After months of negotiations, the U.S. and Ukraine have signed a deal that gives America preferential access to Kyiv’s %CriticalMinerals in exchange for ongoing military aid and the creation of reconstruction investment fund.
The agreement, long coveted by U.S. President Donald Trump, comes after months of negotiations and more than three years since Russia invaded Ukraine.
U.S. Treasury Secretary Scott Bessent said that the economic partnership would allow the two countries to accelerate Ukraine’s economic recovery and “end this cruel and senseless war.”
Since his inauguration in January, Trump has pushed for a mineral deal with Ukraine that will see the two countries jointly develop and monetize Kyiv’s deposits of rare earths, critical minerals, oil, and other natural resources.
Trump has said such a deal would compensate the U.S. for the billions of dollars in military aid it has provided to Ukraine throughout its war with Russia.
Ukraine’s government said that the economic deal should deliver benefits for both countries.
As part of the agreement, Ukraine will determine where and what items to extract and provide to the United States.
The reconstruction fund to help rebuild Ukraine after the war will be funded on a joint 50-50 basis between Ukraine and the U.S.
The critical minerals deal still must be ratified by Ukraine’s legislature.
Critical minerals and rare earth elements are largely used in technology, from microchips and electric vehicle batteries to laptop computers and solar panels.
Ukraine is one of the world’s largest producers of critical elements and rare earth elements, as well as a major oil and natural gas producer.
