Washington, DC [US], May 1 (ANI): The United States and Ukraine have formalized a strategic economic partnership agreement, granting Washington access to Ukraine’s rare earth mineral reserves in exchange for the creation of a joint investment fund in Ukraine, CNN reported.
The landmark agreement was signed following several weeks of intense and, at times, contentious negotiations that briefly stalled U.S. aid to Ukraine. The U.S. Treasury Department confirmed the deal on Wednesday, with Treasury Secretary Scott Bessent stating, “As the President has said, the United States is committed to helping facilitate the end of this cruel and senseless war.”
Bessent emphasized the long-term significance of the agreement, adding, “This agreement signals clearly to Russia that the Trump Administration is committed to a peace process centered on a free, sovereign, and prosperous Ukraine.” He also made clear that individuals or entities that financed or supplied Russia’s military efforts would be excluded from participating in Ukraine’s reconstruction.
Ukrainian Economy Minister Yulia Svyrydenko signed the agreement on behalf of her government during a visit to the United States. In a statement shared on X (formerly Twitter), she wrote, “On behalf of the Government of Ukraine, I signed the Agreement on the Establishment of a United States–Ukraine Reconstruction Investment Fund. Together with the United States, we are creating a fund that will attract global investment into our country.”
She further clarified Ukraine’s sovereignty over its natural resources: “It is the Ukrainian state that determines what and where to extract. Subsoil remains under Ukrainian ownership—this is clearly established in the agreement.”
The agreement was finalized just hours after a last-minute disagreement over the documentation nearly derailed the process. Ukrainian President Volodymyr Zelenskyy had originally been expected to sign the agreement during his visit to the U.S. in February. However, that visit was cut short after a contentious Oval Office meeting, and the agreement was postponed.
One of the key points of contention during negotiations involved security guarantees. Initially, President Trump declined to provide such guarantees, insisting Ukraine sign the agreement first and negotiate security provisions later. At the time, Zelenskyy criticized the proposed terms, suggesting they required him to “sell” his country. Since then, Ukrainian officials have expressed the belief that increased U.S. investment and business presence in Ukraine would naturally elevate American interest in Ukraine’s security.
Following Zelenskyy’s visit, President Trump ordered a temporary suspension of U.S. aid to Ukraine. Though the assistance has since been reinstated, the pause served as a wake-up call for European allies, many of whom have pledged to increase their support for Ukraine.
President Trump has framed the agreement as Ukraine “paying back” for the extensive aid it has received from the U.S. since the onset of Russia’s military offensive in 2022.
While the full text of the agreement has not yet been released, Ukrainian Prime Minister Denys Shmyhal stated on Sunday that it would not cover aid disbursed before the agreement’s signing. Speaking again on Wednesday, he described the deal as a “strategic agreement on the establishment of an investment partnership fund.”
Shmyhal explained that the fund would be co-financed and co-managed by both nations. “It is truly an equal and beneficial international agreement on joint investments in the development and recovery of Ukraine between the U.S. and Ukrainian governments,” he said. He also noted that future American military assistance to Ukraine may be counted as a contribution to the newly formed fund.
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