Ukraine and the United States on Wednesday signed a deal heavily promoted by United States President Donald Trump that will give the United States preferential access to new Ukrainian minerals deals and fund investment in Ukraines reconstruction.The two countries signed the accord in Washington after months of sometimes fraught negotiations, with uncertainty persisting until the last moment with word of an eleventh-hour snag.The accord establishes a joint investment fund for Ukraines reconstruction as Trump tries to secure a peace settlement in Russias three-year-old war in Ukraine.The agreement is central to Kyivs efforts to mend ties with Trump and the White House, which frayed after he took office in January.
Ukrainian officials have hoped that the deal would ensure continued United States support for Ukraines defence against Russia.United States Treasury Secretary Scott Bessent and Ukrainian First Deputy Prime Minister Yulia Svyrydenko were shown signing the agreement in a photo posted on X by the Treasury, which said the deal clearly signals the Trump Administrations commitment to a free, sovereign, prosperous Ukraine.Svyrydenko wrote on X that the accord provides for Washington to contribute to the fund.In addition to direct financial contributions, it may also provide NEW assistance - for example air defense systems for Ukraine, she said.
Washington did not directly address that suggestion.The United States has been Ukraines single largest military donor since Russias 2022 invasion with aid of more than 64 billion euros ($72 billion), according to the Kiel Institute in Germany.Before the signing, Trump repeated on Wednesday that the United States should get something for its aid to Kyiv, thus the effort to secure a deal for Ukraines plentiful deposits of rare earth minerals.In announcing the deal, the United States Treasury said the partnership recognized the significant financial and material support that the people of the United States have provided to the defense of Ukraine since Russias full-scale invasion.Svyrydenko said the accord allowed Ukraine to determine what and where to extract and that its subsoil remains owned by Ukraine.Ukraine is rich in natural resources including rare earth metals which are used in consumer electronics, electric vehicles and military applications, among others.
Global rare-earth mining is currently dominated by China, which is locked in a trade war with the United States after Trumps sharp tariff increases.Ukraine also has large reserves of iron, uranium and natural gas.Svyrydenko said Ukraine has no debt obligations to the United States under the agreement, a key point in the lengthy negotiations between the two countries.The deal also, she said, complied with Ukraines constitution and Ukraines campaign to join the European Union, key elements in Ukraines negotiating position.The minerals deal and United States peace efforts have been negotiated separately but reflect Washingtons approach to Ukraine and Russia.
Trump has upended United States policy by softening the United States stance toward Russia and sometimes falsely blaming Ukrainian President Volodymyr Zelenskiy for the war.United States peace proposals have called for recognition of Russias claim to Crimea, which it seized from Ukraine in 2014, and potentially four other Ukrainian regions.
Zelenskiy has said Kyiv would never do so because it would contravene Ukraines constitution.Importantly, the Agreement sends a signal to global partners that long-term cooperation with Ukraine - over decades - is not only possible but reliable, Svyrydenko said on X.A draft of the United States -Ukraine agreement seen by Reuters earlier on Wednesday showed Ukraine secured the removal of any requirement for it to pay back the United States for past military assistance, something Kyiv had staunchly opposed.The draft did not provide any concrete United States security guarantees for Ukraine, one of its initial goals.Separately, Ukraine has discussed with European allies the forming of an international force to help ensure Ukraines security if a peace agreement is reached with Russia.Source: Reuters--Agencies