On Wednesday, the United States and Ukraine finalized a long-awaited minerals agreement, seen as a new form of support for Kyiv after the cessation of US military aid. This accord allows the US to access Ukraine’s rare earth minerals—vital for modern technology—while establishing an investment fund in Ukraine. Following intense negotiations, Ukraine secured critical terms, including maintaining full control over its mineral resources, which are largely untapped.
Initially, former President Trump had sought access to these minerals as part of the multibillion-dollar military assistance provided to Ukraine during President Biden’s administration amid Russia’s invasion over three years ago. To attract long-term US investment, Ukraine ultimately agreed to the deal, especially as Trump aims to reduce America’s global security commitments. Treasury Secretary Scott Bessent emphasized that the agreement reflects a commitment to lasting peace and prosperity in Ukraine and signals to Russia that the Trump administration supports a free and sovereign Ukraine.
Prime Minister Denys Shmygal affirmed the deal as “good, equal, and beneficial,” noting the establishment of a Reconstruction Investment Fund with equal voting rights for both countries. He assured that Ukraine retains control over its resources and will incur no debt for US aid since the war began. Additionally, Economy Minister Yulia Svyrydenko highlighted that the deal would finance mineral, oil, and gas projects along with associated infrastructure. Trump’s original demand was for $500 billion in mineral wealth, a sum significantly larger than US contributions to Ukraine thus far.
