Ukraine, US sign minerals deal

Kathmandu: The United States and Ukraine have signed a minerals deal after a two-month delay.

They signed a mineral deal on Wednesday. President Donald Trump’s administration called a new form of US commitment to Kyiv after the end of military aid. Ukraine said it secured key interests after protracted negotiations, including full sovereignty over its rare earths, which are vital for new technologies and largely untapped.

President Trump initially demanded rights to Ukraine’s mineral wealth as compensation for US weapons sent under former president Joe Biden after Russia invaded just over three years ago. After initial hesitation, Ukraine accepted a minerals accord as a way to secure long-term investment by the United States, as President Trump attempts to drastically scale back US security commitments around the world.

Announcing the deal in Washington, Treasury Secretary Scott Bessent said it showed “both sides’ commitment to lasting peace and prosperity in Ukraine. ‘This agreement signals clearly to Russia that the Trump administration is committed to a peace process centred on a free, sovereign and prosperous Ukraine over the long term,’ said Bessent.

RSS/AFP