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On Wednesday, March 26, U.S. Treasury Secretary Scott Bessent stated that Ukraine might sign a mineral resources agreement next week. He also emphasized that President Donald Trump would not hesitate to tighten sanctions against Russia if necessary.
In an interview with American media, cited by Reuters, Bessent was asked about the progress of negotiations regarding the mineral extraction deal.
“We have submitted the finalized economic partnership document, which is currently under review by the Ukrainians. We hope to move forward with full discussions and possibly even secure signatures next week,” he said.
Regarding sanctions against Russia, the U.S. Treasury Secretary noted that “this will depend on the next steps taken by the Russian leadership, whether sanctions will be strengthened or eased.”
“President Trump, I believe, will not hesitate to tighten sanctions if it gives him an advantage in negotiations,” Bessent added.
Following negotiations in Jeddah, Saudi Arabia, on March 11, the presidents of the U.S. and Ukraine reached an agreement on the development of Ukraine’s critical mineral resources.
Ukraine’s Deputy Prime Minister for European and Euro-Atlantic Integration, Olha Stefanishyna, later confirmed that the framework agreement with the U.S. on mineral resources was finalized and that Ukraine was ready to sign it at any time.
On March 24, Trump announced that a rare earth metals agreement with Ukraine would be signed “soon.” Ukrainian President Volodymyr Zelenskyy revealed that the U.S. had proposed a new version of the mineral resources agreement, which would immediately include parliamentary ratification beyond the initial framework deal.
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