Both the US and Ukraine have said they are broadly ready to sign a deal which would give American firms access to Ukraine's minerals. "We are ready to sign this afternoon if they are," US Treasury Secretary Scott Bessent said on Wednesday, adding that Ukraine "decided to make last minute changes" to the agreement. Ukraine's Deputy Prime Minister Yulia Svyrydenko was flying to Washington on Wednesday after an apparent breakthrough in negotiations. Earlier, BBC News saw a draft copy of the deal, which provides for the creation of a joint Ukrainian-US investment fund to search for minerals in Ukraine, and set outs how revenues would be split. On Wednesday afternoon a US source familiar with the talks criticised Ukraine for seeking to re-open some terms that had already been agreed upon over the weekend. Both US and Ukrainian teams worked through the night on Friday into Saturday to finalise the documents, as well as into the early morning on Wednesday, the source told the BBC. They added that the sticking points include governance of the fund, the transparency mechanism, and steps to ensure that all funds are fully traceable. Despite these last minute negotiations, the signing could still happen by the end of Wednesday if the US side believes that Ukraine is complying with already agreed upon terms, the source said. "Nothing's been removed," Bessent said when asked about any changes to the deal. "It's the same agreement that we agreed to on the weekend. No changes on our side." Technical documents were signed last week by representatives of both countries. In Kyiv, Prime Minister Denys Shmyhal said that Ukraine expected the deal to be signed within "the next 24 hours". "This is truly a good, equal and beneficial international agreement on joint investments in the development and recovery of Ukraine," Shmyhal said. Since returning to the White House, US President Donald Trump has repeatedly pushed for an agreement as a prerequisite to offering any future security guarantees to Kyiv, as Ukraine continues to fight against invading Russian forces. Ukraine is believed to have vast reserves of critical rare minerals like graphite, titanium and lithium beneath its soil. They are highly sought after because of their use in renewable energy, military applications and industrial infrastructure. The Trump administration's push for access to another country's mineral wealth comes amid a growing trade war with China, where90% of the world's current stocks are sourced from. The draft deal also appears to give the US sweeping access to Ukrainian industries beyond minerals. While it does not specify security support that Washington is willing to provide in return, it states that the deal is "a tangible demonstration of the United States of America's support for Ukraine's security". The agreement comes days after Trump and Ukrainian President Volodymyr Zelensky held a face-to-face meeting on the sidelines of Pope Francis' funeral, and as talks between Moscow and Washington over a possible ceasefire in Ukraine continue. The latest Trump-Zelensky talks appeared to be far more amicable than theirmeeting at the White House in February, and have led to a softening in tone from the US president towards his Ukrainian counterpart in the days that followed, as well as an increased level of criticism of Russia's attacks. Speaking on Wednesday, Trump said: "As you know, we're looking for rare earth [minerals] all the time. "They have a lot, and we made a deal, so we can start digging and doing what we have to do. It's also good for them." The initial agreement was due to be signed in February, but fell apart following the heated exchange between the two leaders, when Trump accused Zelensky of "gambling with World War Three".
US and Ukraine inch towards critical minerals deal
TruthLens AI Suggested Headline:
"US and Ukraine Move Toward Finalization of Critical Minerals Agreement"
Bbc News
8.1
TruthLens AI Summary
The United States and Ukraine are on the verge of finalizing a significant agreement that would allow American companies to access Ukraine's rich reserves of critical minerals. US Treasury Secretary Scott Bessent indicated that the US is prepared to sign the deal, contingent on Ukraine's readiness, after last-minute changes were proposed by the Ukrainian side. Deputy Prime Minister Yulia Svyrydenko was en route to Washington, indicating a breakthrough in the negotiations. The draft of the agreement includes the establishment of a joint investment fund aimed at exploring Ukraine's mineral wealth, along with provisions detailing the distribution of revenues. However, a US source expressed concerns over Ukraine's attempts to amend terms that were previously settled, highlighting issues related to fund governance and transparency mechanisms. The urgency of the situation is underscored by the fact that both teams had been working through the night to finalize the deal, demonstrating the high stakes involved in securing this partnership.
Ukrainian Prime Minister Denys Shmyhal expressed optimism about the imminent signing of the deal, describing it as a mutually beneficial agreement that will aid in the recovery and development of Ukraine. The mineral resources in Ukraine, including lithium, graphite, and titanium, are increasingly vital due to their applications in renewable energy and military technologies. This agreement comes in the context of the ongoing conflict with Russia and as the US seeks to diversify its mineral sources amid rising tensions with China, which currently dominates global production. The deal is framed as part of the US's broader commitment to support Ukraine's security, although specific security guarantees are not detailed within the agreement. The negotiations have been influenced by recent discussions between US President Donald Trump and Ukrainian President Volodymyr Zelensky, suggesting a thawing of relations that may facilitate the agreement's completion. As the situation develops, the signing of this deal could mark a pivotal moment in US-Ukrainian relations, particularly in the context of the ongoing geopolitical landscape.
TruthLens AI Analysis
The article outlines the ongoing negotiations between the US and Ukraine regarding a crucial minerals deal. It highlights the urgency and complexities involved in finalizing the agreement, which would enable American companies to access valuable mineral resources in Ukraine. This development appears to be significant not just economically but also politically, given the broader context of US-Ukraine relations.
Negotiation Dynamics
Negotiations have reached a critical stage, with both parties indicating readiness to sign the agreement. However, last-minute changes proposed by Ukraine have created tension. The US Treasury Secretary's comments suggest frustration over Ukraine's attempts to amend terms that were previously settled, indicating a delicate balance between flexibility and firmness in negotiations. This could reflect broader diplomatic strategies, where Ukraine seeks to ensure maximum benefits from the deal.
Public Perception and Political Implications
The article aims to convey a sense of urgency and cooperation between the US and Ukraine, potentially fostering a positive public perception of the agreement. By emphasizing readiness to sign, it seeks to project an image of partnership and mutual benefit. However, the mention of disagreements over terms may raise questions about the stability and reliability of such international agreements, potentially influencing public sentiment towards both governments.
Hidden Agendas
There may be underlying motives not explicitly stated in the article. For instance, the urgency could be tied to broader geopolitical strategies, such as countering Russian influence in the region. The focus on transparency and governance suggests that both countries are aware of the potential for corruption or mismanagement, hinting at a deeper concern about the integrity of the investment process.
Reliability of the Information
The reliability of the article appears to be high, as it cites specific comments from key figures and provides contextual information about the negotiations. However, the framing of the story could lead to manipulation of public perception, especially if emphasized aspects are selectively reported. The tension between the two parties might be downplayed for diplomatic reasons.
Impact on Communities and Economies
The potential signing of this deal could have significant repercussions for both the US and Ukrainian economies. For Ukraine, access to American investment could facilitate reconstruction and development, while for the US, it represents an opportunity to secure essential minerals necessary for various industries, including technology and defense.
Target Audiences and Support Base
This news may resonate with business communities, particularly those involved in mining and investment sectors. Additionally, it could attract support from political groups advocating for stronger US-Ukraine ties, especially in the context of geopolitical stability against adversarial influences.
Market Reactions
Such news can influence stock markets, particularly for companies involved in mining and resource extraction. Investors may react positively to prospects of increased access to minerals, which could lead to fluctuations in relevant stock prices.
Global Power Dynamics
This deal holds significance in the context of global power dynamics, particularly concerning energy independence and resource control. As nations vie for strategic advantages, agreements like this can shift balances and influence international relations.
Use of Artificial Intelligence
There is no clear indication that AI was used in drafting this article; however, AI models could help in analyzing trends or synthesizing data regarding negotiations. If utilized, AI might guide the narrative to align with specific political or economic interests, subtly influencing public perception through the choice of language and emphasis on certain aspects.
Overall, while the article provides valuable insights into a developing story, it also raises questions about the broader implications and motivations behind the agreement, making it a critical piece of news in the current geopolitical landscape.