US, Ukraine ink minerals agreement

(MENAFN) The United States and Ukraine have officially signed a long-anticipated minerals agreement, granting Washington access to help develop Ukraine’s natural resources. The announcement came from US Treasury Secretary Scott Bessent and Ukrainian Economy Minister Yuliya Sviridenko on Wednesday.

This deal coincides with Ukraine’s broader efforts to secure long-term security commitments from the US, as part of a potential peace arrangement with Russia that President Donald Trump is actively negotiating.

The agreement establishes the United States-Ukraine Reconstruction Investment Fund. Bessent stated that the fund was part of President Trump’s vision to build a lasting partnership between Americans and Ukrainians, fostering peace and prosperity.

Although the full text hasn’t been made public, Sviridenko explained that the fund will be co-managed equally by both nations, ensuring neither side holds controlling power. Half of the revenue from new licenses in critical minerals, oil, and gas will be allocated to the fund.

Sviridenko stressed that Ukraine retains full ownership and control over its resources, with all extraction decisions remaining in the hands of the Ukrainian state. She clarified that state-run companies like Ukrnafta and nuclear operator Energoatom will stay publicly owned, and the deal will not influence privatization policies.

Under President Biden, the US had provided Ukraine with major aid packages, including advanced weaponry. However, Trump has since pivoted toward urging Europe to take on more of the support burden. In February 2025, US military assistance to Ukraine was suspended after a tense White House meeting between Trump, Vice President J.D. Vance, and Ukrainian President Vladimir Zelensky.

Trump has argued that the US should be reimbursed—at least in part—for its estimated $170 billion in aid to Kiev, primarily through access to Ukraine’s valuable minerals, including rare earths vital to high-tech industries.

Negotiations on the minerals agreement have been ongoing since Trump returned to office. Although a memorandum of intent was signed in April, Trump expressed frustration over delays. On April 25, he criticized Zelensky on social media for being “three weeks late” in finalizing the deal.

While the agreement does not provide formal security guarantees, it is viewed as part of a broader strategic alignment between Washington and Kiev, signaling strong US support for Ukraine’s reconstruction and integration into the global economy, according to the Financial Times.

Zelensky recently reiterated his hope for long-term US security assistance, similar to the US-Israel model. Trump, however, has avoided confirming whether military aid would continue if peace talks with Russia fail, telling ABC News that revealing his plans would harm negotiations.

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