Washington DC: The US has signed a deal with Ukraine on the joint exploitation of its energy and mineral resources, including the creation of a reconstruction investment fund to drive Ukraine’s economic recovery from the ongoing war with Russia.
US Treasury Secretary Scott Bessent announced the agreement, emphasizing that it reflects a shared commitment to peace, prosperity, and long-term growth in Ukraine.
Bessent stated that the deal would help ‘unlock Ukraine’s growth assets.’ The fund also acknowledges the significant financial and material support provided by the US since the Russian invasion began in February 2022.
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
What does agreement say?
Ukraine is known to hold vast deposits of strategic minerals such as graphite, titanium, and lithium, which are critical for renewable energy technologies, military systems, and industrial infrastructure.
These resources have grown in geopolitical importance, particularly amid the ongoing US-China trade war, as China currently supplies around 90 percent of the world’s rare-earth elements.
Ukraine’s Deputy Prime Minister Yulia Svyrydenko, who traveled to Washington to sign the agreement, said that the newly established reconstruction investment fund will attract global investment and cover projects in minerals, oil, and gas.
Svyrydenko clarified that the resources will remain the property of Ukraine, with the partnership structured on an equal 50:50 basis. However, the deal still requires ratification by Ukrainian lawmakers.
As part of the agreement, new US assistance to Ukraine is also expected, including the potential provision of air defence systems.
The language of the US Treasury’s announcement represents a notable shift from previous US positions under the Trump administration, as it explicitly refers to ‘Russia’s full-scale invasion’ and asserts that no individuals or states who financed or supplied Russia’s war machine will benefit from Ukraine’s reconstruction.
Sources familiar with the negotiation process revealed that Ukraine faced criticism from US officials for attempting to revise some terms at the last minute. Key sticking points involved governance of the investment fund, financial transparency, and ensuring all transactions are fully traceable.
Technical documents for the agreement were signed last week by officials from both nations, setting the stage for this diplomatic and economic milestone.
While the initial signing was scheduled for February, it was postponed due to disagreements, including a confrontation at the White House in which Trump accused President Volodymyr Zelensky of ‘gambling with World War Three.’
The breakthrough follows a face-to-face meeting between Trump and Zelensky held on the sidelines of Pope Francis.’ That interaction is believed to have paved the way for the finalization of the agreement.
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