US, Ukraine sign mineral deal once sought by Trump

WASHINGTON,— The U.S. and Ukraine on Wednesday signed an agreement granting American access to Ukraine’s vast mineral resources and establishing a new investment fund to support Ukraine’s reconstruction.

The deal, a key initiative promoted by President Donald Trump, was finalized in Washington following prolonged negotiations marked by last-minute uncertainty.

The agreement lays the foundation for expanded American involvement in Ukraine’s post-war recovery and mineral development.

U.S. Treasury Secretary Scott Bessent and Ukraine’s First Deputy Prime Minister Yulia Svyrydenko signed the deal, which both countries described as a major milestone in their cooperation.

The U.S. Treasury called the pact a clear indication of the Trump administration’s ongoing commitment to support Ukraine’s sovereignty and long-term stability.

“This partnership reflects the significant contributions the American people have made in Ukraine’s defense and reconstruction,” the department said in a public statement.

Svyrydenko, writing on X, the platform formerly known as Twitter, said the fund will receive financial support from Washington. She also suggested the deal could pave the way for new military assistance, such as air defense systems, though U.S. officials did not comment on that possibility.

Since Russia’s full-scale invasion of Ukraine in 2022, the United States has provided Kyiv with over $72 billion in aid, according to the Kiel Institute for the World Economy.

President Trump, who has been critical of what he called one-sided support for Kyiv, reiterated Wednesday that American assistance should come with benefits for the U.S. The agreement includes access to Ukraine’s significant deposits of rare earth elements, which are critical to sectors like electronics, electric vehicles, and defense technology.

While the United States gains priority in future mineral ventures, Ukraine retains full control over extraction rights. “Ukraine will decide what and where to mine. Ownership of resources remains with Ukraine,” Svyrydenko said.

She noted that Ukraine would not incur any debt to the U.S. under the deal. This provision had been a major sticking point in earlier talks, and its removal helped finalize the agreement.

Ukraine, rich in rare earths, uranium, iron ore, and natural gas, views this deal as aligned with its constitutional policies and its EU membership goals, officials said.

Although this mineral agreement is separate from broader peace negotiations, both efforts underscore the current U.S. approach to Ukraine and its conflict with Russia.

Trump’s administration has pursued diplomatic channels that include controversial proposals — such as recognizing Russian control of Crimea and other occupied regions — which Ukraine has firmly rejected.

President Volodymyr Zelensky has stated that no peace deal will involve ceding Ukrainian territory, citing constitutional protections.

Svyrydenko said the new agreement demonstrates Ukraine’s long-term viability as a partner for international investors. “This sends a strong message to the global community: Ukraine is ready for sustained cooperation across decades,” she said.

A draft version of the pact, reviewed before the signing, showed that Ukraine successfully pushed for the removal of clauses requiring repayment of past U.S. military support. However, the agreement does not include explicit security guarantees, one of Ukraine’s initial demands.

Ukrainian officials continue to engage with European allies on creating a potential international peacekeeping force in the event of a future peace agreement with Moscow.

The deal had previously stalled in March after a tense meeting between Zelensky and Trump ended in disagreement, following a heated exchange over Ukraine’s wartime efforts, the scope of American support, and differing diplomatic approaches.

(With files from Reuters)