
“The negotiation teams should report on progress by April 26, 2025, in order to complete the discussions on this date and the signature as soon as possible.”
The document also describes the possible conflicts that the agreement can create with the European Union and that the United States does not interfere in such a case.
“The United States respects Ukraine's intention to avoid conflicts in the drafting of the agreement with the obligations of Ukraine under the membership of the European Union or agreements with international financial institutions and other official creditors,” said the document.
Tensions between the United States and Ukraine
Relations between Ukraine and the United States have been embittered since US President Donald Trump began negotiations with Russian officials to end the war, the Ukrainian President of Volodymyr Zelenskyy currency.
A meeting between Zelenskyy and Trump in the oval office in February has become a cries match, accusing the Ukrainian president of not being grateful enough for American support.
Meanwhile, Secretary of State Marco Rubio was in Paris on Thursday to discuss a wide range of questions with the European allies, including the war in Ukraine.
On Friday, he told the press that if no progress was made on peace in the coming days, Washington could abandon peace talks.
What is in the agreement?
At the end of March, Bloomberg and the Financial Times revealed that the details on the latest version of the mineral agreement proposed by the White House, which would see Washington obtaining unprecedented control over Ukraine's natural resources thanks to a joint investment fund.
Under the project, the fund's board of directors would include five members: three appointed by the United States and two appointed by Ukraine.
In practice, this would give Washington an effective veto of veto on key decisions concerning new infrastructure projects and natural resources.
The roads, the railways, the ports, the mines, the oil, the gas and the extraction of critical minerals would all fall within the reach of the new structure.
ADVERTISEMENTUkraine would be obliged to present all new projects to the fund for exams “as soon as possible,” Bloomberg reported. If the project was refused, Ukraine would be prevented from offering it to other parties with “materially better” conditions.
In addition, the United States would have the right to collect all of the fund's profits and an annual return of 4% until the military and financial aid which was provided to Ukraine is fully recovered.
The Kiel Institute for the World Economy estimates that US support has been worth 114 billion euros since the start of the Russia's large -scale invasion.
The “Payback” model was at the heart of Donald Trump's motivation to sign the agreement.
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