Ukraine ready to sign US minerals deal on April 30, source in President's Office confirms

Editor's note: This is a developing story and is being updated.

Ukraine is ready to sign the long-anticipated minerals agreement with the U.S., which could happen as early as April 30, a source in the President's Office has told the Kyiv Independent.

According to the source, the final version of the deal includes a 50-50 investment structure between the two countries and contains "a lot of good details."

"I hope that it will be approved soon, during the day, and in the evening our time. (Economy Minister) Yulia Svyrydenko will sign it," they added.

The agreement excludes any provisions related to Ukraine's debt for prior U.S. military or financial assistance, the source said.

This marks a departure from earlier U.S. proposals, in which President Donald Trump had sought to frame the agreement as partial repayment for U.S. military aid, claiming Ukraine owed Washington up to $300 billion.

Since the start of Russia's full-scale invasion, Kyiv has received just over $100 billion in U.S. assistance.

Ukrainian opposition MP Yaroslav Zhelezniak, who has reviewed multiple drafts, wrote on Telegram that "the entire logic of the future fund (which forms the basis of the minerals agreement) will be changed."

Under the revised framework, there will be no immediate payouts or transfers of existing plants, ports, or Ukraine's gas transmission system as previously proposed. Instead, the focus will shift to future joint investment projects and reinvestment of profits, Zhelezniak said.

"Based on the draft document I saw in Washington, it's indeed much better than the one sent to us on March 23," he added.

A map showing the location of critical raw materials in Ukraine. (The Kyiv Independent)

A memorandum signed earlier this month by Kyiv and Washington emphasized that the minerals agreement will not conflict with Ukraine's path toward EU integration or its obligations to international financial institutions.

One of the major hurdles in the negotiations had been a clash between Washington's early demands and the critical raw materials partnership signed between Brussels and Kyiv in 2021.

The document also recognized Ukraine's past contribution to international security through its voluntary surrender of the world's third-largest nuclear arsenal.

After the collapse of the Soviet Union, Ukraine inherited the world's third-largest nuclear arsenal. Kyiv voluntarily gave up these weapons under the 1994 Budapest Memorandum, in exchange for security assurances from the U.S., U.K., and Russia.

The deal has been under discussion for months and became a point of tension between President Volodymyr Zelensky and U.S. President Donald Trump, who got into a heated argument in the White House on Feb. 28 when the deal was set to be signed by the two leaders.

U.S. Treasury Secretary Scott Bessent said earlier this month that the minerals deal would underscore Washington's commitment to Ukraine as an economic partner and could be used as leverage to encourage Russia to negotiate an end to its war.