The United States and Ukraine finalized a landmark minerals agreement on Wednesday, marking a pivotal shift from February's diplomatic tensions to a joint commitment to economic cooperation. The deal grants Washington preferential access to new Ukrainian mineral projects while establishing a reconstruction-focused investment fund, signaling a strategic alignment amid ongoing efforts to resolve the Russia-Ukraine conflict.
Key Elements of the Agreement
U.S. Treasury Secretary Scott Bessent and Ukraine's First Deputy Prime Minister Yulia Svyrydenko signed the agreement, which features a 50-50 voting structure for the joint fund. Kyiv retains full control over its natural resources, with fund profits reinvested exclusively in Ukraine's recovery. Svyrydenko emphasized the inclusion of potential “new assistance,” such as air defense systems, beyond direct financial contributions.
Negotiations: A Rocky Road to Consensus
Initial plans to sign the deal in February collapsed after a heated exchange between U.S. President Donald Trump and Ukrainian leader Volodymyr Zelenskyy. Multiple rounds of negotiations in Saudi Arabia and Washington followed, leading to a revised draft in March and final “technical” talks in April. Prime Minister Denys Shmygal praised the outcome as “good, equal, and beneficial” for Ukraine's sovereignty.
Implications for Peace and Prosperity
The pact aligns with Trump's pursuit of a peace settlement while addressing Ukraine's urgent need for reconstruction funding. Analysts suggest the deal could reshape global mineral supply chains and bolster investor confidence in Ukraine's post-conflict economy.
