Washington: The United States and Ukraine have finalized a significant economic partnership agreement that grants Washington access to Ukraine’s valuable rare earth minerals. In return, the U.S. will help establish a joint investment fund aimed at supporting Ukraine’s development and reconstruction.
The agreement, confirmed by the U.S. Treasury Department on Wednesday, follows weeks of tough negotiations that briefly interrupted U.S. aid to Ukraine. Treasury Secretary Scott Bessent emphasized that the deal underscores America’s long-term commitment to supporting a sovereign and prosperous Ukraine while sending a strong message to Russia.
Ukraine’s Economy Minister Yulia Svyrydenko signed the agreement in Washington, asserting that Ukraine will maintain full control over its natural resources. She made clear that any extraction of minerals remains under Ukrainian jurisdiction and ownership.
The deal had been in the works since President Donald Trump returned to office in January. A planned signing during Ukrainian President Volodymyr Zelensky’s visit in February was derailed due to disagreements, particularly over whether the U.S. would offer security guarantees as part of the arrangement. Trump insisted those discussions come only after the agreement was signed, prompting accusations from Kyiv that the draft initially felt like Ukraine was being forced to “sell” its sovereignty.
Following that visit, Trump briefly suspended U.S. aid to Ukraine, raising alarm among European allies who then vowed to increase their own support. The deal has since been revived, with Zelensky’s government now seeing American investment as a potential guarantee of U.S. commitment to Ukraine’s security and recovery.
Although the full text of the agreement remains confidential, Ukrainian Prime Minister Denys Shmyhal said it outlines equal financial contributions from both nations and shared management of the investment fund. He clarified that past U.S. aid will not count toward the fund, though future military assistance might.
Ukraine is home to extensive deposits of critical minerals vital for clean energy, electronics, and defense technologies. As the global supply chain remains heavily dependent on China, the West sees Ukraine as a key alternative source.
The agreement follows a similar deal Ukraine signed with the European Union in 2021 and builds on prior commitments made under the Biden administration to encourage U.S. investment in Ukraine’s mining sector.
