The United States and Ukraine have signed a preliminary memorandum outlining a rare-earth minerals partnership, a development signaling a deepening but increasingly transactional relationship between Washington and Kiev. The memorandum, announced on April 18 by Ukraine’s First Deputy Prime Minister and Minister of the Economy Yulia Sviridenko, marks a step toward a final Economic Partnership Agreement that is expected to be signed as early as next week, according to US President Donald Trump.

This new agreement arrives amid a complex backdrop of geopolitical tensions, debates over the costs of continued US involvement in Ukraine’s war with Russia, and increasing scrutiny of financial assistance given to Kiev. While the memorandum itself remains largely undisclosed, officials from both countries have described it as the foundation for a broader partnership involving mineral extraction, economic cooperation, and Ukraine’s post-war reconstruction.

Sviridenko characterized the signing of the memorandum as a pivotal achievement. “We are happy to announce the signing, with our American partners, of a Memorandum of Intent, which paves the way for an Economic Partnership Agreement and the establishment of the Investment Fund for the Reconstruction of Ukraine,” she wrote on April 18.

Though few specifics were provided, the deal reportedly centers on Ukraine’s rare-earth mineral deposits-resources that are crucial for high-tech industries, renewable energy, defense manufacturing, and global supply chains. Rare-earths, such as neodymium, dysprosium, and terbium, are essential in producing electric vehicle motors, wind........

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