Summary
Here’s a wrap-up of the day’s key events:
Ukraine has signed a deal to share revenues from the future sale of minerals and rare earths with the US after months of fraught negotiations. The agreement “signals clearly to Russia that the Trump administration is committed to a peace process centered on a free, sovereign, and prosperous Ukraine over the long term,” US treasury secretary Scott Bessent said in announcing it.
Donald Trump said the minerals deal may give US ‘much more’ than Washington spent on Ukraine aid. Speaking over the phone, the US president said: “We made a deal where we get much more in theory than the $350bn.”
Ukrainian foreign minister Andrii Sybiha said in a social media update that he spoke with the EU’s foreign policy chief Kaja Kallas about the Ukraine-EU agenda and the minerals deal signed last night. He said the agreement “marks an important milestone in Ukraine–US strategic partnership aimed at strengthening Ukraine’s economy and security.”
Ukrainian and Russian civil society leaders have called for the unconditional release of thousands of Ukrainian civilians being held in Russian captivity, pushing for world leaders to make it a central part of any peace deal. Oleksandra Matviichuk, head of the Kyiv-based Centre for Civil Liberties, which won the 2022 Nobel peace prize, said most of the discussion on ending the conflict, led by Donald Trump’s administration, focused solely on territories and potential security guarantees.
Ukrainian emergency services reported that a Russian drone attack on the Black Sea port city of Odesa killed two people and injured 15 others. AP reported local authorities saying the barrage struck apartment buildings, private homes, a supermarket and a school.
Responding to the Odesa attack, Ukrainian president Volodymyr Zelenskyy reiterated his call to put more pressure on Russia to stop continuing attacks on Ukraine. Writing on Telegram, he said: “There were also our proposals – at the very least, to refrain from striking civilian infrastructure and to establish lasting silence in the sky, at sea, and on land. Russia has responded to all this with new shelling and new assaults,” he said.
Donald Trump has approved the first export of American military equipment to Ukraine since assuming the presidency, The Times has reported, following the signing of the long-anticipated minerals deal between Washington and Kyiv. The Trump administration informed the US Congress that it plans to export defence-related products to Ukraine through direct commercial sales (DCS) of $50m or more, the Kyiv Post said.
There is cautious optimism in Kyiv over the terms of the long-discussed US-Ukraine minerals deal, signed on Wednesday, which appear to be more advantageous for Ukraine than most had expected.
Many details are still to be finalised and will be written into a yet-to-be-signed further technical agreement, suggesting that the long saga over the deal may not be quite over. But Ukrainian analysts have noted that Kyiv has apparently been able to extract some major concessions, despite Donald Trump’s repeated claim that Ukraine “has no cards” to play.
“Ukraine held the line. Despite enormous pressure, every overreaching demand from the other side was dropped. The final deal looks fair,” Tymofiy Mylovanov, president of the Kyiv School of Economics, wrote on X.
For the full story, click here:
Here are some details released by the White House on the latest mineral deal struck between the US and Ukraine.
The White House, which described the deal as a “first-of-its-kind partnership for the reconstruction and long-term economic success of Ukraine,” said that:
The deal establishes a fund that will receive 50% of royalties, license fees and other similar payments from natural resource projects in Ukraine
The natural resource projects will include minerals, hydrocarbons and related infrastructure development
If the US decides to acquire these resources for itself, it will be given “first choice to either acquire them or designate the purchaser of our choice”
The money will be invested in new projects in Ukraine which will “generate long-term returns for both the American and Ukrainian peoples”
The deal will be controlled by a company with equal representation of three Ukrainian and three American board members
According to the White House readout, “No state, company, or person who financed or supplied the Russian war machine will be allowed to benefit from the reconstruction of Ukraine, including participation in projects supported by fund resources.”
US secretary of state Marco Rubio hailed France for rallying support for a Ukraine peace deal but said that European allies need to step up with real resources and political will to help the war, Reuters reports, citing the US state department.
In a statement on Thursday following Rubio’s phone call with his French counterpart Jean-Noël Barro, the US state department said:
“Secretary Rubio commended France’s leadership in rallying European and Ukrainian support for a sustainable deal but made clear that words are not enough.”
President Volodymyr Zelenskyy on Thursday hailed a minerals deal with the US as a truly equal and fair agreement, and the first result of his Vatican meeting with US president Donald Trump on the sidelines of the funeral of Pope Francis.
Zelenskiy said the minerals deal opens the way for the modernisation of industries in Ukraine. Zelenskyy has been under pressure to show results from courting Trump, who has shifted US policy towards supporting Russia’s account of the war in Ukraine and has frequently criticised the Ukrainian leader.
Trump approves first export of US military equipment to Ukraine since assuming presidency - report
Donald Trump has approved the first export of American military equipment to Ukraine since assuming the presidency, The Times has reported, following the signing of the long-anticipated minerals deal between Washington and Kyiv.
The Trump administration informed the US congress that it plans to export defence-related products to Ukraine through direct commercial sales (DCS) of $50m or more, the Kyiv Post said.
The notification, issued on Tuesday, came just a day before the minerals agreement was formally signed.
A source close to the Ukrainian government told The Times:
I think it’s significant as a first step of goodwill from Trump after we did what he wanted from us.
Updated
Moscow on Thursday accused Kyiv of attacking a busy market in Russian-controlled southern Ukraine in a drone strike it said had killed at least seven civilians and wounded more than 20, while Kyiv said the attack had killed only military personnel.
Reuters could not verify either side’s assertions.
Vladimir Saldo, the region’s Russian-installed governor, said the drones had struck a market in the town of Oleshky at about 9.30am local time on what was a public holiday.
He and two social media users released videos purporting to show some of the incident. Reuters confirmed the location as Oleshky, but could not independently verify when they were filmed.
One of the videos showed an explosion going off beside one in a group of low-slung buildings. Another video shows at least two bodies lying on the ground beside the structure; it was not possible to tell who they were.
Vladyslav Voloshyn, a spokesperson for the Ukrainian military, said Kyiv had targeted Russian troops in part of Kherson region controlled by Moscow and that only military personnel, and not civilians, had been killed.
Russia’s foreign ministry called on the international community to condemn what it said was an act of terrorism.
Ukraine’s parliament is expected to ratify the US-Ukraine minerals deal, which was signed on Wednesday, within a week, senior Trump administration officials told reporters on Thursday.
They added that the Ukraine deal could be a model for other international agreements going forward, Reuters reported.
The general partnership overseeing the deal is domiciled in Delaware, they said.
The White House press secretary, Karoline Leavitt, said the US-Ukraine minerals deal was the “first of its kind, economic partnership for the reconstruction and long-term economic success of Ukraine”.
The Ukrainian military said on Thursday it had carried out an attack on Russian troops in a Russian-occupied part of the Kherson region in southern Ukraine, and that the strike killed only military personal and not civilians.
The region’s Russian-installed governor said earlier on Thursday that at least seven people had been killed and more than 20 wounded in a Ukrainian drone attack on a busy market in the town of Oleshky.
… and on that note, that’s a wrap from me, Jakub Krupa, but I leave you with Tom Ambrose who will guide you through the rest of the day and bring you all the latest updates on the minerals deal and Ukraine.
White House spokesperson hails Ukraine deal as 'historic' and 'first of its kind'
The White House press secretary Karoline Leavitt is now taking questions from the media at the morning press briefing and she has a brief comment on the US-Ukraine minerals deal signed last night.
She said the agreement shows “why … Trump is our deal maker in chief,” hailing it as a “historic” development with “a first of its kind economic partnership for the reconstruction and long term economic success of Ukraine.”
“President Trump has been clear from the beginning he wants the killing in this brutal war to end. This agreement shows how invested the president is in securing a truly lasting peace,” she said.
If you’re wondering why it’s so quiet today, it’s because its the May Day, or the International Workers’ Day, or Labour Day, which is a public holiday in many countries around Europe.
In France, some 250 marches and rallies have been planned for today, from far-left to far-right …
In Poland, it’s a bank holiday too, and also an opportunity for some rallies just over two weeks before the country’s presidential elections…
There are also rallies in other countries, including Greece…
… Italy …
… and Spain …
… but it looks like the atmosphere is pretty relaxed in Zagreb, Croatia.
President Zelenskyy also issued a separate update on his yesterday’s meetings with Luxembourg’s deputy prime minister and foreign minister Xavier Bettel an defence minister Yuriko Backes.
Writing alongside a video showing how he welcomed Bettel with a big bear hug for the talks, he said:
“We are grateful for all the expressions of support for our state, as well as for the new aid packages aimed at supporting Ukraine’s energy sector and defense capabilities.”
He added they discussed “discussed Luxembourg’s participation in the reconstruction of the Kryvyi Rih district and the city of Kryvyi Rih, as well as our European integration.”
Repeating Kyiv’s key message, he said that “Ukraine is ready for a full and unconditional ceasefire for a sufficient period, which should be the first step toward peace.”
“We are ready for negotiations, but only after the killing of our people stops. And we are grateful to everyone who supports us in this,” he said.
Zelenskyy calls for 'strong push' to pressure Russia into ceasefire after Odesa attack
Responding to the Odesa attack, Ukrainian president Volodymyr Zelenskyy reiterated his call to put more pressure on Russia to stop continuing attacks on Ukraine.
Writing on Telegram, he said that “for over 50 days now, Russia has been ignoring the American proposal for a full and unconditional ceasefire.”
“There were also our proposals – at the very least, to refrain from striking civilian infrastructure and to establish lasting silence in the sky, at sea, and on land. Russia has responded to all this with new shelling and new assaults,” he said.
He added:
That is why a strong push for diplomacy is needed — continued pressure on Russia is essential to force it into silence and negotiations.
The more effective the sanctions, the more incentives Russia will have to end the war.
The stronger Ukraine’s defense and our Air Defense Forces are, the more lives we will be able to save – and the sooner we will be able to guarantee lasting security.
I thank everyone around the world who is helping.
Russian attack on Odesa kills two, injures 15, authorities say
Earlier today, Ukrainian emergency services reported that a Russian drone attack on the Black Sea port city of Odesa killed two people and injured 15 others.
AP reported local authorities saying the barrage struck apartment buildings, private homes, a supermarket and a school.
Updated
US minerals deal 'marks important milestone,' Ukraine's foreign minister says
Ukrainian foreign minister Andrii Sybiha said in a social media update that he spoke with the EU’s foreign policy chief Kaja Kallas about the Ukraine-EU agenda and the minerals deal signed last night.
He said the agreement “marks an important milestone in Ukraine–US strategic partnership aimed at strengthening Ukraine’s economy and security.”
Sybiha added:
“We discussed recent diplomatic efforts and the next steps to achieve a fair and lasting peace. We also exchanged updates on the preparations for the EU foreign ministers’ visit to Ukraine on 9 May. Grateful to the EU for its solidarity and steadfast support.”
Map of Ukraine's mineral resources
Here’s a handy map to help us understand what’s the minerals deal with the US about, showing Ukraine’s mineral resources…
Release of Ukrainian prisoners in Russia key to any peace deal, rights groups say
Ukrainian and Russian civil society leaders have called for the unconditional release of thousands of Ukrainian civilians being held in Russian captivity, pushing for world leaders to make it a central part of any peace deal.
Oleksandra Matviichuk, head of the Kyiv-based Centre for Civil Liberties, which won the 2022 Nobel peace prize, said most of the discussion on ending the conflict, led by Donald Trump’s administration, focused solely on territories and potential security guarantees.
“It’s a huge problem that we lose the human dimension in this political process. Only with solving the human dimension can we find a path to sustainable peace,” she said.
On Tuesday, the Guardian and its reporting partners launched the Viktoriia project, an investigation into the death of the Ukrainian journalist Viktoriia Roshchyna in Russian custody, as well as a report on the systemic torture and mistreatment of thousands of civilian detainees seized by Russian occupying forces.
The European Commission on Wednesday condemned the killing, with foreign affairs spokesperson Anitta Hipper saying it showed life under occupation “remains a constant threat to Ukrainians”.
12 EU countries ask for fiscal flexibility to spend more on defence
Meanwhile in Brussels, a dozen EU countries, including Germany and Poland, have requested flexibility in the bloc’s fiscal rules to ramp up spending on defence, in a step towards rearmament of the continent.
Ahead of a midnight deadline on Wednesday, 12 EU member states wrote to the European Commission with a request to activate the national escape clause in the bloc’s fiscal rules, which will allow them to increase their deficits in order to increase defence spending.
The 12 countries are Belgium, Denmark, Estonia, Finland, Germany, Greece, Hungary, Latvia, Poland, Portugal, Slovakia and Slovenia. A further four countries, Bulgaria, the Czech Republic, Croatia and Lithuania, have indicated they plan to make the same request.
After Donald Trump signalled US reluctance to underwrite Europe’s defence, European Commission President Ursula von der Leyen opened the door to flexibility in the bloc’s stability and growth pact in a bid to increase defence spending by €800bn.
EU officials estimated in March that if every member state uses the flexibilities to the maximum, defence spending would increase by €650bn over four years. The commission has also announced a €150bn EU-backed loans scheme.
It remains unclear how close the EU will come to the headline number. Officials will be encouraged that Germany, Europe’s biggest economy, is among the number wanting to spend more, but other large member states have so far held back, notably France, Italy and Spain. All three countries have high government debts and are thought to be reluctant to deepen them, even if allowed under EU fiscal rules.
Valdis Dombrovskis, the European commissioner for the economy, said the EU had taken “a decisive step towards boosting its defence spending and readiness”, adding that the commission remained open for more requests.
The requests now have to be examined by the commission, then approved by EU finance ministers, with a decision expected in early July.
Morning opening: Read the small print
Ukraine and the US signed a long-awaited minerals deal last night, signaling a major step forward in bilateral relations. But the full text of the agreement, including key details on the contentious small print issues that dragged out negotiations, has yet to be made public.
Ukrainian prime minister Denys Shmyhal suggested yesterday that the process of ratifying the agreement could start today, with party consultations. Expect more details to emerge.
For now, my colleague Andrew Roth reported that Ukrainian officials have divulged some details of the agreement which they portrayed as equitable and allowing Ukraine to maintain control over its natural resources.
Shmyhal, said that the fund would be split 50-50 with between the US and Ukraine and give each side equal voting rights.
Ukraine would retain “full control over its mineral resources, infrastructure and natural resources,” he said, and would relate only to new investments, meaning that the deal would not provide for any debt obligations against Ukraine, a key concern for Kyiv. The deal would ensure revenue by establishing contracts on a “take-or-pay” basis, Shmyhal added.
Shmyhal on Wednesday described the deal as “truly a good, equal and beneficial international agreement on joint investments in the development and recovery of Ukraine”.
On its face, the deal could be a consequential moment in this war as the US has now a stake in Ukraine’s success and a role to play in its reconstruction and for a business-driven White House, as Donald Trump would no doubt want to think of his administration, this could change the equation.
Unsurprisingly, Russia sees it differently, though, with former president Dmitry Medvedev playing its significance down and presenting the agreement as an act of Ukrainian subjugation to the US, as he argues that Trump has “finally broken the Kyiv regime into paying for American aid.”
We should hear from the Kremlin at some point today, and there will be more reactions from across Europe, too – even as some countries are already enjoying a long May bank holiday weekend.
It’s Thursday, 1 May 2025, it’s Jakub Krupa here, and this is Europe Live.
Good morning.
Trump says minerals deal may give US 'much more' than Washington spent on Ukraine aid
US President Donald Trump has repeatedly said how much Washington’s support for Kyiv in its fight against Russia has drained American resources.
He has said that the US has spent around $350bn (£263bn) on Ukraine aid, though the actual figure is thought to be lower.
“Biden handed them $350bn between cash and military equipment… and we got nothing,” Trump told a town hall on the NewsNation network after the minerals deal was signed.
Speaking over the phone, the US president said: “We made a deal where we get much more in theory than the $350bn.”
Trump said he wants to help secure a lasting peace agreement quickly to stop the deaths of all the soldiers – from both sides – and civilians.
Updated
Agence France-presse has produced an interesting “what we know” about the deal so far.
Why the deal?
Donald Trump had demanded compensation for US aid given to Ukraine under Joe Biden’s administration since Russia’s February 2022 invasion.
The US leader had sought $500bn in compensation - around four times the amount that the United States has paid out to Ukraine, which currently stands at $120bn, according to the Kiel Institute, a German economic research body.
Zelenskyy rejected that, saying “ten generations” of Ukrainians would have to pay it off.
Ukraine has agreed to the minerals deal as a way to secure long-term US investment, as Trump has drastically scaled back US security commitments around the world.
Trump has balked at offering security guarantees to Ukraine and rejected its bids to join Nato - but he has said a US presence on the ground would benefit Ukraine.
How will it work?
The two countries will establish a joint Reconstruction Investment Fund, with each side having equal voting rights.
The fund’s profits will be invested exclusively in Ukraine, which will not be asked to pay back any “debt” for to the US.
Ukraine will have “full control over its subsoil, infrastructure and natural resources,” Prime Minister Denys Shmyhal said.
The deal will exclusively finance mineral, oil and gas projects as well as infrastructure and processing in Ukraine for the first 10 years, after which “profits may be distributed between the partners”.
What resources does Ukraine have?
Ukraine holds some 5% of the world’s mineral resources and rare earths, according to various estimates.
But work has not yet started on tapping many of the resources and a number of sites are in territory now controlled by Russian forces.
Ukraine also has around 20% of the world’s graphite, an essential material for electric batteries, according to France’s Bureau of Geological and Mining Research, and is a major producer of manganese and titanium.
It also says it possesses one of the largest lithium deposits in Europe - yet to be extracted.
What does US support mean for Ukraine?
Ukraine has said any deal would need to include long-term and robust security guarantees that would deter Russia from attacking again.
But according to the text published by media, the only security clause puts the United States under no obligation – nor does the deal mention weapons.
It simply says that the US “supports Ukraine’s efforts to obtain the security assurances necessary to build a lasting peace”.
However, a US Treasury statement notably mentioned Russia’s “full-scale invasion” of Ukraine – diverging from the Trump administration’s usual formulation of a “conflict” for which Kyiv bears a large degree of responsibility.
Treasury Secretary Scott Bessent said the deal showed “that the US has an economic interest in Ukraine”.
“It’s a signal to the Russian leadership. It’s also a signal to the American people that we have a chance to participate, get some of our... the funding and the weapons compensation for those,” he told Fox News.
Ukraine’s air force said on Thursday that Russia launched five ballistic missiles and 170 drones during an overnight attack, Reuters reports.
The air force shot down 74 drones while another 68 did not reach their targets likely due to electronic warfare countermeasures, it said.
It did not specify what happened to the missiles or remaining 28 drones.
Democratic congressman Gregory W Meeks, a ranking member of the house foreign affairs committee, called the minerals agreement “Donald Trump’s extortion of Ukraine deal”.
In a statement, he said:
I hope the administration can now turn to the real roadblock for peace: Vladimir Putin. President Zelenskyy has shown time and again that he is willing to negotiate to work towards a sustainable peace; now is the time for Trump to put the pressure on Putin where it belongs …
Unfortunately, Donald Trump has so far demonstrated nothing but weakness by capitulating to Putin every step of the way, with nothing to show for it in return, while fixating his attacks on Zelensky and Ukraine. It should be news to no one that Vladimir Putin is a bully and will only respond to strength, not groveling.
US secretary of state Marco Rubio, who has threatened to step back from his mediation efforts between Russia and Ukraine over the past week, has called the minerals deal a “milestone in our shared prosperity and an important step in ending this war”. In a post on X he wrote:
Thanks to @POTUS’s leadership, today the U.S. and Ukraine signed the Reconstruction Investment Fund Agreement—a milestone in our shared prosperity and an important step in ending this war.
Two people have been killed and another five injured in a Russian drone attack on the Black Sea port city of Odesa, the regional governor, Oleh Kiper, said early on Thursday.
In a post on Telegram, Kiper said the attack had targeted residential buildings, a school, a supermarket, and cars. He said:
Fires broke out in some places, which our rescuers are extinguishing. Two people died and five others were injured as a result of the strike. Medics are providing all necessary assistance to the victims.
He posted pictures of a high-rise block apparently damaged in the attack and of firefighters using a crane to put out flames.
Speaking at a town hall with NewsNation after the deal was signed, Donald Trump said he told Ukrainian President Volodymyr Zelenskyy during a recent meeting at the Vatican that signing the deal would be a “very good thing” because “Russia is much bigger and much stronger.”
Asked whether the minerals deal is going to “inhibit” Russian leader Vladimir Putin, Trump said “well, it could.”
UK foreign secretary David Lammy has welcomed the deal between the US and Ukraine. In a post on X he said:
The UK welcomes steps taken by the US and Ukraine to sign an economic partnership. The UK’s support for Ukraine remains steadfast. With our 100-year partnership, we are deepening economic and security ties for the future generations of both of our countries.
Opening summary
Hello and welcome to our live coverage of Ukraine, which has signed a deal to share revenues from the future sale of minerals and rare earths with the US after months of fraught negotiations.
The agreement “signals clearly to Russia that the Trump administration is committed to a peace process centered on a free, sovereign, and prosperous Ukraine over the long term,” US treasury secretary Scott Bessent said in announcing it.
“To be clear, no state or person who financed or supplied the Russian war machine will be allowed to benefit from the reconstruction of Ukraine,” he added.
Ukraine’s prime minister, Denys Shmyhal, said on national television that the agreement, which must be ratified by Ukraine’s parliament, was “good, equal and beneficial”.
In a post on social media he said the two countries would establish a reconstruction investment fund with each side having 50% voting rights and made clear that Kyiv would not be asked to pay back any “debt” for US aid during the war.
The deal had been a source of great friction between the US and Ukraine, including a disastrous February meeting between Donald Trump and Volodymyr Zelenskyy in which Trump and his vice-president, JD Vance, shouted at the Ukrainian leader in front of live TV cameras.
Ahead of the meeting Zelenskyy had alleged the US was pressuring him to sign over more than $500bn (£395bn) in mineral wealth – about four times what the US has contributed to Kyiv since the start of the war and which Zelenskyy had said would take 10 generations of Ukrainians to pay back.
Here’s a roundup of key developments:
Ukraine’s first deputy prime minister Yulia Svyrydenko, who was in Washington to sign the fund, said that Ukraine would retain full ownership of resources “on our territory and in territorial waters belong to Ukraine.” There would be no changes to ownership of state-owned companies, she said and income would come from new licences for critical materials and oil and gas projects, not from projects which had already begun.
There would be no changes to ownership of state-owned companies, she said, “they will continue to belong to Ukraine”. That included companies like Ukrnafta, Ukraine’s largest oil producer, and nuclear energy producer Energoatom.
Income would come from new licences for critical materials and oil and gas projects, not from projects which had already begun, Svyrydenko said. Income and contributions to the fund would not be taxed in the US or Ukraine, she said, “to make investments yield the greatest results”.
Ukraine’s prime minister, Denys Shmyhal, said in a post on social media tht the agreement was based on five key principles, including equal voting rights between the parties and no debt obligations for Ukraine. He also said the fund would not be an obstacle to Ukraine’s EU accession talks.
It was unclear up until the last moment whether the US and Ukraine would manage to sign the deal. Washington reportedly pressured Ukraine to sign additional agreements, including on the structure of the investment fund, or to “go back home”. Bessent later said the US was ready to sign though Ukraine had made some last-minute changes.
Updated
