The Ukrainian government has announced the signing of a memorandum of intent with the US, outlining a minerals deal between the two countries.

Economy Minister Yulia Svyrydenko stated that the agreement sets the stage for an economic partnership agreement and the establishment of an investment fund for the reconstruction of Ukraine.

The signing of the memorandum was conducted online with US Treasury Secretary Scott Bessent, who noted that the details of the deal are still being finalized.

The US officials have expressed hope that a final accord could be completed by the end of next week.

The agreement is expected to grant the US access to Ukraine's critical minerals, as well as oil and gas.

The investment fund for Ukraine's reconstruction is planned to be managed by Kyiv and Washington on equal terms.

Ukrainian President Volodymyr Zelensky had previously aimed to secure a US security guarantee in the event of a ceasefire deal with Russia through this agreement.

The negotiations were temporarily disrupted in February due to a public disagreement between Zelensky and former US President Donald Trump at the White House.