Ukraine’s Shmyhal: Past US Aid Excluded from Minerals Deal Negotiations

Ukrainian Prime Minister Denys Shmyhal announced that previous aid provided by the United States to Ukraine will not be factored into the minerals deal currently being negotiated between Kyiv and Washington. In a statement on Telegram late Sunday, Shmyhal confirmed that agreements have been reached ensuring the document will only cover future arrangements, not assistance given prior to its signing.

During his visit to the United States, Shmyhal described an “important” meeting with US Treasury Secretary Scott Bessent, noting that their legal teams are making “good progress” on finalizing the document. He emphasized that Ukraine has firmly outlined its “red lines,” insisting the agreement must align with European commitments and comply with Ukraine’s Constitution and laws. The finalized deal will also require ratification by the Ukrainian parliament.

Shmyhal highlighted that Ukraine has secured financing for the entire year, covering a $39 billion deficit with support from international partners. He also stated that Ukraine has already secured $50 billion in revenue from frozen Russian assets, which are being used to meet budgetary needs, military expenses, and rapid recovery efforts.

However, he reiterated Kyiv’s ultimate goal of full confiscation of Russian assets and proposed a special duty on Russian imports, with proceeds directed to the Ukraine Recovery Fund. His visit follows the signing of a memorandum of intent with Washington, aimed at building an economic partnership centered on critical minerals and establishing a dedicated investment fund for Ukraine’s reconstruction.