The United States and Ukraine signed a major new agreement in Washington. The deal gives the US special access to Ukraine’s rare earth minerals and helps fund Ukraine’s rebuilding efforts. It was strongly supported by US President Donald Trump and came after months of difficult negotiations.

This agreement also sets up a joint fund for Ukraine's reconstruction. It is seen as an important step in improving ties between Ukraine and President Trump’s administration. The relationship between the two countries had been tense since Trump took office in January.

Ukrainian officials hope the deal will help ensure continued US support for Ukraine in its defence against Russia. Russia’s war in Ukraine has now entered its third year, and Ukraine still needs both military and financial support.

The US Treasury posted a photo on the social media platform X showing US Treasury Secretary Scott Bessent and Ukraine’s First Deputy Prime Minister Yulia Svyrydenko signing the deal. In the post, the Treasury said the deal “clearly signals the Trump Administration's commitment to a free, sovereign, prosperous Ukraine”.

Svyrydenko also shared details of the agreement on X. She said, “In addition to direct financial contributions, it may also provide NEW assistance – for example, air defence systems for Ukraine.” However, US officials have not yet confirmed whether this military assistance will be included.

Ukraine is known for its large deposits of rare earth metals, which are used in items like smartphones, electric vehicles, and military equipment. These minerals are also important for global industries, but most rare earth mining today is controlled by China. This deal gives the US a new source of supply at a time when the US and China are locked in a trade war.

President Trump has said many times that the US should “get something” in return for the billions it gives in aid. The United States has already given Ukraine more than $72 billion in military aid since Russia invaded in 2022, according to Germany’s Kiel Institute.

Before the signing, Trump once again said the US must benefit from the aid it gives, which is why securing access to Ukraine’s mineral resources was important to him.

Even though the US will gain access to Ukraine’s minerals, Svyrydenko confirmed that Ukraine controls how and where the minerals are extracted. “Ukraine determines what and where to extract,” she said. She also said Ukraine’s subsoil will remain the property of Ukraine.

Ukraine is also rich in other natural resources such as iron, uranium, and natural gas. These are seen as key for its long-term economic recovery.

Importantly, Svyrydenko said the agreement does not create any debt obligations for Ukraine. She explained that this was a major point of concern during the long negotiations.

The deal was also designed to follow Ukraine’s constitution and align with its hopes of joining the European Union. These two points were key parts of Ukraine’s negotiation strategy.

Although the new agreement is focused on minerals and investment, it is part of a bigger picture. The US and Ukraine are also working on peace efforts to end the war. These talks have been happening separately.

President Trump has taken a new approach to the war compared to past US policies. He has shown a softer stance towards Russia and, at times, has wrongly blamed Ukrainian President Volodymyr Zelenskiy for the war.

Trump’s peace plan includes a proposal that would allow Russia to keep Crimea, which it took over in 2014, and possibly four other regions. But Zelenskiy has strongly opposed this idea. He said Ukraine would never agree to such a deal because it would go against the country’s constitution.

Svyrydenko said the agreement is more than just a deal between two countries. “Importantly, the agreement sends a signal to global partners that long-term cooperation with Ukraine, over decades, is not only possible but reliable,” she wrote on X.

A draft of the agreement, seen by Reuters earlier in the day, showed that Ukraine succeeded in removing a requirement to repay the US for past military aid. However, the deal does not include any direct US security guarantees for Ukraine.

At the same time, Ukraine is in talks with European countries about forming an international security force if a peace deal is reached with Russia.

 

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