The United States and Ukraine have signed a key minerals and reconstruction investment deal—strongly backed by U.S. President Donald Trump—that grants Washington preferential access to Ukrainian mineral ventures while funding post-war recovery efforts.
Signed in Washington on Wednesday, the agreement follows months of complex negotiations and is seen as a step toward strengthening strained U.S.-Ukraine relations since Trump’s return to office. U.S. Treasury Secretary Scott Bessent and Ukrainian First Deputy Prime Minister Yulia Svyrydenko signed the accord.
The deal creates a joint fund to support Ukraine’s rebuilding efforts and opens doors for U.S. participation in extracting Ukraine’s vast reserves of rare earth elements, iron, uranium, and gas. These resources are strategically critical, especially as the U.S. looks to counter China’s dominance in rare earth mining.
Svyrydenko assured that Ukraine retains full control over its resources and extraction decisions, and emphasized that Kyiv has no repayment obligations under the deal—something Ukraine had firmly insisted on during talks.
Although the pact provides economic benefits, it offers no new U.S. security guarantees. Trump has continued to advocate for a transactional approach to foreign aid, reiterating that the U.S. should benefit from its multi-billion-dollar support to Ukraine since Russia’s 2022 invasion.
The deal also signals long-term cooperation, according to Ukrainian officials, and is part of broader efforts by Trump to broker a peace deal, including controversial proposals that involve recognizing Russian control over Crimea and parts of eastern Ukraine—a stance rejected by President Volodymyr Zelenskiy.