Kyiv and Washington are close to finalizing a landmark agreement that would grant the United States priority access to Ukraine’s valuable natural resources, according to a senior Ukrainian official. The deal, which has been under negotiation for years, is now moving forward rapidly and could be signed as soon as this week

The agreement centers on the extraction of strategically important minerals and rare earth elements, a sector in which Ukraine holds significant reserves. Under the proposed terms, the United States would receive a share of profits through royalty payments. A new draft of the deal notably avoids classifying U.S. aid to Ukraine as debt, easing Ukraine’s financial obligations.

U.S. President Donald Trump is reportedly advocating for the deal as a form of compensation for the aid extended to Ukraine under the Biden administration. The initiative reflects a broader U.S. interest in securing alternative mineral sources amid global supply chain tensions.

A prior dispute between Trump and Ukrainian President Volodymyr Zelensky had delayed progress on the agreement, but recent developments have reignited momentum. A Kyiv-based official involved in the discussions confirmed to AFP, “Negotiations are advancing swiftly.”

Bloomberg previously reported that since Russia’s full-scale invasion of Ukraine in early 2022, the U.S. has softened its position on repayment for aid, signaling a shift toward a more collaborative economic partnership.

U.S. Treasury Secretary Scott Besant, currently in Argentina, stated on Monday that the signing of the agreement could happen within the week, potentially marking a new phase in U.S.-Ukraine relations.