ISTANBUL

Ukrainian Prime Minister Denys Shmyhal said on Wednesday that the long-awaited critical minerals deal with the US will be signed “hopefully within the next 24 hours.”

“As soon as all the final details are finalized, in the near future — hopefully within the next 24 hours — the agreement will be signed and we will receive the first step,” Shmyhal said on Ukraine's national telethon, United News.

Once the minerals deal is signed, Shmyhal added, Ukraine and the US will also sign two technical agreements for the establishment of an investment fund “and its financing and replenishment.”

He said Kyiv is "already" finalizing the final details with Washington. "Indeed, this is a strategic agreement on the creation of an investment fund, a partnership fund," Shmyal said.

On the details of the agreement, Shmyhal stressed grants and assistance provided to Ukraine earlier are not subject to this agreement and the new deal includes only new assistance and monetary contributions.

Shmyhal said the joint investment fund will contribute in the development and restoration of Ukraine and the Ukrainian economy for 10 years.

"This can be both capital investments in the creation of enterprises, in the development of mineral extraction, and agreements on the purchase of one or another product of Ukrainian production according to the "take-or-pay" rules," he said.

The agreement will also not conflict with the country’s EU accession process, Shmyhal said.