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US and Ukraine Sign Memorandum Paving Way for Controversial Mineral Deal
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.
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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WHO Warns Congo Ebola Outbreak Could Surpass West Africa’s Deadliest Epidemic
The World Health Organization has warned that an Ebola outbreak in eastern Congo is spreading so rapidly that it could surpass the devastating West African epidemic of 2014 to 2016, which killed more than 11,000 people.
WHO Director-General Tedros Adhanom Ghebreyesus said Wednesday that the current outbreak had already killed more than 2,000 people among over 4,300 reported cases. He warned that the outbreak is advancing faster than health authorities can contain it.
“At its current pace, it’s on track to eclipse the West African Ebola outbreak of 2014 to 2016,” Tedros told reporters.
The West African epidemic, which affected countries including Guinea, Liberia and Sierra Leone, recorded at least 28,000 cases and took about eight months to reach 1,000 deaths. The speed of the current outbreak has raised serious concerns among health officials and international agencies.
The Congo outbreak was officially declared on May 15, but genetic sequencing later showed that the virus had been circulating since February. This earlier start has complicated efforts to trace infections and establish effective control measures.
The outbreak is concentrated in eastern Congo, where conflict, poor infrastructure and limited healthcare capacity have made the response more difficult. The affected region lies close to the borders with South Sudan, Uganda and Rwanda.
Many new cases and deaths are being recorded in communities that are difficult for health workers to reach. Medical facilities in some areas lack equipment and resources, while some health workers have reportedly stopped working because of unpaid wages.
Misinformation has also created obstacles. Health officials say some communities remain suspicious of outsiders and are reluctant to visit clinics, making it harder to identify cases and prevent further transmission.
“The outbreak had a big head start, still way ahead of us, and we’re playing catch-up,” Tedros said.
Dr Abdirahman Mahamud, WHO director for health emergency alert and response operations, said the agency expects the outbreak to reach its peak within six months under a moderate scenario. He warned that the outbreak could continue for nine to 12 months under a more severe scenario.
The outbreak is caused by the Bundibugyo virus, a rare Ebola strain for which no approved vaccine or treatment is currently available. Clinical trials of two potential treatments began last month in Ituri, the province reporting the highest number of cases.
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