After months of tough negotiations, the United States and Ukraine have agreed to share future profits from the sale of Ukraine’s energy and mineral resources. The deal is intended to encourage continued American investment in Ukraine’s defence and reconstruction efforts, while addressing concerns in Washington over the vast sums of aid already provided.
Ukraine possesses significant deposits of critical minerals such as lithium, titanium, and graphite, materials essential for green energy, military equipment, and infrastructure. US Treasury Secretary Scott Bessent described the agreement as a step towards long-term stability and economic growth for Ukraine.
A new investment fund will also be established to support Ukraine’s recovery from the war. In a statement, the US Treasury acknowledged the “significant financial and material support” provided by America since Russia’s 2022 invasion. Bessent said the deal would help “unlock Ukraine’s growth assets”.
The language of the announcement signals stronger support for Ukraine than usual from the Trump administration. It explicitly refers to “Russia’s full-scale invasion” and prohibits any individuals supporting Russia’s war effort from benefiting from Ukraine’s reconstruction. The Kremlin has not yet commented.
For Ukraine, the deal is vital for securing ongoing US military assistance. Deputy Prime Minister Yulia Svyrydenko, who signed the agreement in Washington, said the fund would attract global investors. She noted that the deal includes minerals, oil, and gas projects, while emphasising that Ukraine retains ownership of its resources.
The partnership will be equally shared, Svyrydenko added, though it still requires approval from Ukraine’s parliament. The US is also expected to provide new aid, including air defence systems.
President Donald Trump has long advocated for such a deal, considering it a prerequisite for offering Ukraine future security guarantees. While the agreement gives the US access to some Ukrainian resources, it falls short of Trump’s earlier demand for full repayment of wartime aid.
Ukrainian President Volodymyr Zelensky secured several concessions, but last-minute disputes delayed the signing. A US source familiar with the talks said Ukraine attempted to revisit previously agreed terms, with disagreements arising over fund management, transparency, and financial tracking.
The final documents were signed last week after months of delays. A previous attempt collapsed in February after Trump accused Zelensky of “gambling with World War Three” during a tense White House meeting.
The agreement follows a recent meeting between Trump and Zelensky at Pope Francis’ funeral, amid ongoing US-Russia ceasefire talks. Trump later told NewsNation that he had urged Zelensky to finalise the deal, warning that “Russia is much bigger and much stronger.”
The US president argued the agreement would help recoup billions in aid and more. “They have great rare earth… materials other places don’t,” Trump said, highlighting Ukraine’s untapped wealth.
The pact comes as the US competes with China, which currently supplies 90% of the world’s rare-earth minerals.
