Ukrainian Prime Minister Denys Shmyhal will travel to Washington next week to participate in negotiations on a mineral deal with the United States, according to a document released by Ukraine on Friday.
Shmyhal will also meet with US Secretary of the Treasury Scott Bessent. The negotiating teams aim to reach an agreement by 26 April at the latest.
Washington and Kyiv signed a "letter of intent" on Thursday to conclude a so-called mineral deal following the disastrous meeting on 28 February between Ukrainian President Volodymyr Zelensky and US President Donald Trump and Vice-President JD Vance . This is seen as an important step forward.
The deal is intended to give the US access to some of Ukraine's raw materials and their exploitation. US President Donald Trump sees this as compensation for the military aid Ukraine has received since Russia's invasion more than three years ago.
The negotiations on the raw materials deal are very sensitive in Ukraine. They are not public, but some details have been leaked to the media. The intention is that part of the proceeds from the extraction of Ukrainian raw materials will go to a fund. This will ultimately be used to invest in Ukrainian projects, but the profits will first compensate the United States with interest for its support to the country.
The document also states that the US will take into account Ukraine's goal of avoiding conflict when drafting the agreement. This includes Ukraine's commitments to future EU membership and agreements with international banks or other creditors.
