Ukrainian official denies that minerals deal turns past US aid into debt – Euromaidan Press

Ukraine’s Deputy Minister of Economy and Trade Representative Taras Kachka claimed during a television broadcast that ongoing negotiations regarding a mineral resources agreement between Ukraine and the United States do not involve recognizing previous US military assistance as debt.

Amid the ongoing Russo-Ukrainian war, President Trump is pressuring Ukraine to enter talks with Russia while pushing a colonial-style mineral deal that would grant the US exclusive access to critical resources, including rare earth elements. The latest known draft of the agreement reportedly required Ukraine to transfer 100% of profits from resource extraction to a US-controlled fund—plus a 4% annual interest—before accessing any returns itself. Additionally, the Trump administration retroactively reclassified all US aid provided since 2022 as a loan, demanding repayment, according to the draft.

According to Ukrinform, Kachka stated:

“There is no discussion about any new debt or transformation of previous assistance into debt. There is no ‘debt logic’ in either US or Ukrainian proposals. The conversation is about how much the US and Ukraine want to earn from investments,” Kachka stated.

According to the official, the mention of “debt” appeared in negotiations only once—in the version of the agreement text that was published in the media.

“Since then, there have been no attempts to formulate figures because everyone understands this is not debt but mutually beneficial cooperation,” Kachka claims.

Ukraine seeks changes to Trump’s proposed “lifetime-reparations” minerals deal

The official also revealed that the Ukrainian side has made proposals regarding military assistance, which now await a response from the United States. 

So far, the Trump administration has not only failed to announce any aid for Ukraine, but has even denied Kyiv’s request to purchase Patriot missiles.

On 17 April, Ukrainian and American representatives signed a memorandum confirming their joint intention to conclude a mutually beneficial economic partnership agreement between the two countries. The agreement itself still requires finalization and ratification by the parliaments of both nations.

Ukraine and US sign memorandum of intent on critical minerals cooperation

The draft text of the agreement was never officially released, and even members of Ukraine’s Parliament—responsible for ratifying such agreements—were never given access to review or discuss it.

The next round of mineral resources negotiations will begin in the United States on 24 April. Currently, technical issues and formulations regarding the operation of the future investment fund are being addressed.

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