The US and Ukraine have singed a long-awaited mineral deal which Washington said showed both sides were committed to lasting peace and prosperity in Ukraine.
06:57, Thu, May 1, 2025 | UPDATED: 07:00, Thu, May 1, 2025
live
Ukraine hopes that the deal will enable it to access vital US military aid (Image: Getty)
The United States and Ukraine have signed their long-awaited mineral deal, which Ukraine believes will enable it to access vital military aid. The newly created US-Ukraine Reconstruction Investment Fund will allow the United States to access vital minerals within Ukraine's borders and recognises the "significant financial and material support" given to Kyiv during the conflict.
US Treasury Secretary Scott Bessent said that it showed both sides were committed to peace in the conflict and comes amid growing economic tensions following the decision to impose tariffs on China. Ukraine's Deputy Prime Minister Yulia Svyrydenko said on X: "Together with the United States, we are creating the Fund that will attract global investment into our country."
The Kremlin has yet to respond to news of the deal.
The deal provides the United States with a 50% stake in the future exploitation of Ukrainian minerals while providing Kyiv with a form of US security guarentee.
Ukraine's minerals are believed to be vast and untapped but much of the data which underpins this belief dates back to when the country was part of the Soviet Union and thus, its accuracy is unknown.
At least in the short term, the deal provides Ukraine with the ability to negotiate harder at any future negotiating table.
Daily Express Investigations Editor Zak Garner-Purkis reports from Ukraine telling of the apprehension felt by those subjected to regular drone bombardments.
Awoken in the middle of the night by the sound of an intercom warning, Zak paints a picture of the true horror of attacks which have become almost routine for citizens in Ukrainian cities.
Overnight, Russian drones struck the Ukrainian city of Odesa, killing two and injuring at least five.
Governer of the region Oleh Kiper said that explosions struck a petrol station in the city, while a supermarket and school were also damaged.
He said: "The enemy is attacking Odesa with strike drones. There is considerable damage to civilian infrastructure, particularly dwellings."
The city's Mayor Gennady Trukhanov said: "The enemy has launched another massive attack on the city. Residential buildings and civilian infrastructure have been damaged in various areas of Odessa."
Odesa is a strategically important port which has been targeted consistently by Russia since the outbreak of the war.
The deal, which has been negotiated for months, will allow the United States preferential access to Ukraine's minerals which include graphite, titanium and lithium, elements crucial for renewable energy and military technology.
In previous iterations of the deal, Donald Trump's negotiators have insisted that Ukraine pay back the aid it has been given since the war began, but no such requirement is included in the final deal.
4 hours ago
4
English (US) · 