The US and Ukraine have signed a historic deal to jointly exploit energy and mineral resources, aiming to rebuild Ukraine’s economy.
The United States and Ukraine have signed a long-anticipated agreement focused on the joint exploitation of Ukraine’s vast energy and mineral resources, marking a significant milestone in the two countries’ economic and strategic partnership.
The deal, announced Wednesday, also establishes a Reconstruction Investment Fund aimed at revitalizing Ukraine’s war-torn economy and unlocking private capital to support long-term growth.
“The newly signed agreement allows Ukraine and the US to jointly exploit critical energy and mineral reserves to spur economic recovery,”
said US Treasury Secretary Scott Bessent in a video message. He added that both countries remain committed to lasting peace and prosperity in Ukraine.
Ukraine is believed to hold major reserves of critical minerals like graphite, titanium, and lithium—key ingredients in renewable energy, weapons systems, and industrial manufacturing. These resources have gained heightened importance amid the ongoing US trade war with China, which currently controls over 90% of the world’s rare-earth supply.
President Donald Trump, who has backed the deal as a condition for future US military support to Kyiv, said on NewsNation: “They [Ukraine] have things that a lot of places don’t have. It’s a big asset that they have.” He framed the deal as a win for American taxpayers, claiming it would allow the US to recuperate “much more” than what had already been spent in military aid.
While the Biden administration was initially skeptical, the Trump-led White House has adopted more supportive rhetoric. The Treasury statement referred to “Russia’s full-scale invasion” and vowed that no entity backing the Kremlin’s war would benefit from Ukraine’s reconstruction.
Ukraine’s Deputy Prime Minister Yulia Svyrydenko, who signed the agreement in Washington, wrote on X that the partnership would be “equal” and involve projects in minerals, oil, and gas—though ownership of resources would remain with Ukraine. She confirmed that the arrangement must still be ratified by Ukrainian lawmakers.
The deal had faced delays over governance and transparency concerns, with both sides revisiting key terms days before signing. A US official familiar with the negotiations criticized Ukraine’s push for last-minute changes, while Ukrainian officials said they had secured vital concessions, including stronger oversight of the fund.
This agreement also comes just days after Trump and President Zelensky met on the sidelines of Pope Francis’ funeral in Rome—a moment sources say helped revive stalled negotiations.
Despite a temporary ceasefire announced by Russia to coincide with Victory Day commemorations from May 8 to 11, tensions remain high. Ukraine has called for a broader 30-day ceasefire as the war grinds on.
