The deal will give the US access to Ukraine’s rare minerals in exchange for continued support in its war with Russia
Ukraine has signed a deal with the United States, giving the U.S. access to Ukraine’s rare minerals as it continues to work with the Trump administration in an effort to end its three-year war with Russia.
Ukrainian Economy Minister and Deputy Prime Minister Yulia Svyrydenko flew to Washington, D.C., Wednesday to help finalize the deal.
“On behalf of the Government of Ukraine, I signed the Agreement on the Establishment of a United States–Ukraine Reconstruction Investment Fund. Together with the United States, we are creating the Fund that will attract global investment into our country,” she wrote on X.
Upon taking office, President Donald Trump said he wanted Ukraine’s rare earth materials as a condition for continued U.S. support in the war. He described it as reimbursement for the billions of dollars of U.S. military assistance given to Ukraine.
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“This agreement signals clearly to Russia that the Trump Administration is committed to a peace process centered on a free, sovereign, and prosperous Ukraine over the long term,” Bessent said in a statement. “President Trump envisioned this partnership between the American people and the Ukrainian people to show both sides’ commitment to lasting peace and prosperity in Ukraine. And, to be clear, no state or person who financed or supplied the Russian war machine will be allowed to benefit from the reconstruction of Ukraine.”