Ukraine has agreed to the United States' terms for a substantial minerals deal, a Ukrainian government source has told Sky News.
The agreement, once signed, could unlock a new long-term partnership between Kiev and Donald Trump's White House, after weeks of increasingly tense clashes.
The source in question said there was a plan for the document to be signed "very soon," writes A2 CNN.
This could even be during a face-to-face meeting between Ukrainian President Volodymyr Zelenskyy and his American counterpart.
The agreement sets out the terms for creating a new fund to invest in Ukrainian minerals, rare earth materials and other valuable natural resources.
It is also announced that the agreement no longer contains an initial request by the United States for the right to exploit minerals worth $500 billion.
Zelenskyy had previously described such a high price as a "serious" conversation.
Trump, however, sees the minerals transaction with Ukraine as a fair way to recoup the billions of dollars the United States has given Kiev – through weapons and financial support – to aid its armed forces in their fight against Russia's full-scale invasion over the past three years.
The document also does not provide for a commitment from Washington to provide security guarantees to Ukraine in the wake of any ceasefire agreement with Vladimir Putin, something Kiev desperately needs and has been demanding.
More details about the new partnership are expected to be reflected in future discussions.
The two sides "have agreed on a framework agreement on how to create a fund that will be filled with a portion of minerals" and other natural resources, the government source said, speaking on condition of anonymity.
"This is a political step to ensure that revenues from the resources are used for the security and reconstruction of Ukraine."
The fund would consist of American money that would be invested in Ukraine's natural resources, with profits split between Washington and Kiev.
The Financial Times first reported on the agreement. It said the final version of the agreement was dated February 24.
"The minerals agreement is only part of the picture. We have heard many times from the US administration that this is part of a bigger picture," Olha Stefanishyna, Ukraine's deputy prime minister and justice minister who has been leading the negotiations, told the newspaper on Tuesday. (A2 Televizion)
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