By Anastasiia Malenko and Christian Lowe

KYIV (Reuters) - On Friday, Ukrainian officials announced their determination to finalize negotiations with the United States regarding a significant deal for joint exploitation of Ukraine's mineral resources. This agreement is part of a broader strategy aimed at solidifying the waning support from Washington as Ukraine continues to grapple with the ongoing war against Russia. Ukrainian leaders are optimistic that this partnership will enhance Ukraine's economic resilience and resource management in the long run.

While specific terms of the potential deal have yet to be established, officials in Washington have hinted at a framework that would grant the U.S. preferential access to Ukraine's abundant natural resources. This arrangement is expected to act as a form of repayment for military assistance that the U.S. has extended to Ukraine over the last three years, which has been crucial in bolstering Ukraine's defense capabilities in the face of Russian aggression.

Late Thursday evening, the U.S. and Ukrainian governments took a significant step forward by signing a memorandum of intent, which signifies their mutual commitment to advance the minerals deal. This memorandum is not just a procedural formality; it symbolizes a critical move towards mending the diplomatic ties between Kyiv and Washington, which appeared to be frayed following a tumultuous encounter in the Oval Office back in February. During that meeting, U.S. President Donald Trump and Ukrainian President Volodymyr Zelenskiy reportedly engaged in a heated exchange, raising concerns about the future of U.S. support for Ukraine.

As detailed in the memorandum published by the Ukrainian government on Friday, both parties aim to finalize discussions about the comprehensive deal by April 26, with plans to sign it shortly thereafter. Ukrainian Prime Minister Denys Shmyhal is scheduled to travel to Washington at the beginning of next week, where he will meet with U.S. Treasury Secretary Scott Bessent to collaborate on the specifics of the agreement.

Yulia Svyrydenko, Ukraine's first deputy prime minister and economy minister, expressed her enthusiasm about the signing on social media, stating, "We are pleased to announce this important step with our American partners." She further emphasized that the memorandum reflects the cooperative efforts of both teams and signifies their intent to finalize a beneficial agreement for both nations.

The memorandum lays the groundwork for an economic partnership and the establishment of an investment fund aimed at the reconstruction of Ukraine. However, the document is notably vague regarding the specifics of the agreement, particularly concerning the extent of U.S. access to Ukraine's mineral wealth and the potential revenue implications for both sides.

In a related statement, President Trump remarked, "We have a minerals deal, which I guess is going to be signed on Thursday," suggesting a positive outlook on the negotiations. However, it's important to highlight that Trump has previously voiced criticism regarding the financial aid packages provided by his predecessor, Joe Biden, alleging they were unfavorable deals for the United States. Trump has also hinted at a desire for closer relations with Moscow, which raises questions about U.S. foreign policy in the region as Russia continues its aggressive stance against Ukraine.

As of now, the White House has not provided additional details regarding the timing or content of the agreement, leaving many observers eager for clarity on how this will impact the ongoing conflict and the geopolitical landscape in Eastern Europe.