Washington expects Verkhovna Rada to ratify minerals deal soon
- Svitlana Ivanchenko
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22:39, 01 May, 2025
The Verkhovna Rada of Ukraine. Illustrative photo: ReutersThe United States expects that the Verkhovna Rada of Ukraine may ratify the agreement on cooperation in the field of mineral resources in the coming days.
This was reported by Sky News.
According to the publication, citing an anonymous source in Donald Trump's administration, the document could be adopted in parliament this week.
According to the agreements reached between Ukraine and the United States, three separate documents were signed. They stipulate that 50% of the profits from new projects for the extraction of Ukrainian natural resources, including not only rare earth metals, will go to a special investment fund.
As this is an international agreement, it will only enter into force after ratification by the Verkhovna Rada.
MP Yaroslav Zheleznyak suggests that the issue will be considered during the plenary week of 13-15 May. Once the agreement is approved, the investment fund should start operating.
U.S. Treasury Secretary Scott Bessent previously stated that the signing of this agreement is a signal to Russia of the Trump administration's intention to support the peace process, which is centred on «a sovereign, peaceful and prosperous Ukraine».
Agreement on minerals between Ukraine and the United States
Earlier, Donald Trump said that he would like to conclude a deal under which Ukraine would supply the US with rare earth minerals needed for electronics production in exchange for US aid.
However, German Chancellor Olaf Scholz criticised Donald Trump's proposal to provide Ukraine with military assistance in exchange for its minerals.
Later, US President Donald Trump said that Ukraine had agreed to give Washington access to rare earth minerals worth $500 billion.
Ukraine's Economy Minister Yulia Svyrydenko and US Treasury Secretary Scott Bessent sign an agreement between the two countries to establish a Reconstruction Investment Fund.
Later, the Cabinet of Ministers of Ukraine published the full text of the agreement on cooperation in the field of subsoil use, which was signed with the US government on 1 May in Washington.