 "Ukraine, US finally sign mineral deal: Trump pact paves for $175 bn aid to Kyiv")
The United States and Ukraine signed a long-delayed minerals agreement on Wednesday, which the Trump administration described as a new kind of support for Kyiv following the end of US military aid.
This deal will enable Washington access to Kyiv’s rare earth minerals in exchange for establishing an investment fund in Ukraine.
After tough negotiations, Ukraine said it had secured key interests, including full control over its rare earth minerals—essential for modern technologies and mostly untapped.
Trump had earlier demanded access to Ukraine’s mineral resources in return for the billions in US weapons sent during President Biden’s time, after Russia’s invasion over three years ago.
Despite initial reluctance, Ukraine agreed to the deal to attract long-term US investment, as Trump moves to cut back America’s global security commitments.
Announcing the signing of the deal in Washington, Treasury Secretary Scott Bessent said it showed “both sides’ commitment to lasting peace and prosperity in Ukraine.”
“This agreement signals clearly to Russia that the Trump administration is committed to a peace process centered on a free, sovereign and prosperous Ukraine over the long term,” Bessent said.
“And to be clear, no state or person who financed or supplied the Russian war machine will be allowed to benefit from the reconstruction of Ukraine.”
Impact Shorts
More ShortsThe Treasury statement notably mentioned Russia’s “full-scale invasion” of Ukraine – diverging from the Trump administration’s usual formulation of a “conflict” for which Kyiv bears a large degree of responsibility.
In Kyiv, Prime Minister Denys Shmygal said on national television that the agreement was “good, equal and beneficial.”
In a post on Telegram, Shmygal said that the two countries would establish a Reconstruction Investment Fund with each side having 50 percent voting rights.
“Ukraine retains full control over its subsoil, infrastructure and natural resources,” he said.
Meeting a key concern for Kyiv, he said Ukraine would not be asked to pay back any “debt” for the billions of dollars in US weapons and other support since Russia invaded in February 2022.
“The fund’s profits will be reinvested exclusively in Ukraine,” he said.
Ukrainian Economy Minister Yulia Svyrydenko said on Facebook that the deal would finance mineral and oil and gas projects as well as “related infrastructure or processing.”
Trump had originally sought $500 billion in mineral wealth – around four times what the United States has contributed to Ukraine since the war.
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