This article is from the source 'bbc' and was first published or seen on . The next check for changes will be

You can find the current article at its original source at https://www.bbc.com/news/articles/c5ypw7pn9q3o

The article has changed 9 times. There is an RSS feed of changes available.

Version 7 Version 8
US and Ukraine sign long-awaited natural resources deal US and Ukraine sign long-awaited natural resources deal
(about 2 hours later)
US Treasury Secretary Scott Bessent (l) and Ukraine's First Deputy Prime Minister Yulia Svyrydenko (r) sign the natural resources dealUS Treasury Secretary Scott Bessent (l) and Ukraine's First Deputy Prime Minister Yulia Svyrydenko (r) sign the natural resources deal
The US has signed a deal with Kyiv to share profits from the future sale of Ukraine's mineral and energy reserves, after months of tense negotiations.The US has signed a deal with Kyiv to share profits from the future sale of Ukraine's mineral and energy reserves, after months of tense negotiations.
The deal aims to provide an economic incentive for the US to continue to invest in Ukraine's defence and reconstruction - as well as to address Washington's concerns over the amount of aid it has already contributed.The deal aims to provide an economic incentive for the US to continue to invest in Ukraine's defence and reconstruction - as well as to address Washington's concerns over the amount of aid it has already contributed.
Ukraine is believed to have vast reserves of critical minerals like graphite, titanium and lithium. They are highly sought after because of their use in renewable energy, military technology and infrastructure.Ukraine is believed to have vast reserves of critical minerals like graphite, titanium and lithium. They are highly sought after because of their use in renewable energy, military technology and infrastructure.
US Treasury Secretary Scott Bessent said it showed both sides were committed to lasting peace and prosperity in Ukraine.US Treasury Secretary Scott Bessent said it showed both sides were committed to lasting peace and prosperity in Ukraine.
The deal will also see the establishment of an investment fund to spur Ukraine's economic recovery from the war.The deal will also see the establishment of an investment fund to spur Ukraine's economic recovery from the war.
According to the statement from the US Treasury on Wednesday afternoon, the newly created US-Ukraine Reconstruction Investment Fund recognises the "significant financial and material support" the US has given Ukraine since Russia invaded in February 2022.According to the statement from the US Treasury on Wednesday afternoon, the newly created US-Ukraine Reconstruction Investment Fund recognises the "significant financial and material support" the US has given Ukraine since Russia invaded in February 2022.
The US treasury secretary said in a video statement that the deal would help "unlock Ukraine's growth assets".The US treasury secretary said in a video statement that the deal would help "unlock Ukraine's growth assets".
The language of the announcement shows much more solidarity with Ukraine than is usual for the Trump administration.The language of the announcement shows much more solidarity with Ukraine than is usual for the Trump administration.
It refers to "Russia's full scale invasion" and adds that "no state or person who financed or supplied the Russian war machine will be allowed to benefit from the reconstruction of Ukraine".It refers to "Russia's full scale invasion" and adds that "no state or person who financed or supplied the Russian war machine will be allowed to benefit from the reconstruction of Ukraine".
The Kremlin has not yet responded to the agreement.The Kremlin has not yet responded to the agreement.
Seven key takeaways from the US-Ukraine agreement
Watch: US signs historic natural resources deal with Ukraine says Scott BessentWatch: US signs historic natural resources deal with Ukraine says Scott Bessent
For Kyiv, it is seen as essential to accessing US military aid.For Kyiv, it is seen as essential to accessing US military aid.
Ukraine's Deputy Prime Minister Yulia Svyrydenko - who flew to Washington to ink the deal on Wednesday - said in a post on X that the new fund would "attract global investment into our country".Ukraine's Deputy Prime Minister Yulia Svyrydenko - who flew to Washington to ink the deal on Wednesday - said in a post on X that the new fund would "attract global investment into our country".
Listing the deal's provisions, she said it would involve projects in minerals, oil and gas, although the resources would remain the property of Ukraine.Listing the deal's provisions, she said it would involve projects in minerals, oil and gas, although the resources would remain the property of Ukraine.
The partnership will be equal, on a 50:50 basis, she added, and must be ratified by lawmakers in Kyiv.The partnership will be equal, on a 50:50 basis, she added, and must be ratified by lawmakers in Kyiv.
Under the deal, the US would contribute new assistance to Kyiv, she added, including, for example, air defence systems.Under the deal, the US would contribute new assistance to Kyiv, she added, including, for example, air defence systems.
President Donald Trump has repeatedly pushed for the agreement as a prerequisite to offering any future security guarantees to Kyiv.President Donald Trump has repeatedly pushed for the agreement as a prerequisite to offering any future security guarantees to Kyiv.
Crucially, the draft of the deal indicates Ukraine will be giving Washington access to some of its natural resources in return for future US security assistance.Crucially, the draft of the deal indicates Ukraine will be giving Washington access to some of its natural resources in return for future US security assistance.
But that is significantly less than what Trump had wanted, which was to get paid back for all US military aid given since the start of the war.But that is significantly less than what Trump had wanted, which was to get paid back for all US military aid given since the start of the war.
Ukrainian President Volodymyr Zelensky has managed to eke out some concessions from Washington.Ukrainian President Volodymyr Zelensky has managed to eke out some concessions from Washington.
The deal was delayed after US authorities said Kyiv was trying to make last-minute changes.The deal was delayed after US authorities said Kyiv was trying to make last-minute changes.
On Wednesday afternoon, a US source familiar with the talks criticised Ukraine for seeking to reopen some terms that had apparently been finalised over the weekend.On Wednesday afternoon, a US source familiar with the talks criticised Ukraine for seeking to reopen some terms that had apparently been finalised over the weekend.
The source said sticking points had included governance of the fund, issues with transparency, and steps to ensure that all funds would be fully traceable.The source said sticking points had included governance of the fund, issues with transparency, and steps to ensure that all funds would be fully traceable.
Technical documents were signed last week by representatives of both countries.Technical documents were signed last week by representatives of both countries.
Trump and Zelensky spoke on the sidelines of Pope Francis' funeralTrump and Zelensky spoke on the sidelines of Pope Francis' funeral
The initial agreement was due to be signed in February, but fell apart following a heated exchange at the White House when Trump accused Zelensky of "gambling with World War Three".The initial agreement was due to be signed in February, but fell apart following a heated exchange at the White House when Trump accused Zelensky of "gambling with World War Three".
The breakthrough comes days after Trump and Zelensky held a face-to-face meeting on the sidelines of Pope Francis' funeral, and as talks between Moscow and Washington over a possible ceasefire in Ukraine grind on.The breakthrough comes days after Trump and Zelensky held a face-to-face meeting on the sidelines of Pope Francis' funeral, and as talks between Moscow and Washington over a possible ceasefire in Ukraine grind on.
Phoning into the NewsNation network on Wednesday evening, Trump said he had pressed Zelensky at Vatican City to seal the deal.Phoning into the NewsNation network on Wednesday evening, Trump said he had pressed Zelensky at Vatican City to seal the deal.
"I was telling him that it's a very good thing if we can produce a deal that you sign it," he said, "because Russia is much bigger and much stronger. Russia is just chugging forward.""I was telling him that it's a very good thing if we can produce a deal that you sign it," he said, "because Russia is much bigger and much stronger. Russia is just chugging forward."
The US president said the deal would recuperate the multi-billion dollar US assistance to Ukraine since the war began and "much more in theory".The US president said the deal would recuperate the multi-billion dollar US assistance to Ukraine since the war began and "much more in theory".
"So I went to them and said, 'Look, we got to get rare earth.' They have great rare earth, meaning certain minerals, materials," said Trump."So I went to them and said, 'Look, we got to get rare earth.' They have great rare earth, meaning certain minerals, materials," said Trump.
"They have things that a lot of places don't have. It's a big asset that they have.""They have things that a lot of places don't have. It's a big asset that they have."
The agreement comes amid a US trade war with China, where 90% of the world's current rare-earth stocks are sourced.The agreement comes amid a US trade war with China, where 90% of the world's current rare-earth stocks are sourced.