The announcement comes at a critical moment in the war as Trump has grown increasingly frustrated with leaders of Russia and Ukraine.

The agreement is intended to give the U.S. access to proceeds from Ukraine’s reserves of minerals and to help fund the rebuilding of Ukraine when the fighting stops.

A source told Reuters the U.S. was pushing Ukraine to sign two additional documents as well as the main minerals deal and that Kyiv felt they were not ready yet.

Vice President JD Vance said Russia and Ukraine both face a “very big gulf” as the two countries make demands to negotiate to end the war. Vance sat for an interview with Fox News Digital,

U.S. and Russian officials continued Ukraine peace discussions Monday as the Kremlin announced a three-day ceasefire during May's Victory Day celebrations.

Ukraine says Russia launched more than 100 drones into Ukraine as pressure remains for a ceasefire deal. This comes as reports emerge of an imminent mineral deal between Ukraine and the U.S. CBS News' Ramy Inocencio reports.