2. 
3. Ukrainian MP Maria Mezentseva tells the BBC News channel she hopes the long-awaited minerals deal with the US will be signed soon.
4. The deal is a “good investment opportunity” and a fair one, she says, and it “doesn’t breach Ukraine’s EU aspirations”.
5. The deal is for critical minerals, energy and infrastructure and support for rebuilding efforts, she says, adding that the deal means Ukraine is “not giving away all its resources”.
6. But “we want to see clear security guarantees”, Mezentseva says.
9. Bernd Debusmann Jr
10. Reporting from the White House
11. A source familiar with the discussions tells the BBC that if the US side believes that Ukraine is complying with already agreed upon terms, the signing can still happen by the end of Wednesday.
12. The source says that the US believes the Ukrainians are attempting to re-open terms that were already agreed as part of the package.
13. Ukraine’s deputy prime minister was told not to travel to the US until the agreements were finalised, the source added.
14. Technical documents were signed on Friday by representatives of both countries. The source says that Ukraine was attempting to re-open several specific points, including the governance of the fund, the transparency mechanism, and steps to ensure that all funds are fully traceable.
15. Both the US and Ukraine teams worked through the night on Friday into Saturday to finalise the documents, as well as until early in the morning on Wednesday.
18. Image source, Reuters
19. The minerals deal is a major development that could have Russia worried about the strengthening relationship between the US and Ukraine, according to critical minerals and energy geopolitics expert Duncan Wood.
20. Wood tells BBC News that Moscow would have a sense of “deep disappointment” over the the two countries growing closer.
21. The potential presence of US interests in Ukraine also adds a different dynamic to the conflict, he adds.
22. Wood also notes that despite Trump’s broader effort to diversify critical minerals supply chains away from Beijing‘s near monopoly on processing meant that even if the US could access raw material from Ukraine, refinement would still need to happen in China.
25. Bernd Debusmann Jr
26. Reporting from the White House
27. Today’s cabinet meeting lasted exactly two hours and three minutes.
28. But we only heard about Ukraine briefly, and at the end, once reporters were able to ask questions. I spend most days at the White House, and recently I’ve found this to be the case, more often than not.
29. Earlier in the administration, officials were quick to discuss efforts to end the conflict there, and some of them, such as National Security Advisor Mike Waltz, were quick to stop and talk to reporters outside the Oval Office.
30. Some weeks – particularly that in which Sir Keir Starmer, Emmanuel Macron and Volodomyr Zelensky all visited – seemed to have been completely dominated by Ukraine news.
31. That has largely stopped, potentially a sign of the administration’s growing frustration that it has been unable to stop the fighting despite repeated promises.
32. We still don’t know about when any potential signing could take place.
33. But we will hear from Trump at least two more times today – at an investment-focused event this afternoon and at a televised down hall in the evening.
36. As we’ve been reporting, Treasury Secretary Scott Bessent said the US is ready to sign the deal “this afternoon” but the Ukrainians “decided to make last minute changes”.
37. You can watch the moment he’s asked about the agreement during Trump’s latest cabinet meeting below:
38. Media caption,
39. Trump administration says US ready to sign Ukraine minerals deal
42. Image source, Oleh Tereshchenko / Ukrainian Ministry of Economy
43. Image caption,
44. Ukraine’s economy minister Yulia Svyrydenko signed a memorandum of understanding on rare earth minerals with the US earlier this month
45. The latest line from US Treasury Secretary Scott Bessent is that the US is ready to sign the deal if Ukraine is – but let’s take a moment to look back at today’s developments.
46. A senior source earlier this afternoon told the BBC that Ukraine was ready to sign the deal today and that economy minister Yulia Svyrydenko was en route to Washington.
47. Ukraine’s Prime Minister Denys Shmyhal then said that the fine details were being worked on and he hoped it would be signed in the next 24 hours.
48. In Washington, the first we heard from the administration was at the end of a cabinet meeting marking the first 100 days of Trump’s second term.
49. Bessent responded to a question from the press and indicated that the US was ready to finalise the agreement after some “last minute changes”.
50. President Trump took the opportunity to repeat his familiar criticism of the previous administration’s spending on Ukraine, including figures which various experts and European leaders have debunked.
51. Once the minerals deal is signed in Washington Ukraine’s parliament will need to ratify the framework.
54. Image source, Getty Images
55. More now from the cabinet meeting and Trump’s remarks about the minerals agreement with Ukraine.
56. He says he “didn’t want to make a complicated deal” because “Ukraine doesn’t have very much money”.
57. But “we’ve made a deal where our money is secure,” he says.
58. Having a US presence in Ukraine where the US would be digging for the country’s resources “will keep a lot of bad actors out of the country” he adds.
61. Bernd Debusmann Jr
62. Reporting from the White House
63. Image source, Getty Images
64. Donald Trump was just asked about the Ukraine minerals deal – a question he directed to Treasury Secretary Scott Bessent.
65. “Our side is ready to sign this afternoon if they are,” Bessent says.
66. According to Bessent, both sides decided to make some “last minute changes” to the agreement last night.
67. It is unclear what those changes are.
68. Bessent adds that that “it’s the same agreement that we agreed to on the weekend” and that nothing was removed.
69. Trump is now delivering familiar talking points on the death toll in Ukraine, and his perception that Europe has not contributed enough to Ukraine’s defence.
70. “As you know, we’re looking for rare earth all the time,” he adds, referencing the deal. “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.”
71. “Soon, they’re going to honour the deal,” he says. “We haven’t really seen the fruits of that deal yet. I suspect we will.”
74. Abdujalil Abdurasulov
75. Ukraine reporter
76. Prime Minister Denys Shmyhal has stated that as part of the agreement Ukraine will maintain control over its natural resources.
77. Shmyhal claims that the deal covers only future licenses and special permit for subsoil use.
78. The fund, he says, will invest in Ukraine’s recovery and development for 10 years.
79. According to the prime minister, both parties will have an equal ownership and make equal contribution to the fund.
80. He also says that once the deal is agreed, there will be two more “technical” documents to sign – one on the creation of the fund and another one on its financing.
81. The current “framework” agreement must be ratified by the Ukrainian parliament first.
84. Media caption,
85. Listen: How the war has changed under the Trump presidency
86. If you want to take a step back from the details of the expected minerals agreement, our colleagues on Ukrainecast have been analysing the first 100 days of Donald Trump’s presidency.
87. They assess the impact Trump is having on Ukraine and whether we’re any closer to a peace deal.
88. You can find that episode here, and tomorrow the team will record a special Q&A episode on the minerals deal, so if you have any questions please email [email protected].
91. As details of the deal continue to emerge, let’s take a look at how we got here.
92. Whose idea was the deal?
93. The prospect of a deal was first proposed by President Zelensky last year as a way to offer the US a tangible reason to continue supporting Ukraine. Trump, for his part, has suggested a deal could act as compensation for US military aid given to Ukraine since Russia launched its full-scale invasion in February 2022.
94. Why does Trump want the minerals?
95. Critical minerals are key to renewable energy, military applications and industrial infrastructure and the US wants to reduce dependency on China, which controls 75% of rare earth deposits in the world, according to the Geological Investment Group.
96. When was the deal agreed?
97. The framework appears to have been broadly ready for a couple of months, and the prospect of a signing has edged closer since February.
98. Why was it derailed?
99. You probably don’t need reminding about the notorious White House bust-up between Zelensky, Trump and Vice-President Vance in February. The intel suggested the deal would be signed but after a tempestuous clash in front of the media, the Ukrainian delegation left Washington early.
100. Could it be signed today?
101. It certainly seems to be very close. With Ukraine’s deputy prime minister travelling to the US today, the expectation is that it could be hours away.
102. We’ll bring you more as soon as we have it.
103. 
106. Abdujalil Abdurasulov
107. Ukraine reporter
108. The focus of the agreement, which may yet change, is much broader than a deal on rare-earth minerals that was initially proposed by Kyiv.
109. The US-Ukraine government investment fund that will be established as part of the agreement will manage investments in “critical sectors of Ukraine’s economy” overall.
110. It means all mineral resources of Ukraine, its energy sector, transportation and other areas can be potentially included in the objectives of this fund.
111. The agreement doesn’t specify “security guarantees” that Ukraine has been insisting on. It only states that it’s “a tangible demonstration of the United States of America’s support for Ukraine’s security”.
112. This effectively repeats what the Trump administration stated earlier – that America’s involvement in Ukraine’s mining industry and other sectors will effectively represent an investment into security as well.
113. Kyiv, however, wanted to have specific commitments from the US.
116. Bernd Debusmann Jr
117. Reporting from the White House
118. Image source, Getty Images
119. I’ve been listening in on Trump’s cabinet meeting – and there is so far no indication of any imminent deal between the US and Ukraine.
120. In fact, I’ve so far not heard any mention of Ukraine at all from the cabinet members, who are going around the room discussing their accomplishments.
121. This is perhaps unsurprising if a deal is still in the works, rather than finalised. Many observers strongly suspect that when it is signed, it will be done with much fanfare, rather that an event in which a wide variety of topics are being covered.
122. There are still, however, several relevant parties – such as Treasury Secretary Scott Bessent and Secretary of State Marco Rubio – left to speak.
123. Stay with us for more updates.
126. Image source, Ukrainian Presidential Press Service
127. What does Trump want?

• Trump previously suggested a minerals deal could act as compensation for US military aid given to Ukraine since Russia launched its full-scale invasion in February 2022
• He also wants mineral resources from Ukraine amid an ongoing trade war with China, which is responsible for 90% of rare earth refining. In recent months, China has banned the export of several key minerals to the US

1. What does Zelensky want?

• Zelensky has pushed hard for the inclusion of a security guarantee from the US, to protect Ukraine from future Russian aggression
• The deal would also offer financial support for the reconstruction of Ukraine following the devastation caused by Russia’s invasion

3. Esme Stallard
4. Climate and science correspondent
5. Image source, Getty Images
6. Image caption,
7. Ukraine is home to some 19 million tonnes of proven reserves of graphite, one of the 50 minerals the US views as critical for its economy
8. It seems like a straightforward question but there is actually no global definition.
9. A country will assess each of the world’s minerals and is generally looking for a) how important is this mineral for our economy and technologies; and, b) how high is the risk of our supply of that mineral being disrupted.
10. If a country relies heavily on other countries to source a particular mineral that could be considered to have a high risk of disruption.
11. The result is that every country has its own list.
12. The US for example has two lists, one focused on minerals for energy technologies and one for the wider economy – that list has 50 “critical” minerals on it, external.
13. The UK has 34 minerals on its critical list, and India 30. , external
14. But there is a lot of cross over. For example, cobalt is one that appears on many countries’ lists. That’s because it’s vital for technologies like rechargeable batteries, and more than 50% of the global supply comes from just one country.
17. Tom Bateman
18. US State Department correspondent
19. Ukrainian sources say it’s now up to the White House to determine whether the deal signing takes place, and US officials are yet to comment.
20. A draft of the agreement, seen by the BBC, creates a joint US-Ukraine government investment fund to prospect for critical minerals in Ukraine, and sets out the joint financial arrangements for revenues from it for the two countries.
21. Crucially, the draft says that future American military assistance to Ukraine would count as an investment cost from the American side – in effect partly fulfilling President Trump’s demand for the US to get its “money back” for its weapons support for Ukraine, in the form of profits from future oil, gas and minerals profits.
22. But vitally this does not appear to be backdated to cover the cost of weapons assistance already given to Ukraine; a significant concession compared with previous reported drafts of the deal that president Zelensky was demanding and seems to have got from the White House.
25. US President Donald Trump’s cabinet meeting is now under way at the White House.
26. Stay with us as we’ll bring you the key lines on Ukraine as we get them.
27. You can also follow Trump’s remarks by clicking watch live at the top of the page.
30. Image source, Reuters
31. News that Ukraine is ready to sign the long-anticipated minerals deal with the US comes just days after the leaders of the two countries met at the funeral of Pope Francis.
32. After their face-to-face talk at St Peter’s Basilica on Saturday, Trump wrote on social media he feared Vladimir Putin was “tapping me along” after Moscow’s strikes on Kyiv last week, adding there was “no reason for Putin to be shooting missiles into civilian areas”.
33. The White House described the 15-minute meeting with Zelensky as “very productive”, while the Ukrainian president said it had the “potential to become historic”.
36. We’ve just taken a closer look at the draft minerals deal between the US and Ukraine, which is just shy of 3,500 words long.
37. The document is dense with a lot of information packed in, so it will take us some time to get to grips with the full contents of the deal.
38. The objectives of the agreement are outlined early on in the document:

• Further economic cooperation between the US and Ukraine
• Strengthen the partnership to help the reconstruction of Ukraine following Russia’s full-scale invasion
• Acknowledge Ukraine’s need for not only financial investment, but also structural, institutional and technological transformation
• Express a broader, and strategic, alignment between peoples and governments, with a tangible demonstration of US support for Ukraine’s security and integration into global economic frameworks
• Serve as a flagship mechanism for encouraging transparent, accountable, and future-oriented investment into critical sectors of Ukraine’s economy

3. Bernd Debusmann Jr
4. Reporting from the White House
5. Good morning from the White House, where there is so far no sign of any impending minerals deal between the US and Ukraine – although that could change quickly.
6. So far, US officials from both the White House and Treasury have not answered my repeated inquiries about the deal.
7. And just moments ago, one of President Trump’s chief trade advisors, Peter Navarro, gave no indication that the deal would be signed soon.
8. His focus, and that of the media, was largely on GDP figures which show that the US economy shrank in the first quarter of the year.
9. Trump’s cabinet meeting will take place soon, and the press “pool” – the small number of reporters who will be in the room – are likely to ask about that.
10. Any announcement of the deal would be seen as a considerable victory for the administration, which just this week celebrated its 100th day in office to much fanfare.

Page 2

2. US President Donald Trump’s cabinet meeting is now under way at the White House.
3. Stay with us as we’ll bring you the key lines on Ukraine as we get them.
4. You can also follow Trump’s remarks by clicking watch live at the top of the page.
7. Image source, Reuters
8. News that Ukraine is ready to sign the long-anticipated minerals deal with the US comes just days after the leaders of the two countries met at the funeral of Pope Francis.
9. After their face-to-face talk at St Peter’s Basilica on Saturday, Trump wrote on social media he feared Vladimir Putin was “tapping me along” after Moscow’s strikes on Kyiv last week, adding there was “no reason for Putin to be shooting missiles into civilian areas”.
10. The White House described the 15-minute meeting with Zelensky as “very productive”, while the Ukrainian president said it had the “potential to become historic”.
13. We’ve just taken a closer look at the draft minerals deal between the US and Ukraine, which is just shy of 3,500 words long.
14. The document is dense with a lot of information packed in, so it will take us some time to get to grips with the full contents of the deal.
15. The objectives of the agreement are outlined early on in the document:

• Further economic cooperation between the US and Ukraine
• Strengthen the partnership to help the reconstruction of Ukraine following Russia’s full-scale invasion
• Acknowledge Ukraine’s need for not only financial investment, but also structural, institutional and technological transformation
• Express a broader, and strategic, alignment between peoples and governments, with a tangible demonstration of US support for Ukraine’s security and integration into global economic frameworks
• Serve as a flagship mechanism for encouraging transparent, accountable, and future-oriented investment into critical sectors of Ukraine’s economy

3. Bernd Debusmann Jr
4. Reporting from the White House
5. Good morning from the White House, where there is so far no sign of any impending minerals deal between the US and Ukraine – although that could change quickly.
6. So far, US officials from both the White House and Treasury have not answered my repeated inquiries about the deal.
7. And just moments ago, one of President Trump’s chief trade advisors, Peter Navarro, gave no indication that the deal would be signed soon.
8. His focus, and that of the media, was largely on GDP figures which show that the US economy shrank in the first quarter of the year.
9. Trump’s cabinet meeting will take place soon, and the press “pool” – the small number of reporters who will be in the room – are likely to ask about that.
10. Any announcement of the deal would be seen as a considerable victory for the administration, which just this week celebrated its 100th day in office to much fanfare.
13. Image source, Getty Images
14. Ukrainian Prime Minister Denys Shmyhal has confirmed that Economy minister Yulia Svyrydenko is on her way to the US, adding that he hopes the minerals deal will be signed in the next “24 hours”.
15. “We are working on the final details with our American colleagues,” he tells national TV. “After that, there will be signing of two more technical agreements, about creation of the fund, its financing and filling.”
16. We’re reading through the deal so stick with us and we’ll bring you the main points from it shortly.
19. Tom Bateman
20. US State Department correspondent
21. US officials aren’t answering my calls to confirm whether or not the minerals deal is about to be signed in Washington, as the Ukrainians are saying.
22. That might be telling in itself, suggesting they’re still sorting out details. We’ll probably get a clearer steer in the next hour as Trump holds his cabinet meeting at 11:00 EST (16:00 BST), where the press pool will probably lob some questions at him about it.
23. It’s likely Trump wanted to be able to announce a full ceasefire deal by now – some 100 days into his presidency, but that was never about to happen.
24. Instead, the administration has been ratcheting up the pressure to get more progress out of Russia and Ukraine, amid increasing signs of Trump’s frustration that he can’t move forward in a process far more testing than he anticipated.
25. Last night Trump’s top diplomat Marco Rubio used his strongest language yet on the threat to walk away from the talks if there isn’t imminent progress.
26. He said it was now time for parties to deliver or the US mediation role would end.
29. As we wait to bring you more details about the deal, it’s worth mentioning that Ukraine and the US were originally expected to sign the agreement back in February – but a public argument in the Oval Office ultimately caused a delay.
30. Zelensky had travelled to Washington to sign the deal which had been trailed and praised by both sides in advance of the meeting. But instead of clinching a deal over its natural resources, the Ukrainian president faced an extraordinary dressing down in front of the world’s media.
31. Donald Trump demanded that he show more gratitude for years of US support, telling him: “You don’t have the cards right now…You’re gambling with millions of lives.”
32. And Vice-President JD Vance said: “Just say thank you.” The Ukrainian president was eventually told to leave the White House early.
33. You can watch the video of that meeting here:
34. Media caption,
35. Watch moment Zelensky, Vance and Trump get into angry exchange over Ukraine war
38. The BBC has seen a copy of the draft minerals deal between the US and Ukraine.
39. We’ll bring you the key details from it shortly.
41. 
42. Jon Donnison
43. Reporting from Kyiv
44. Government sources have told the BBC Ukraine’s economy minister is currently en route to Washington DC and that she is ready to sign the deal.
45. An official said it was now up the White House to determine whether it goes ahead but said it could happen as soon as today.
46. Full details of the agreement have not been revealed but previous leaks suggest it may include US access to Ukraine’s energy infrastructure, oil and gas, as well as precious minerals.
47. An investment fund for the reconstruction of Ukraine would then be set up as part of an economic partnership.
48. Ukraine hopes the deal will improve relations with the US which is leading efforts to reach a peace deal in Ukraine’s war with Russia.
51. Kyiv estimates that about 5% of the world’s “critical raw materials” are in Ukraine.
52. This includes some 19 million tonnes of proven reserves of graphite, which the Ukrainian Geological Survey state agency says makes the nation “one of the top five leading countries” for the supply of the mineral. Graphite is used to make batteries for electric vehicles.
53. Ukraine also has significant deposits of titanium and lithium. It says it has substantial amounts of the world’s rare earth metals – a group of 17 elements that are used to produce weapons, wind turbines, electronics and other products vital in the modern world – but these claims are disputed.
54. Also, some of the country’s mineral deposits have been seized by Russia. According to Ukrainian Economy Minister Yulia Svyrydenko, resources worth $350bn (£277bn) remain in occupied territories today.
55. 
58. Image source, Getty Images
59. Image caption,
60. Zelensky first travelled to Washington in February to sign an earlier version of the minerals deal
61. A senior Ukrainian official tells the BBC that “Ukraine is ready to sign” a minerals deal with the US “today” and timings now depend on “how ready the American side is”.
62. The US and Ukraine have been negotiating for several months over the deal which would involve an economic partnership between the two countries to develop Ukraine’s natural resources.
63. Ukraine’s deputy prime minister, Yulia Svyrydenko, is on the way to Washington to sign the deal.
64. President Trump and Volodymyr Zelensky had been planning to sign an earlier version of the deal in February but it was cancelled after the public argument in the Oval Office between the two leaders.