Ukraine and the United States signed on Wednesday a long-contested economic agreement promoted by U.S. President Donald Trump that will give Washington preferential access to new Ukrainian minerals deals and fund investment in Ukraine’s reconstruction. U.S. Treasury Secretary Scott Bessent and Ukrainian First Deputy Prime Minister Yulia Svyrydenko formally signed the accord in Washington after months of negotiations that nearly unraveled at the last moment.
Central to the agreement is the creation of a joint Reconstruction Investment Fund, equally governed by both countries, to channel U.S. investment into Ukraine’s rebuilding efforts once military aid ends. The fund’s profits will be reinvested solely in Ukraine, and Kyiv retains full ownership and decision-making authority over its subsoil and extraction projects. The accord explicitly removes any obligation for Ukraine to repay past U.S. military assistance, a key Ukrainian demand.
Trump had initially demanded rights to Ukraine’s vast mineral reserves estimated at 5 percent of the world’s total, including 20 percent of global graphite for U.S. compensation. After initial Ukrainian resistance, Kyiv agreed to the minerals accord as a means to secure long-term U.S. investment while preserving sovereignty over resource development. The deal also signals continued U.S. backing for Ukraine in the face of Russia’s three-year-old full-scale invasion, marking “a new form of U.S. commitment,” according to Treasury officials.
The draft agreement, seen earlier by Reuters, carries no new security guarantees. Instead, it underscores economic cooperation as a pillar of Ukraine’s resilience. Kyiv leaders view the pact as vital for cementing ties with the Trump administration and ensuring steady funding beyond defense aid. Ukraine plans to deploy the fund’s resources into mineral, oil and gas projects, along with related infrastructure and processing facilities.
First Deputy Prime Minister Svyrydenko noted the accord could also unlock “new assistance – for example, air defence systems,” hinting at possible non-mineral security support. Prime Minister Denys Shmyhal praised the agreement as “good, equal and beneficial,” emphasizing that the profits would fuel Ukraine’s recovery without compromising its resource sovereignty.
The signing ceremony diverged from typical Trump administration language by referring to Russia’s “full-scale invasion,” and Bessent stressed the pact as a message to Russia that the U.S. remains committed to a “free, sovereign and prosperous Ukraine.” As Kyiv contends with occupied territories and an ongoing conflict, the minerals deal aims to anchor U.S. economic partnership in Ukraine’s long-term future.
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