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Ukraine and U.S. Push to Finalize Minerals Deal as Key Issues Persist

Negotiations continue over profit-sharing, U.S. oversight, and frozen Russian assets, with Washington urging swift progress.

Ukrainian Minister of Finance Serhiy Marchenko looks on, during the final day of the G7 Finance Ministers and Central Bank Governors' Meeting in Stresa, Italy May 25, 2024. REUTERS/Massimo Pinca/File Photo
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Overview

  • Ukraine and the United States are working to finalize a critical minerals agreement, with unresolved issues delaying a formal signing.
  • Key sticking points include profit-sharing terms, U.S. oversight rights, and the inclusion of frozen Russian assets for war damage reparations.
  • Ukrainian Finance Minister Serhii Marchenko stated that Kyiv is moving "as fast as we can" but provided no specific timeline for completion.
  • The negotiations follow a memorandum of intent signed on April 17, marking an initial step toward expanded economic cooperation.
  • Washington has signaled it may withdraw from peace-broker efforts between Russia and Ukraine unless clear progress on the economic partnership is made.