As President Donald Trump reasserts American strength on the global stage, a pivotal agreement between the United States and Ukraine is taking shape. According to an anonymous government official who spoke with AFP, “We are planning a visit to Washington on Friday to sign the agreement,” signalling a major step in U.S.-Ukraine relations.
The Financial Times reports that Ukraine has reluctantly agreed to Washington’s terms on a minerals deal after the U.S. softened its strictest demands—particularly dropping its claim to $500 billion in potential revenues from resource exploitation. Clearly, Ukraine had little choice but to accept, as its economy remains in dire straits after years of reckless mismanagement and corruption.
According to Bloomberg, the Ukrainian government is expected to vote on Wednesday to approve the recommendation to sign the deal.
“Kyiv is now prepared to sign the agreement on the joint development of its mineral resources, including oil and gas, after the U.S. backed down from demands for a claim to $500 billion in potential profits from resource exploitation,”
FT states.
With Ukraine desperate for American economic backing, officials in Kyiv are hoping this deal will help mend ties with President Trump’s administration and secure long-term U.S. involvement in the region’s security.
Details of the Deal
According to FT, which reviewed the final draft dated February 24, the agreement proposes the creation of a fund where Ukraine would deposit 50% of its future revenues from the commercialization of state-owned mineral resources, including oil and gas. This fund is expected to be used for development projects within Ukraine.
Importantly, the agreement excludes resources that are already feeding Ukraine’s budget, meaning state-owned giants like Naftogaz and Ukrnafta would not be impacted—for now.
The document states that the U.S. will support Ukraine’s economic development in the future. However, in a significant omission, FT notes that the agreement lacks any mention of U.S. security guarantees—something Ukraine had originally demanded. Additionally, key details remain unresolved, including the exact U.S. stake in the fund and the terms of “co-ownership” agreements, which will be hashed out in future negotiations.
Ukrainian officials claim that the agreement has already been signed off by the ministers of justice, economy, and foreign affairs. They anticipate that President Volodymyr Zelensky will visit the White House in the coming weeks for an official signing ceremony with President Trump.
“This will be an opportunity for President Zelensky to discuss the bigger picture. Then we can consider our next steps,”
an official stated.
A Framework Without Guarantees?
Ukrainian officials insist that this is just a “framework agreement,” meaning no money will change hands until the fund is operational—giving both sides time to iron out lingering uncertainties. FT also points out that jurisdictional disputes remain unresolved.
However, before anything is finalized, the deal must pass through Ukraine’s parliament, where opposition lawmakers have promised a “stormy” debate before granting approval.