Prime Minister Denys Shmyhal has clarified that past US financial aid to Ukraine will not be included in the pending minerals and natural resources deal between the two countries. Shmyhal made the statement after a visit to Washington for technical talks with US officials on the long-debated minerals deal, which took place from 24-26 April.
During the visit, Shmyhal met with US Treasury Secretary Scott Bessent to discuss “important political aspects” of the agreement. The Ukrainian delegation and US officials made good progress in their negotiations, according to Shmyhal. He emphasized that the agreement must comply with European obligations, not contradict the Constitution and legislation of Ukraine, be ratified by the Parliament, and not count the assistance provided before its signing.
The US and Ukraine signed a memorandum on the minerals deal on 27 April , and technical talks were completed by 26 April . However, the agreement has not been finalised yet. The deal has been under discussion for months and has faced delays due to concerns it contradicts Ukrainian law and could interfere with Kyiv’s hopes of joining the European Union.
The minerals deal has also caused tension between President Volodymyr Zelensky and former President Donald Trump. Earlier versions of the deal granted the US extensive control over a joint investment fund with no offer of security guarantees in return. Trump has touted the minerals deal as a way for the US to “recoup” aid provided to Ukraine over the course of Russia’s full-scale war.
Deputy Economy Minister and Trade Representative Taras Kachka has stated that the deal would not entail converting previously provided US aid into debt. Instead, the US, as one of the partners, will earn at least as much from the activities of this fund as the aid provided. Shmyhal did not specify a date on which he expects the deal to be signed.
