Kiev/Washington, 26 February 2025 (dpa/MIA) - After days of dispute, Kiev and Washington have reportedly agreed on a deal giving the US access to Ukrainian minerals, although there has been no official confirmation so far.

Ukrainian online news outlet Ukrainska Pravda reported that a new agreement has been reached on US access to raw materials in the embattled country, in return for Washington's support, adding that it had seen the draft agreement.

As well as rare earths, the deal also reportedly covers US access to Ukrainian oil and gas.

Ukrainian President Volodymyr Zelensky initially refused to sign a contract, leading to a dispute in recent days, as US President Donald Trump had insisted on a deal as compensation for Washington helping Ukraine to fend off Russia's full-scale invasion.

In Britain, the Financial Times newspaper also reported that a deal has been reached.

According to the reports, the version of the agreement ready to be signed makes no mention of the US security guarantees that Zelensky had previously insisted on.

The United States would also not have full control over a planned investment fund for Ukraine's reconstruction that would receive revenues from natural resource extraction, the reports stated.

Instead, the fund would be jointly managed by the US and Ukraine. Accordingly, 50% of the proceeds from the sale of raw materials and associated infrastructure would go into the fund.

Both Ukrainska Pravda and the Financial Times also reported that a limited amount of money from Ukraine would go into the fund until the sum of $500 billion has been reached.

The Financial Times report said that Washington backed down from the toughest demands that Zelensky had criticized, adding that Kiev had negotiated favourable conditions for Ukraine.

Under the agreement, the fund is to finance projects in Ukraine, the report said. It is separate from the income from the sale of raw materials, which already flows into the state budget.

The agreement is also not to contradict other international agreements, such as those between Ukraine and the European Union.

It is unclear who will sign the deal. Ukrainian media reported that Kiev's Foreign Minister Andrii Sybiha and his US counterpart Marco Rubio were being considered, the report said.

But the Financial Times reported that Zelensky would sign the agreement at a meeting with Trump. The date for such a meeting is not known. The details of how the future fund would work also still need to be worked out, the report said.

Trump on Tuesday told reporters at the White House that Zelensky wanted to visit Washington on Friday.

"I hear that he's coming on Friday, certainly it's okay with me, if he'd like to," Trump said at the White House, without providing details about the possible agreement.

Photo: EPA