Trump-Ukraine minerals deal hits yet another late snag

Ukraine and the United States planned to sign a long-awaited minerals deal Wednesday — before yet another last-minute obstacle threatened to scupper the plan.

As Ukrainian Deputy Prime Minister Yulia Svyrydenko traveled to Washington on Wednesday to ink the agreement, the American side demanded Kyiv sign not only the main economic pact, but also two technical side-deals, a senior official familiar with the matter told POLITICO after being granted anonymity to discuss the sensitive topic.

Kyiv and Washington have been negotiating for months on an agreement, which would see the U.S. develop and profit from Ukraine’s vast natural resources, including critical elements and minerals vital to manufacturing modern technologies, and contribute to a reconstruction fund for Ukraine.

U.S. President Donald Trump has previously described such a deal as reimbursement for the billions in American aid funneled to Ukraine since Russia launched its full-scale invasion in 2022.

The Trump administration urged Ukraine to sign all three documents connected to the deal.

“President Trump has said that the time to get this done is now, and we are moving with all deliberate speed toward this end. The United States is committed to the quick conclusion of this vital agreement, and to securing a lasting peace in Ukraine,” a Treasury spokesperson said.

One person familiar with the matter faulted Ukraine for reopening terms that have already been agreed upon, upsetting Wednesday’s planned signing.

“All three documents need to be signed today, but the Ukrainians are trying to reopen terms which have already been agreed upon as part of the package — this will be up to the Ukrainians, as the U.S. is ready to sign,” the person said.

The U.S. told Svyrydenko not to travel to Washington on Wednesday unless the agreements were finalized, the person said.

Both countries agreed on the final technical documents over the weekend, but the person said Ukraine on Wednesday tried to reopen previously agreed upon sticking points, including the governance of the fund, the transparency mechanism and making sure the funds are all fully traceable. The teams “stayed up all night Friday and into Saturday morning finalizing the documents” and worked late into Tuesday night as well, the person said.

If Ukraine lives up to already agreed upon terms the signing could still happen Wednesday, the person said.

Ukrainian MP Yaroslav Zheleznyak said that the agreement’s terms have improved — Ukraine will not need to pay back prior aid as debt and that the U.S. will contribute to a reconstruction fund.

“The agreement will be for a fixed term with the right of both parties to make changes in the future,” Zheleznyak said, citing his own sources. The sides have not yet agreed on its final terms, he said.

If the sides agree, they will sign the deal, then the Ukrainian parliament will have to ratify it and change the legislation for it to be properly implemented, the MP said.

Ukrainian Prime Minister Denys Shmyhal said on national television that the deal was expected to be signed in the next 24 hours.

“Yes, we were planning to sign the deal today,” the senior official said. “The United States also agreed to contribute to the reconstruction fund. For example, if the U.S. gives Ukraine air defense systems, their money […] can be considered as a contribution to the fund.”

Ukrainian President Volodymyr Zelenskyy previously refused to sign two draft agreements proposed by Trump’s administration, saying the terms — which included Kyiv giving up minerals, oil and gas revenues, plus earnings from ports and other infrastructure to the tune of $500 billion — were too harsh.

“I will not sign what 10 generations of Ukrainians will have to pay back,” Zelenskyy insisted in February.

Trump and Zelenskyy were set to sign a deal in February before the discussions were spectacularly derailed by a heated Oval Office meeting between the two leaders.

This story has been updated. Felicia Schwartz contributed to this report from Washington.