U.S. President Donald Trump has previously described such a deal as reimbursement for the billions in American aid funneled to Ukraine since Russia launched its full-scale invasion in 2022.
The terms of the deal include assurances that Ukraine will not need to pay back prior aid as debt and that the U.S. will contribute to a reconstruction fund.
Ukrainian Prime Minister Denys Shmyhal said on national television that the deal was expected to be signed in the next 24 hours.
“Yes, we were planning to sign the deal today,” the senior official said. “The United States also agreed to contribute to the reconstruction fund. For example, if the U.S. gives Ukraine air defense systems, their money […] can be considered as a contribution to the fund.”
Ukrainian President Volodymyr Zelenskyy previously refused to sign two draft agreements proposed by Trump’s administration, saying the terms — which included Kyiv giving up minerals, oil and gas revenues, plus earnings from ports and other infrastructure to the tune of $500 billion — were too harsh.
“I will not sign what 10 generations of Ukrainians will have to pay back,” Zelenskyy insisted in February.
Trump and Zelenskyy were set to sign a deal in February before the discussions were spectacularly derailed by a heated Oval Office meeting between the two leaders.
This story has been updated.
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