The United States and Ukraine on Wednesday signed a landmark minerals agreement that grants American firms preferential access to Ukraine’s rich natural resource deposits, while also establishing a joint investment fund aimed at supporting Ukraine’s post-war reconstruction.

The agreement, which was signed in Washington by U.S. Treasury Secretary Scott Bessent and Ukrainian First Deputy Prime Minister Yulia Svyrydenko, is being hailed by both sides as a milestone in strategic economic cooperation. Prominently backed by U.S. President Donald Trump, the deal reflects Washington’s broader efforts to reshape its engagement with Eastern Europe amid the ongoing conflict in Ukraine.

The U.S. Treasury said the agreement recognizes "the significant financial and material support that the people of the United States have provided to the defense of Ukraine since Russia's full-scale invasion." Since 2022, the U.S. has delivered more than $72 billion in military aid to Ukraine.

Speaking at the signing ceremony, Trump reiterated his stance that American aid must yield tangible returns. “We’ve invested heavily in Ukraine’s defense and freedom,” he said. “This agreement ensures our efforts also secure strategic benefits for the American people.”

The deal establishes U.S. participation in Ukraine’s vast and largely untapped rare earth minerals sector, which includes reserves of iron ore, uranium, natural gas, and critical metals essential for clean energy and advanced technology industries. It is also seen as a major step in countering Chinese dominance in global rare earth supply chains.

While the minerals agreement is separate from ongoing peace negotiations reportedly spearheaded by Trump, the two efforts are widely seen as part of a unified American strategy to stabilize and reshape the region following years of war.

Ukraine’s Svyrydenko emphasized that the agreement upholds national sovereignty over the country’s subsoil resources. “Ukraine will determine what and where to extract,” she said, asserting that the resources remain under full Ukrainian ownership. She also highlighted the agreement’s potential to bring in U.S. financing for infrastructure and defense, possibly including new air defense systems—though no formal confirmation has come from Washington on that point.

The deal comes at a critical juncture for Ukraine as it battles economic strain, ongoing Russian military pressure, and the immense challenge of post-war reconstruction. Ukrainian officials have long argued that attracting Western investment and securing reliable reconstruction funding are vital for the country’s long-term stability and sovereignty.

Analysts say the agreement could significantly deepen U.S.-Ukrainian economic ties, turning the partnership from one focused solely on defense to one grounded in long-term commercial cooperation. (ILKHA)