The United States and Ukraine signed a minerals agreement on Wednesday, introducing a new form of U.S. support for Ukraine after the end of military aid. The deal will allow the U.S. access to Ukraine's rare earth minerals in exchange for establishing an investment fund in Ukraine.
Ukraine Secures Control Over Rare Earth Minerals
After lengthy negotiations, Ukraine managed to secure full control over its untapped rare earth minerals, which are crucial for modern technologies. These resources have largely remained unused, making this agreement a significant win for Ukraine.
Trump’s Demands for Mineral Access
U.S. President Trump had earlier demanded access to Ukraine’s mineral resources in exchange for U.S. weapons. Though Ukraine was initially hesitant, it eventually agreed to the deal in hopes of attracting long-term U.S. investment.
U.S. Commitment to Peace and Prosperity
In a statement, U.S. Treasury Secretary Scott Bessent emphasized that the agreement demonstrates both countries’ commitment to lasting peace and prosperity. He also clarified that no one who financed Russia's war would benefit from Ukraine's reconstruction.
Ukraine Retains Full Control Over Resources
In Kyiv, Prime Minister Denys Shmygal praised the deal as "good, equal, and beneficial." He confirmed that both countries would share a Reconstruction Investment Fund, with equal voting rights. He also stated that Ukraine would retain full control over its infrastructure and natural resources.
No Repayment for U.S. Support
Ukraine will not be required to repay any debts for U.S. weapons and other support provided since Russia’s invasion. The profits from the Reconstruction Investment Fund will be reinvested solely in Ukraine.
Deal to Finance Key Infrastructure Projects
Ukrainian Economy Minister Yulia Svyrydenko noted that the deal would fund projects related to minerals, oil, gas, and their associated infrastructure. Initially, Trump had sought $500 billion in mineral wealth, which is four times the amount the U.S. has provided to Ukraine in aid.