Ukraine inches closer to signing US minerals deal in bid to secure military aid

Ukraine is ready to sign a landmark deal that would grant the United States access to its critical rare mineral resources, a move aimed at ensuring continued American support in its ongoing war with Russia, the Associated Press reported, citing senior Ukrainian officials.

Deputy Prime Minister and Economy Minister Yulia Svyrydenko travelled to Washington to finalise the deal, which Prime Minister Denys Shmyhal described on national television as a “strategic” investment partnership between the two governments. While much of the agreement has been settled, final hurdles remain, a senior Ukrainian official told Associated Press on the condition of anonymity.

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The deal is viewed by Kyiv as essential to securing future US military aid. President Donald Trump earlier said that access to Ukraine’s rare earth materials should be part of any continued US assistance, framing it as reimbursement for billions already spent. Talks stalled after a contentious Oval Office meeting earlier this year, but have resumed in recent weeks.

US Treasury Secretary Scott Bessent confirmed Wednesday that Washington is prepared to sign the agreement, though he noted last-minute changes made by Ukraine.“We’re sure that they will reconsider that. And we are ready to sign this afternoon if they are.”

The US is seeking access to over 20 strategic raw materials, including uranium, titanium, lithium, graphite, and manganese, all vital to aerospace, defense, energy, and electric vehicle manufacturing.

Kyiv had previously rejected an earlier US draft it felt overly favored American interests. The revised version, according to Shmyhal, would establish a balanced 10-year partnership. Only new US military aid would count toward the American financial stake, and prior assistance would be excluded. The deal also ensures compatibility with Ukraine’s aspirations for European Union membership.

The Ukrainian Cabinet is expected to approve the text before it is signed in Washington. Parliamentary ratification would then be required for the agreement to take effect.

(With inputs from Associated Press)