Ukraine announced that they have made “significant progress” in the mineral agreement that caused a dispute between US President Trump and Ukrainian leader Zelensky.

Ukrainian Deputy Prime Minister Yuliya Svyrydenko declared that Ukraine and the US have made “significant progress” on an agreement regarding mineral resources and will soon sign a memorandum of understanding. President Donald Trump sees this agreement as a way to support Ukraine’s efforts to end the war against Russia’s occupation as well as to offset the billions of dollars in military aid provided by the US to Ukraine. Ukrainian President Volodymyr Zelensky had previously stated that they would not consider the past US military aid as credit or debt. Svyrydenko shared on X platform, “Our technical teams worked extensively on the agreement, making significant progress. Our legal teams revised several clauses in the draft agreement.” Both sides have agreed to continue their efforts and sign a memorandum of understanding soon to document the progress made. “NOT YET A FINAL AGREEMENT”

Ukrainian Deputy Minister of Economy Taras Kachka stated in a television interview that negotiations were progressing, and it is likely that a memorandum of understanding, as a temporary document, will be signed shortly. However, he emphasized that a final agreement will not be signed this week as the ideas proposed by the US need further development. According to Bloomberg, the US has reduced the cost of the aid provided to Ukraine after the conflict starting in 2022 from $300 billion to approximately $100 billion. NEW OFFER FROM THE TRUMP ADMINISTRATION

Last month, the Trump administration proposed a more comprehensive mineral agreement that does not include any guarantees on Ukraine’s security but requires both the state and private sector to transfer mineral revenues to a joint investment fund. Svyrydenko mentioned that the future agreement will need to be approved in the Ukrainian parliament and said it would contribute to economic growth for both countries:

“This agreement will create investment and development opportunities in Ukraine and establish concrete conditions for economic growth for both Ukraine and the US.”