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Ukraine war briefing: US and Kyiv ‘ready to sign’ minerals deal amid uncertainty over last-minute hurdles Ukraine war briefing: Ukrainian leaders lay out details of long-awaited minerals deal with US
(about 4 hours later)
Ukraine’s first deputy PM travels to Washington to sign deal as later reports claim US pushing Ukraine to sign extra documents Kyiv felt were not ready Ukrainian prime minister Denys Shmyhal says a new reconstruction and investment fund will be split 50-50 between his country and the US. What we know on day 1,163
Ukraine and the US said they were ready to sign a minerals deal, amid reports that a last-minute obstacle injected uncertainty into the timing. “Our side is ready to sign. The Ukrainians decided last night to make some last-minute changes,” US treasury secretary Scott Bessent told reporters. “We’re sure that they will reconsider that and we are ready, if they are.” Kyiv and Washington have signed a deal that would share future revenues from Ukraine’s minerals, with the US to keep military aid flowing to the country, as well as US investment into its defence and reconstruction. Ukrainian prime minister Denys Shmyhal shared details of the deal, saying a new reconstruction and investment fund would be split 50-50 between Kyiv and the US, and give each side equal voting rights.
Ukraine’s first deputy prime minister, Yulia Svyrydenko, is on her way to the US to sign the minerals deal, according to a senior source in the Ukrainian presidency. Ukraine’s prime minister, Denis Shmyhal, said on Wednesday that the reworked deal would be signed within the next 24 hours and would have to be ratified by the Ukrainian parliament. The deal would relate only to new investments, Shmyhal said, meaning it would not provide for any debt obligations against Ukraine, a key concern for Kyiv. Ukraine would retain “full control over its mineral resources, infrastructure and natural resources,” Shmyhal added. The deal would ensure revenue by establishing contracts on a “take-or-pay” basis, Shmyhal said.
But later reports claimed the US was pushing Ukraine to sign additional documents, but that Kyiv felt they were not ready yet. The Trump administration urged Ukraine to sign all three documents connected to the deal, Politico reported. A source told the outlet: “All three documents need to be signed today, but the Ukrainians are trying to reopen terms which have already been agreed upon as part of the package — this will be up to the Ukrainians, as the US is ready to sign. The US told Svyrydenko not to travel to Washington on Wednesday unless the agreements were finalised, according to the outlet. Ukraine’s first deputy prime minister, Yulia Svyrydenko, said there would be no changes to ownership of state-owned companies, including Ukrnafta, Ukraine’s largest oil producer, and nuclear energy producer Energoatom. Income and contributions to the fund would not be taxed in the US or Ukraine, she said, “to make investments yield the greatest results”.
Vladimir Putin said some small groups of Ukrainian soldiers were still holed up in basements and hideouts in Russia’s western Kursk region. Speaking at an event in Moscow on Wednesday, the Russian leader said radio intercepts suggested that the few Ukrainians left behind were asking commanders to urgently evacuate them to safety. Meanwhile, Vladimir Putin said some small groups of Ukrainian soldiers were still holed up in basements and hideouts in Russia’s western Kursk region. Speaking at an event in Moscow on Wednesday, the Russian president claimed radio intercepts suggested that the few Ukrainians left behind were asking commanders to evacuate them.
The EU is preparing a “plan B” on how to keep economic sanctions against Russia should the US abandon Ukraine peace talks and seek rapprochement with Moscow, according to the bloc’s top diplomat, Kaja Kallas. “We see signs that they are contemplating whether they should leave Ukraine and not try to get a deal with the Russians because it’s hard,” Kallas told the Financial Times.The EU is preparing a “plan B” on how to keep economic sanctions against Russia should the US abandon Ukraine peace talks and seek rapprochement with Moscow, according to the bloc’s top diplomat, Kaja Kallas. “We see signs that they are contemplating whether they should leave Ukraine and not try to get a deal with the Russians because it’s hard,” Kallas told the Financial Times.
The Kremlin claimed Putin was open to peace despite its continuing aggression on Ukraine, but stressed that the conflict is so complicated that the rapid progress that Washington wants is difficult to achieve, Reuters reported.
Russia and North Korea have begun construction of a road bridge between the two countries as part of an effort to strengthen their strategic partnership, Russia’s prime minister, Mikhail Mishustin, said. It comes after South Korean lawmakers said about 600 North Korean troops have been killed fighting for Russia against Ukraine.Russia and North Korea have begun construction of a road bridge between the two countries as part of an effort to strengthen their strategic partnership, Russia’s prime minister, Mikhail Mishustin, said. It comes after South Korean lawmakers said about 600 North Korean troops have been killed fighting for Russia against Ukraine.
Volodymyr Zelenskyy and Canada’s prime minister, Mark Carney, held a call on Wednesday during which the Ukrainian leader congratulated Carney on his victory in the Canadian federal elections on Monday. Zelenskyy, in a post on X, said he and Carney discussed steps that could “bring us closer to a full, unconditional ceasefire and a dignified peace.” Kyiv and Washington have signed a deal that would share future revenues from Ukraine’s minerals, with the US to keep military aid flowing to the country, as well as US investment into its defence and reconstruction. Ukrainian prime minister Denys Shmyhal shared details of the deal, saying a new reconstruction and investment fund would be split 50-50 between Kyiv and the US, and give each side equal voting rights.
The Kremlin claimed that president Vladimir Putin was open to peace despite its continuing aggression on Ukraine, but stressed that the conflict is so complicated that the rapid progress that Washington wants is difficult to achieve, Reuters reported. Kremlin spokesperson Dmitry Peskov insisted that Putin “remains open to political and diplomatic methods of resolving this conflict” started by Russia. But news agency TASS quoted Peskov as saying that the root causes of the war were too complex to be resolved in one day. After the Kremlin’s remark, Ukrainian foreign minister Andrii Sybiha said Kyiv was ready for peace talks in any format if Moscow signed up to an unconditional ceasefire, Reuters noted. The deal would relate only to new investments, Shmyhal said, meaning it would not provide for any debt obligations against Ukraine, a key concern for Kyiv. Ukraine would retain “full control over its mineral resources, infrastructure and natural resources,” Shmyhal added. The deal would ensure revenue by establishing contracts on a “take-or-pay” basis, Shmyhal said.
Ukraine and the US said they were ready to sign a minerals deal, amid reports that a last-minute obstacle injected uncertainty into the timing. “Our side is ready to sign. The Ukrainians decided last night to make some last-minute changes,” US treasury secretary Scott Bessent told reporters. “We’re sure that they will reconsider that and we are ready, if they are.” Ukraine’s first deputy prime minister, Yulia Svyrydenko, said there would be no changes to ownership of state-owned companies, including Ukrnafta, Ukraine’s largest oil producer, and nuclear energy producer Energoatom. Income and contributions to the fund would not be taxed in the US or Ukraine, she said, “to make investments yield the greatest results”.
Ukraine’s first deputy prime minister, Yulia Svyrydenko, is on her way to the US to sign the minerals deal, according to a senior source in the Ukrainian presidency. Ukraine’s prime minister, Denis Shmyhal, said on Wednesday that the reworked deal would be signed within the next 24 hours and would have to be ratified by the Ukrainian parliament. Meanwhile, Vladimir Putin said some small groups of Ukrainian soldiers were still holed up in basements and hideouts in Russia’s western Kursk region. Speaking at an event in Moscow on Wednesday, the Russian president claimed radio intercepts suggested that the few Ukrainians left behind were asking commanders to evacuate them.
But later reports claimed the US was pushing Ukraine to sign additional documents, but that Kyiv felt they were not ready yet. The Trump administration urged Ukraine to sign all three documents connected to the deal, Politico reported. A source told the outlet: “All three documents need to be signed today, but the Ukrainians are trying to reopen terms which have already been agreed upon as part of the package — this will be up to the Ukrainians, as the US is ready to sign. The US told Svyrydenko not to travel to Washington on Wednesday unless the agreements were finalised, according to the outlet.
Vladimir Putin said some small groups of Ukrainian soldiers were still holed up in basements and hideouts in Russia’s western Kursk region. Speaking at an event in Moscow on Wednesday, the Russian leader said radio intercepts suggested that the few Ukrainians left behind were asking commanders to urgently evacuate them to safety.
The EU is preparing a “plan B” on how to keep economic sanctions against Russia should the US abandon Ukraine peace talks and seek rapprochement with Moscow, according to the bloc’s top diplomat, Kaja Kallas. “We see signs that they are contemplating whether they should leave Ukraine and not try to get a deal with the Russians because it’s hard,” Kallas told the Financial Times.The EU is preparing a “plan B” on how to keep economic sanctions against Russia should the US abandon Ukraine peace talks and seek rapprochement with Moscow, according to the bloc’s top diplomat, Kaja Kallas. “We see signs that they are contemplating whether they should leave Ukraine and not try to get a deal with the Russians because it’s hard,” Kallas told the Financial Times.
The Kremlin claimed Putin was open to peace despite its continuing aggression on Ukraine, but stressed that the conflict is so complicated that the rapid progress that Washington wants is difficult to achieve, Reuters reported.
Russia and North Korea have begun construction of a road bridge between the two countries as part of an effort to strengthen their strategic partnership, Russia’s prime minister, Mikhail Mishustin, said. It comes after South Korean lawmakers said about 600 North Korean troops have been killed fighting for Russia against Ukraine.Russia and North Korea have begun construction of a road bridge between the two countries as part of an effort to strengthen their strategic partnership, Russia’s prime minister, Mikhail Mishustin, said. It comes after South Korean lawmakers said about 600 North Korean troops have been killed fighting for Russia against Ukraine.
Volodymyr Zelenskyy and Canada’s prime minister, Mark Carney, held a call on Wednesday during which the Ukrainian leader congratulated Carney on his victory in the Canadian federal elections on Monday. Zelenskyy, in a post on X, said he and Carney discussed steps that could “bring us closer to a full, unconditional ceasefire and a dignified peace.”
The Kremlin claimed that president Vladimir Putin was open to peace despite its continuing aggression on Ukraine, but stressed that the conflict is so complicated that the rapid progress that Washington wants is difficult to achieve, Reuters reported. Kremlin spokesperson Dmitry Peskov insisted that Putin “remains open to political and diplomatic methods of resolving this conflict” started by Russia. But news agency TASS quoted Peskov as saying that the root causes of the war were too complex to be resolved in one day. After the Kremlin’s remark, Ukrainian foreign minister Andrii Sybiha said Kyiv was ready for peace talks in any format if Moscow signed up to an unconditional ceasefire, Reuters noted.