The United States and Ukraine on Wednesday signed a long-awaited agreement granting the U.S. preferential access to Ukraine’s vast mineral reserves, while establishing a joint investment fund to support Ukraine’s war-torn reconstruction. The accord, heavily promoted by U.S. President Donald Trump, was finalized in Washington after months of complex and occasionally tense negotiations.

The agreement signals a major geopolitical and economic development, intertwining Washington’s reconstruction efforts in Ukraine with a strategic push to secure critical minerals, including rare earth metals essential for technology, defense, and energy sectors.

“This agreement clearly signals the Trump Administration’s commitment to a free, sovereign, prosperous Ukraine,” the U.S. Treasury said in a statement, highlighting America’s continued involvement in the region more than three years into Russia’s full-scale war.

U.S. Treasury Secretary Scott Bessent and Ukraine’s First Deputy Prime Minister Yulia Svyrydenko formally signed the deal, with both sides hailing the accord as a cornerstone for long-term cooperation. Svyrydenko emphasized that Ukraine retains ownership of its subsoil resources and maintains full control over where and how extraction occurs. She also noted that Ukraine has no debt obligations under the agreement — a key negotiating win for Kyiv.


“In addition to direct financial contributions, [the agreement] may also provide new assistance — for example, air defense systems for Ukraine,” Svyrydenko wrote on X, though U.S. officials did not directly confirm this.

A Strategic Pivot Toward Ukraine’s Resources

According to Reuters, Ukraine possesses significant reserves of rare earth elements, iron, uranium, and natural gas — resources that have drawn increasing global interest, particularly as the U.S. attempts to reduce reliance on Chinese supply chains. Rare earths are vital for electronics, electric vehicles, and advanced military systems, and are currently dominated by Chinese production.

President Trump has repeatedly stated that the United States should receive “something in return” for its extensive support to Kyiv, which has totaled more than $72 billion in military aid since 2022, according to Germany’s Kiel Institute. This deal appears to answer that call, allowing U.S. investors privileged access to Ukraine’s mineral sector — a move that may reshape global energy and defense supply chains in the years ahead.

Diplomacy and Controversy

While the minerals agreement and U.S.-led peace proposals are being negotiated separately, both are key parts of Washington’s broader approach to the conflict. Trump’s peace efforts — including proposals to recognize Russia’s claims to Crimea and potentially four other occupied regions — have sparked controversy and drawn sharp criticism from Ukrainian President Volodymyr Zelenskiy, who has vowed never to cede sovereign territory.

Still, Ukrainian officials view the minerals deal as a step toward repairing strained relations with Washington since Trump’s return to office in January. The deal also aligns with Ukraine’s EU accession goals, with Svyrydenko asserting that the agreement complies with both Ukrainian law and European integration standards.

A draft of the agreement obtained by Reuters earlier Wednesday confirmed Ukraine succeeded in removing any requirement to repay past U.S. military assistance — a major point of contention during the negotiations. However, the agreement reportedly does not include concrete security guarantees, another of Kyiv’s original demands.

Looking Ahead

With the minerals accord now signed, both governments are expected to begin implementation work on the joint investment fund. Svyrydenko called the deal a signal to global partners that long-term cooperation with Ukraine “over decades — is not only possible but reliable.”

Meanwhile, Ukraine continues separate discussions with European allies over forming an international security force to protect the country in the event of a peace settlement with Russia.