U.S. and Ukraine Sign Strategic Minerals and Reconstruction Deal
The United States and Ukraine have entered into a sweeping economic partnership that includes a long-awaited agreement on the joint ownership and extraction of Ukraine’s natural resources. Announced by the White House on Wednesday night, the agreement aims to support Ukraine’s recovery amid its ongoing war with Russia.
The deal, formalized through the newly established United States-Ukraine Reconstruction Investment Fund, allows both nations to co-invest in Ukraine’s natural resource sectors—including critical minerals, oil, and gas—while supporting broader economic rebuilding efforts. Treasury Secretary Scott Bessent said the initiative is designed to unlock Ukraine’s economic potential and promote long-term growth.
“This agreement sends a clear message to Russia that the Trump Administration stands firmly behind a free, sovereign, and prosperous Ukraine,” Bessent stated. “It represents the President’s vision of a lasting peace and a strong partnership between the American and Ukrainian people.” Bessent also emphasized that any entity involved in supporting Russia’s war effort will be barred from profiting from Ukraine’s reconstruction.
Joint Management of Critical Resources and Revenue
Ukraine’s Economy Minister Yulia Svyrydenko shared key details of the minerals portion of the agreement. In a statement on X, she confirmed that Ukraine retains full sovereignty over its subsoil resources and will determine the location and scope of extractions.
The fund will be co-owned and jointly managed by both nations, with equal decision-making power and no dominant stakeholder. It will be financed through new licenses for oil, gas, and critical minerals, with half of the revenue from those licenses directed into the fund. These resources will be reinvested into extraction, infrastructure, and processing projects—all to be located in Ukraine.
Svyrydenko noted that the United States is also expected to contribute financially, though exact figures remain undisclosed. To enhance the effectiveness of the investment process, contributions to the fund will not be taxed in either country. Importantly, she clarified that the agreement does not include any terms regarding Ukraine’s repayment of its financial obligations to the U.S.
Trump Sees Economic Returns, Calls for Ceasefire Talks
At a Cabinet meeting Wednesday, former President Donald Trump described the deal as a practical solution to secure U.S. financial interests while accessing rare and valuable resources. “Rare earth is rare for a reason—and Ukraine has plenty,” he said. “We made a deal where our money is safe, and we can begin extraction and development.” Trump also suggested the agreement provides a pathway for the U.S. to recover part of the $66.5 billion it has provided Ukraine in military aid.
The agreement follows Trump’s recent meeting with Ukrainian President Volodymyr Zelenskyy in Rome. Calling the encounter “beautiful,” Trump said their relationship has improved significantly and expressed optimism that Zelenskyy is ready to negotiate an end to the war.
Trump reserved his criticism for Russian President Vladimir Putin, condemning recent airstrikes on Kyiv and emphasizing the urgency of renewed ceasefire talks. While direct talks between Ukraine and Russia have stalled since the early days of the invasion, Trump indicated both sides are “very close to a deal” and urged for high-level negotiations to move forward.
