In a significant development for both economic and geopolitical cooperation, the United States and Ukraine have entered into a formal economic partnership, securing American access to Ukraine’s valuable rare earth materials in return for jointly launching an investment fund aimed at rebuilding the war-torn country, CNN reports.
The accord was signed following months of protracted negotiations that, at times, stalled broader American assistance to Ukraine and sparked internal disagreements within both governments. The agreement was formally announced by the US Treasury Department on Wednesday.
“As the President has said, the United States is committed to helping facilitate the end of this cruel and senseless war,” stated Treasury Secretary Scott Bessent.
“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,” he added. “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.”
Representing Ukraine at the signing in Washington was Economy Minister Yulia Svyrydenko. In a post on X, she emphasized that Ukraine retains ultimate control over its natural resources. “All resources on our territory and in territorial waters belong to Ukraine,” she wrote. “It is the Ukrainian state that determines what and where to extract. Subsoil remains under Ukrainian ownership — this is clearly established in the Agreement.”
Originally, the deal was expected to be finalized during Ukrainian President Volodymyr Zelenskyy’s visit to the US capital in February. However, his trip ended abruptly after a contentious meeting at the White House, leaving the agreement unsigned at the time.
One of the most sensitive issues during the talks involved the question of whether the US would include security guarantees as part of the agreement. President Donald Trump reportedly rejected including those guarantees up front, insisting Ukraine sign the deal first and address security provisions later. In response, Zelenskyy criticized the draft, suggesting it was tantamount to asking him to “sell” his country.
Tensions escalated shortly afterward when President Trump temporarily suspended US aid to Ukraine. Although that decision was later reversed, it prompted several European nations to increase their commitments, viewing the episode as a warning about overreliance on US support.
Trump has portrayed the final agreement as a form of reciprocation by Ukraine for the substantial military and financial assistance Washington has provided since Russia launched its full-scale invasion in February 2022.
While the specific provisions of the newly signed agreement remain confidential, Ukrainian Prime Minister Denys Shmyhal clarified that the deal would not retroactively apply to aid already delivered. Speaking on Wednesday, Shmyhal described the initiative as “a strategic agreement on the establishment of an investment partnership fund.”
Under the terms of the accord, both countries will contribute equally to a joint fund that will finance reconstruction and development efforts across Ukraine. According to Shmyhal, future American military assistance to Ukraine may also be counted as a contribution toward this investment initiative.