Washington: Ukrainian Prime Minister Denys Shmyhal announced that previous aid provided by the US to Ukraine will not be part of the minerals deal currently under negotiation between Kyiv and Washington.

According to Anadolu Agency, Shmyhal stated on Telegram that agreements have been reached to exclude past assistance from the document, following his delegation's visit to the US to negotiate the deal. He emphasized the importance of defining clear red lines, ensuring the agreement complies with European obligations, and does not contradict Ukraine's Constitution and legislation. The deal will also require ratification by the Ukrainian parliament.

Shmyhal highlighted his meeting with US Treasury Secretary Scott Bessent, where both parties made good progress on the document with their legal teams. He noted that Ukraine has secured financing for the year, addressing a $39 billion deficit with help from international partners.

During the Spring Meetings of the International Monetary Fund and World Bank, Shmyhal discussed the restoration of Ukraine and long-term prospects with American business and financial partners. He confirmed $50 billion in income from frozen Russian assets is being allocated for budgetary needs, military spending, and rapid recovery.

Shmyhal stressed the goal of complete confiscation of Russian assets and proposed a special duty on Russian imports, with proceeds directed to the Ukraine Recovery Fund. His visit to the US follows the signing of a memorandum of intent between Kyiv and Washington for a potential critical minerals deal, aiming to establish an economic partnership and a fund for Ukraine's reconstruction.

The memorandum outlines Shmyhal-Bessent talks to support 'technical' discussions on creating the investment fund.