The Ukraine-US resources deal has been hailed as a „total economic partnership“ by Donald Trump’s Treasury chief. Russia claims the agreement is in its interests – but a Trump ally has warned Putin he could yet face tougher sanctions and tariffs. Listen to The World podcast as you scroll.
Thursday 1 May 2025 16:13, UK
Thanks for following our live coverage of the war in Ukraine.
We’ll be back soon with more updates.
Here’s a recap of today’s key developments:
Ukraine’s parliament is expected to ratify the signed mineral agreements with the US within a week, a senior US administration official has said.
The official added all three documents in the deal were signed on Wednesday, while also saying 50% of the royalties will come from new natural resource projects in Ukraine and not just rare earths.
For context: As we reported earlier today (see our post at 6.15), the US and Ukraine signed a „historic“ deal to establish an investment fund last night.
A senior Ukrainian official said on Wednesday that the US will make „direct financial contributions“ to the fund and „may also provide new assistance“ such as air defence systems for Ukraine.
In return, the US is set to get preferential access to any new deals concerning Ukraine’s mineral resources.
These images show servicemen of Ukraine’s Special Police Battalion preparing and launching a Vampire combat drone in Zaporizhzhia.
The Vampire is a heavy bomber drone used by Ukraine, particularly for night-time operations.
In this episode of Sky’s The World podcast, Yalda Hakim and Richard Engel discuss whether there is any rationale behind President Trump’s foreign policy – or whether he is just winging it?
They analyse the most recent volte-face on his attitude towards Volodymyr Zelenskyy and Vladimir Putin and the impact on his popularity at home.
You can watch the episode right here…
With so much reporting and such a long wait for it to be finally signed, it’s easy to feel a bit lost regarding this much-discussed new agreement between the US and Ukraine.
International affairs editor Dominic Waghorn has been taking a closer look at what the natural resources deal includes – and what it means.
Watch his breakdown here…
Ukraine’s military spokesman has pushed back on claims by Moscow that Kyiv killed civilians in occupied territory in Kherson.
Vladimir Saldo, Moscow’s man in the Russian-controlled parts of Kherson, earlier accused Ukraine of launching „a massive attack with FPV drones on civilians“ – killing seven (see 11.39 post).
Ukraine’s military spokesman has now said an attack was carried out in the area, but on military targets, not civilians.
The only people killed in the attack were Russian military personnel, he added.
Karoline Leavitt, Donald Trump’s press secretary, has just taken to the podium in the White House briefing room.
She immediately begins by discussing the natural resources deal signed by the US and Ukraine.
„We saw yet again why President Trump is our dealmaker-in-chief, we secured a historic agreement to establish the US-Ukraine reconstruction investment fund,“ she said.
„This is the first of its kind economic partnership for the reconstruction and long-term economic success of Ukraine that both will greatly benefit from.“
She says the US is securing a „free, peaceful and sovereign future for Ukraine“ through the deal.
As we’ve been reporting, at least two people were killed in Russian strikes on Odesa overnight.
We can bring you some more footage now of the aftermath in the Black Sea port Ukrainian city.
We can bring you some more reaction now from Scott Bessent, Donald Trump’s Treasury Secretary.
The US president put Bessent in charge of negotiations for the resources deal, signed yesterday.
As we’ve been reporting, the deal will give the United States preferential access to new Ukrainian minerals deals and fund investment in Ukraine’s reconstruction.
The agreement will show the „Russian leadership that there is no daylight between the Ukrainian people and the American people, between our goals“, Bessent said in an interview with Fox Business Network a little while ago.
„The American people don’t make any money if Ukrainians don’t prosper. So now we are fully aligned in terms of economics.
„And again, I think this is a strong signal to the Russian leadership, and it gives President Trump the ability to now negotiate with Russia on even a stronger basis,“ he said.
„This is a total economic partnership. This isn’t just rare earth, it’s infrastructure, it’s energy. So there’s the opportunity here for both sides to really win,“ Bessent added.
Below is a fairly considerable list of what the US and Ukraine say constitutes the assets within the confines of their new natural resources agreement.
It’s fairly extensive, and includes rare earths, metals and natural gas.
Look below…
Be the first to get Breaking News
Install the Sky News app for free
Ukraine war latest: Russia claims US has 'broken' Ukraine with 'historic' deal – but Trump ally gives Putin sanctions warning – Sky News
