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US and Ukraine Sign Memorandum Paving Way for Controversial Mineral Deal

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Ukraine and the United States have signed a preliminary memorandum of intent aimed at finalizing a far-reaching economic partnership and reconstruction investment fund focused on mineral exploitation. The document, seen by Euronews, marks a significant step toward what could be a landmark agreement shaping Ukraine’s post-war economic recovery.

The memorandum, signed on Thursday by Ukraine’s First Deputy Prime Minister Yulia Svyrydenko and US Treasury Secretary Scott Bessent, sets the stage for high-level negotiations in Washington between April 21 and 26. According to the document, Ukrainian Prime Minister Denys Shmyhal will travel to Washington during that week to lend political backing to the final round of technical discussions.

The goal is to conclude talks by April 26 and sign the agreement shortly afterward. “Negotiating teams are expected to report on progress by April 26, 2025, with the aim of completing discussions by that date and signing as soon as possible,” the document reads.

The proposed agreement is not without controversy. It outlines the creation of a joint investment fund that would give the US considerable influence over Ukraine’s critical infrastructure and natural resources. The fund’s board would be made up of five members—three appointed by the US and two by Ukraine—effectively granting Washington veto power over major decisions.

Under the deal, Ukraine would be required to submit all major infrastructure and resource projects—including those involving roads, ports, railways, and mineral extraction—to the fund for approval. If rejected, Kyiv would be barred from offering the same projects to other countries under more favorable terms.

Furthermore, the US would receive all profits generated by the fund and a 4% annual return until the total military and financial assistance—estimated at €114 billion by the Kiel Institute for the World Economy—is repaid. This “payback” structure has been championed by former President Donald Trump, who remains a key figure in ongoing US foreign policy despite current tensions with Ukrainian leadership.

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The agreement also notes potential legal conflicts with Ukraine’s EU accession obligations and international financial commitments. However, the US pledged not to interfere in those matters. “The United States respects Ukraine’s intention to avoid conflicts in the drafting of the agreement with Ukraine’s obligations under European Union accession,” the document states.

The deal comes amid growing tensions between the US and Ukraine. Relations have deteriorated since Trump initiated backchannel talks with Russian officials to end the war, reportedly excluding Ukrainian President Volodymyr Zelenskyy from the process. A heated Oval Office meeting between Trump and Zelenskyy in February only deepened the rift.

Meanwhile, US Secretary of State Marco Rubio was in Paris this week to consult with European allies. Speaking to reporters Friday, Rubio warned that Washington could pull out of peace negotiations if no meaningful progress is achieved soon.

As talks in Washington approach, the proposed investment fund is expected to dominate headlines—and draw scrutiny over its implications for Ukraine’s sovereignty and economic independence.

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US Conducts Strike on Alleged Drug-Smuggling Facility, Marks Escalation in Operations

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US President Donald Trump said Monday that the United States conducted a strike on a shore facility used for loading boats with drugs, marking an escalation beyond previous operations targeting vessels in international waters. The president declined to specify the location or which agency carried out the strike.

“There was a major explosion in the dock area where they load the boats up with drugs,” Trump said while meeting Israeli Prime Minister Benjamin Netanyahu in Florida. “They load the boats up with drugs, so we hit all the boats and now we hit the area. It’s the implementation area. There’s where they implement. And that is no longer around.”

Trump offered few details about the strike, including whether it was conducted by the US military or the CIA. “I know exactly who it was, but I don’t want to say who it was. But you know it was along the shore,” he added.

The operation represents a shift in Trump administration tactics, which have previously focused on striking suspected drug-smuggling boats in international waters of the Caribbean and eastern Pacific. According to administration figures, at least 107 people have been killed across 30 strikes since early September. On Monday, the US conducted another strike against an alleged narcoboat in the eastern Pacific, resulting in two fatalities.

Trump initially referenced the strike during a call with WABC radio host John Catsimatidis on Friday. “I don’t know if you read or saw, they have a big plant or a big facility where they send the, you know, where the ships come from,” he said. “Two nights ago, we knocked that out. So, we hit them very hard.”

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Unlike previous maritime operations, which were often announced by US Defence Secretary Pete Hegseth or military social media accounts, no formal announcement was made regarding the facility strike. The Pentagon referred questions to the White House, which did not immediately provide additional information. Venezuela’s government also declined to comment.

Trump has long indicated that US operations could move beyond boat strikes to land-based missions in South America, including Venezuela. Recent weeks have seen the deployment of US warships to the region, increased military presence, and the seizure of two oil tankers, with a third vessel pursued. The administration has characterized the campaign as part of an “armed conflict” against drug cartels to stop narcotics flowing into the United States.

Venezuelan President Nicolás Maduro has dismissed the US actions, insisting that the real aim of American operations is to pressure him from office rather than target drug trafficking.

The facility strike signals a new phase in US operations in the region, demonstrating a willingness to extend military actions onto land, raising questions about potential further escalation in South America.

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One Dead, Three Missing After Migrant Boat Sinks Off Samos

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One person has died and three remain missing after a migrant boat sank near the Greek island of Samos early Monday, Greek coast guard authorities reported. Twenty-six migrants reached the shore in the Petalides area and alerted authorities that others were still at sea.

The incident occurred during the early morning hours, prompting an immediate search and rescue operation. Coast guard vessels, a helicopter, a private boat, and ground teams joined the efforts. During the operation, the body of a woman was recovered, while crews continued searching for the three missing migrants. The nationalities of those involved have not been disclosed.

Greece has served as a major entry point for migrants and refugees into the European Union since 2015. Over one million arrivals have been recorded through Greek territory, though hundreds have died attempting the often perilous sea crossing.

Data from Frontex, the European Border and Coast Guard Agency, shows that irregular migration flows through the eastern Mediterranean fell by 30 percent in the first 11 months of 2025 compared with the same period in 2024. Around 46,200 migrants arrived in Greek waters this year. However, Frontex noted a sharp increase in activity along the Libya-Crete route, with detections rising by 272 percent year-on-year.

The sinking off Samos is part of a series of recent migrant tragedies in Greek waters. On 6 December, Greek authorities recovered 17 bodies and rescued two migrants from a vessel off Crete. Two days later, a 12-year-old boy died after being struck by a boat propeller when smugglers forced migrants to jump from a speedboat near Samos.

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A week later, another vessel carrying 31 migrants crashed into rocks off Samos. Twenty-eight people were rescued, while three remained unaccounted for.

The Eastern Mediterranean continues to be a dangerous route for migrants seeking entry into Europe. Authorities have repeatedly warned of the risks posed by overcrowded and unseaworthy vessels operated by smugglers. Local coast guard officials have emphasized the need for vigilance, particularly in areas near islands like Samos and Crete, which lie close to key migrant corridors from Turkey and Libya.

Search and rescue teams remain on alert, patrolling the waters around Samos to locate the three missing migrants and prevent further casualties.

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Flood Alert Issued in Elbląg as River Levels Surge

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Polish authorities issued a flood alert in the northeastern city of Elbląg on Saturday night after water levels in the Elbląg River surpassed the warning threshold of 590 centimetres, Mayor Michał Missan said. The rise was driven by strong northwesterly winds that pushed water from the Vistula Lagoon upstream, creating a backwater effect that increased the risk of flooding along the river.

Emergency services responded by deploying flood barriers in vulnerable areas, while hydrological gauges throughout the region continued to register levels above the warning mark. Mayor Missan said that all relevant services remained on standby and that authorities were closely monitoring the situation. Residents were urged via social media to exercise caution, though no evacuation orders were issued.

The Polish Institute of Meteorology and Water Management also issued warnings for strong winds across the region, with icy conditions expected to persist and potentially complicate emergency operations. Authorities cautioned that the situation could change rapidly, and further interventions may become necessary if weather conditions worsen.

Elbląg sits along the eponymous river between Druzno Lake and the Vistula Lagoon and is part of Żuławy Wiślane, a Vistula River delta plain. Large sections of the area are below sea level, making it particularly vulnerable to flooding. Local officials have noted that the combination of wind-driven water movement and the city’s low-lying geography can quickly elevate flood risks.

Despite the heightened alert, no major flooding was reported overnight, and residents largely remained in their homes. Authorities emphasized that continuous monitoring and the deployment of temporary barriers were crucial to managing the rising waters and preventing damage to infrastructure.

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Mayor Missan said the city’s preparedness measures were in place to respond quickly to any escalation, and he urged citizens to stay informed through official channels. Local emergency services maintained a visible presence throughout the night, checking critical points along the river and readying additional resources if needed.

The situation highlights the challenges faced by cities like Elbląg, where riverine and lagoon systems intersect, and weather patterns can rapidly influence water levels. Officials said the alert would remain in effect as long as the river levels remained high and wind conditions persisted.

Residents were reminded to avoid walking or driving near the riverbanks and to follow any guidance from municipal authorities. Authorities confirmed that contingency plans for potential evacuations were prepared, but at present, no large-scale displacement was necessary.

The flood alert serves as a precautionary measure aimed at safeguarding lives and property in an area historically prone to water-related hazards.

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