The US and Ukraine sign a historic agreement to unlock economic growth through investment in Ukraine’s mineral resources, signalling a commitment to peace and prosperity
In a significant step towards strengthening US-Ukrainian relations, the United States and Ukraine have officially signed a comprehensive mineral resources agreement aimed at creating the United States-Ukraine Reconstruction Investment Fund. This deal, which was announced on Wednesday, grants the US rights to access critical Ukrainian rare earth minerals, marking a strategic partnership between the two nations in the context of Ukraine’s post-war recovery.
Treasury Secretary Scott Bessent, in a press release, underscored the importance of this agreement, stating, “This agreement signals clearly to Russia that the Trump administration is committed to a peace process centred on a free, sovereign, and prosperous Ukraine.” Bessent emphasised that the US would ensure that no individual or state that has supported Russia’s war efforts would benefit from Ukraine’s reconstruction. This message directly challenges Russia’s ongoing military aggression in Ukraine and signals the US’s firm stance on supporting Ukraine’s sovereignty.
Ukrainian Minister of the Economy Yulia Svyrydenko echoed this sentiment on social media, stating, “Together with the United States, we are creating the Fund that will attract global investment into our country.” The deal also aims to establish an investment climate that will fuel Ukraine’s economic recovery, attract international capital, and mobilise US expertise in governance and business practices to accelerate growth.
The negotiations leading up to the deal were reportedly challenging. Although both sides were prepared to sign the critical minerals agreement earlier, the US insisted on a simultaneous signing of the investment fund document, which delayed the process. Ukrainian officials had hoped to finalise the fund agreement first, but ultimately agreed to sign both agreements together, despite some last-minute complications. A Ukrainian official explained that the US’s insistence on synchronising the agreements led to delays, but Treasury Secretary Bessent confirmed that the US had been ready to sign all along.
In a video addressing the deal, Bessent elaborated on the partnership, noting that it would unlock Ukraine’s economic potential by investing alongside the Ukrainian government. “This partnership allows the United States to invest alongside Ukraine to unlock Ukraine’s growth assets, mobilise American talent, capital, and governance standards that will improve Ukraine’s investment climate and accelerate Ukraine’s economic recovery,” Bessent explained.
The agreement also addresses Ukraine’s vital mineral resources, including rare earth minerals that are crucial for modern technologies and manufacturing. This deal marks a major milestone in securing Ukraine’s future economic stability, especially as the country navigates post-war reconstruction and recovery efforts.
President Donald Trump’s administration has consistently provided substantial support to Ukraine, especially in the face of Russia’s aggression. While the full economic impact of the agreement has yet to be realised, Trump has expressed optimism, stating, “We haven’t really seen the fruits of that deal yet. I suspect we will.” This statement reflects the administration’s confidence in the long-term benefits of the agreement for both the US and Ukraine.
Originally, the signing of the mineral resources agreement was scheduled for late February, but a tense meeting between Trump and Ukrainian President Volodymyr Zelenskyy in the Oval Office led to a delay. Despite these challenges, both nations have now formalised the deal, signalling a strong and growing partnership.
The creation of the United States-Ukraine Reconstruction Investment Fund is expected to attract significant global investment into Ukraine, providing much-needed financial resources to rebuild the war-torn country and establish a more resilient, independent, and prosperous future.
