After Lengthy Negotiations, Mineral Resource Agreement Signed Between the United States and Ukraine – Treasury Secretary Scott Bessent

After Lengthy Negotiations, Mineral Resource Agreement Signed Between the United States and Ukraine – Treasury Secretary Scott Bessent

U.S. Treasury Secretary Scott Bessent stated that the agreement sends a message to Russia that the United States supports a “free, sovereign, and prosperous Ukraine.” The United States and Ukraine have signed an agreement to assist in the reconstruction of war-torn Ukraine and to secure access to its valuable mineral resources.

The agreement was signed in Washington, D.C., on Wednesday after months of intense negotiations. The deal remained uncertain until the last moment due to last-minute proposals for changes. After a contentious meeting between U.S. President Donald Trump and Ukrainian President Volodymyr Zelenskyy at the White House in February, tensions arose between the two countries. This agreement marks a significant improvement in bilateral relations following that tension.

Announcing the agreement, U.S. Treasury Secretary Scott Bessent said, “Through the establishment of the U.S.-Ukraine Reconstruction Investment Fund, we are sending a message to Russia that the Trump administration is committed to a peaceful, independent, and prosperous future for Ukraine.”

He further stated, “President Trump envisioned this partnership between the American and Ukrainian people as a long-term commitment to peace and prosperity. And to be clear, anyone who financed or supplied the Russian war machine will not be allowed to benefit from Ukraine’s reconstruction.”

The Trump administration has not disclosed further details of the agreement.

Ukraine’s Ministry of Economy stated that the U.S. would contribute funds to the investment fund either directly or through military assistance, while Ukraine would contribute 50 percent of the revenue from its natural resources to the fund.

They also stated that for the first ten years, all of the fund’s resources would be invested exclusively in Ukraine. After that period, “profits may be shared between the two partners.”

The fund will be managed with equal decision-making power from both the United States and Ukraine. The agreement applies only to future U.S. military assistance, not past aid. Ukrainian Minister of Economy Yuliia Svyrydenko said, “We have gained not only investment but also a strategic partner committed to supporting our economic growth and innovation.”

She added, “This agreement is the result of extensive negotiations, and I am grateful to both negotiating teams for their professionalism and dedication. We have built a mutually beneficial framework. It reflects the U.S. commitment to sustainable peace in Ukraine and acknowledges Ukraine’s role in global security.”

Just before the agreement was signed, Ukrainian Prime Minister Denys Shmyhal wrote on Telegram that the deal would give Kyiv “full control over subsoil, infrastructure, and natural resources” and would not interfere with its efforts to join the European Union.

The agreement was originally planned to be signed weeks earlier, but discussions were delayed following a public clash between President Trump and President Zelenskyy on February 28.

Former Ukrainian Minister of Economy and head of the Kyiv School of Economics, Tymofiy Mylovanov, described the agreement as a major political and diplomatic achievement for both countries.

He wrote on X (formerly Twitter), “This gives Trump a domestic political boost — which will likely lead to a more positive stance towards Ukraine. Ukraine held firm. Despite immense pressure, every excessive demand from the other side was rejected. The final deal appears fair.”

Joint Fund

Ukraine had been pushing for security guarantees as part of the deal to stop Russia’s three-year-long invasion.

The Trump administration argued that increasing U.S. business interests in Ukraine would help deter future Russian aggression, should a ceasefire occur.

However, it remains unclear whether Wednesday’s agreement includes any security guarantees for Ukraine. The agreement must be ratified by the Ukrainian parliament to take effect.

Ukraine estimates that it holds about 5 percent of the world’s reserves of critical minerals — which are essential in the manufacturing of consumer electronics, electric vehicles, and military hardware.

Ukraine’s mining reserves include 22 out of the 34 critical minerals classified by the European Union.