In a major geopolitical and economic development, the United States and Ukraine have signed a long-awaited agreement to jointly develop Ukraine’s vast natural resources. The pact, sealed in Washington on Wednesday, marks a significant shift in US-Ukraine cooperation and aims to fuel Ukraine’s war-torn economy through a newly established US-Ukraine Reconstruction Investment Fund.
Announced by US Treasury Secretary Scott Bessent, the deal is designed to unlock Ukraine’s critical growth assets, including valuable reserves of graphite, titanium, and lithium—materials vital for clean energy, defense, and industrial sectors. With global demand surging and amid an ongoing US trade war with China—currently dominating 90% of rare earth supplies—the deal positions Ukraine as a key partner in diversifying America’s resource base.
Ukraine’s Deputy Prime Minister Yulia Svyrydenko, who flew to Washington to sign the deal, confirmed that investment projects would focus on minerals, oil, and gas. She clarified that the resources would remain Ukrainian-owned, with the US partnership structured on a 50:50 basis pending approval from Ukraine’s parliament.
The agreement also includes future US aid packages, such as advanced air defense systems, and is viewed as a cornerstone for securing additional American security guarantees. Former President Donald Trump, who has been vocal about tying future military assistance to economic cooperation, reportedly pushed for the deal as a precondition to continued US support.
Negotiations were tense and protracted. Talks nearly collapsed earlier this year after Trump accused Ukrainian President Volodymyr Zelensky of “gambling with World War Three.” The deadlock broke after a recent private meeting between Trump and Zelensky during Pope Francis’ funeral in Vatican City, where Trump reportedly urged him to close the deal.
While Ukraine resisted initial US demands for full repayment of past military aid via resource access, Zelensky managed to negotiate a more balanced agreement. US sources noted last-minute disputes over fund governance and transparency, though technical documents had been signed prior.
The agreement notably includes strong language condemning Russia’s invasion, asserting that no individual or entity involved in supporting Moscow’s war machine will benefit from Ukraine’s reconstruction.
The Kremlin has yet to respond to the signing of the pact.