Ukraine says it has signed the outline of a minerals deal with the U.S.

Ukraine said  that it had signed the basis of a minerals deal with the U.S., although the details of the outline agreement are yet to be announced.

Yulia Svyrydenko, Ukraine’s minister of economic development and trade, said both sides had signed a “memorandum of intent” that was the basis of an agreement that is likely to see Ukraine and the U.S. jointly develop the country’s natural resources.

“We are happy to announce the signing, with our American partners, of a Memorandum of Intent, which paves the way for an Economic Partnership Agreement and the establishment of the Investment Fund for the Reconstruction of Ukraine,” Svyrydenko posted on social media platform X.

“There is a lot to do, but the current pace and significant progress give reason to expect that the document will be very beneficial for both countries,” she added.

Svyrydenko, who is also Ukraine’s deputy prime minister, gave no further detail on the contents of the outline deal but posted images of her and U.S. Treasury Secretary Scott Bessent purportedly signing the agreement.

“We are happy to announce the signing, with our American partners, of a Memorandum of Intent, which paves the way for an Economic Partnership Agreement and the establishment of the Investment Fund for the Reconstruction of Ukraine,” Svyrydenko posted on social media platform X.

“There is a lot to do, but the current pace and significant progress give reason to expect that the document will be very beneficial for both countries,” she added.

Svyrydenko, who is also Ukraine’s deputy prime minister, gave no further detail on the contents of the outline deal but posted images of her and U.S. Treasury Secretary Scott Bessent purportedly signing the agreement.