The United States and Ukraine have signed the long-awaited minerals deal that will see Washington invest in the war-torn country’s reconstruction.
Donald Trump’s administration has hinted that Washington’s deeper financial involvement in Ukraine’s economy is the best security guarantee for Ukraine, as Trump himself continues to try and broker a ceasefire and a peace deal between Kyiv and Moscow.
According to the minerals agreement, signed by U.S. Treasury Secretary Scott Bessent and Ukrainian First Deputy Prime Minister Yulia Svyrydenko on Wednesday, April 30th, the United States will get preferential access to new Ukrainian minerals and will fund investment in Ukraine’s reconstruction.
Thanks to @POTUS @realDonaldTrump’s tireless efforts to secure a lasting peace, I am glad to announce the signing of today’s historic economic partnership agreement between the United States and Ukraine establishing the United States-Ukraine Reconstruction Investment Fund to help… pic.twitter.com/N1jPa35DYh
— Treasury Secretary Scott Bessent (@SecScottBessent) April 30, 2025
The deal will finance mineral, oil, and gas projects as well as infrastructure and processing in Ukraine for the first ten years, after which “profits may be distributed between the partners.”
The accord allows Ukraine to have full control over its natural resources, and will retain ownership of its subsoil. Ukraine is rich in natural resources and rare earth metals which are used in consumer electronics, electric vehicles, and military applications. It also has large reserves of iron, uranium, and natural gas.
However, work has not yet started on extracting some of these materials and a number of sites are in territory now controlled by Russian forces, such as 40% of Ukraine’s known metal resources and at least two lithium deposits.
In contrast to his predecessor, Joe Biden, current U.S. president, Donald Trump has been seeking to end the war between invading Russia and Ukraine, and has been trying to negotiate a ceasefire—with no results to date.
Trump backs economic investment rather than further supplies to Kyiv of U.S. military aid.
Treasury Secretary Scott Bessent said the deal showed “that the U.S. has an economic interest in Ukraine,” which is “a signal to the Russian leadership.” He also said it was a chance for Washington to be compensated for the more than €64 billion worth of weapons it has supplied to Ukraine.
While the minerals deal does indeed make no mention of any potential U.S. military assistance to Ukraine, media reports suggest that Washington is willing to export defence-related products to Kyiv through direct commercial sales of $50 million or more.
Furthermore, Ukraine will not be requested to pay back any of the billions of dollars in U.S. support since Russia’s invasion three years ago.
In Kyiv, Prime Minister Denys Shmygal said the agreement was “good, equal, and beneficial.”
In Moscow, deputy chairman of Russia’s Security Council Dmitry Medvedev said Ukrainians “will have to pay for military supplies with the national wealth of a disappearing country.”
