In a strategic shift in US-Ukraine relations, the United States and Ukraine have signed a major “economic partnership agreement”, allowing American access to Ukraine’s rare earth minerals in exchange for the creation of a joint investment fund for the country’s reconstruction and development, CNN reported on Wednesday.
The deal, signed after weeks of contentious negotiations, marks a significant step in post-war rebuilding efforts, while also reinforcing US economic and strategic interests in Eastern Europe.
US Treasury Secretary Scott Bessent emphasized the agreement as a message of long-term support for a sovereign and prosperous Ukraine, stating:
“This agreement signals clearly to Russia that the Trump Administration is committed to a peace process centred on a free, sovereign, and prosperous Ukraine.”
He further stressed that entities complicit in supporting Russia’s war machine will be excluded from benefiting in Ukraine’s recovery process.
Ukraine’s Economy Minister Yulia Svyrydenko, who signed the deal in the US, affirmed that Ukraine retains full control 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,” she posted on X.
While the specific terms of the deal remain classified, Ukrainian Prime Minister Denys Shmyhal described it as a “strategic and equal” partnership, noting:
“The American side may also count new military aid to Ukraine as a contribution to this fund.”
The deal comes amid renewed US commitment following earlier tensions, where a scheduled February signing during President Volodymyr Zelenskyy’s visit to Washington was derailed due to disagreements over security guarantees. Trump, at the time, halted US aid — a move that spurred stronger commitments from European allies.
Trump has since positioned the agreement as Ukraine “paying back” for US aid, though Shmyhal clarified that prior assistance will not be counted toward the joint fund.
The Reconstruction Investment Fund, with equal financial contributions and management shares from both nations, is expected to facilitate large-scale international investment, positioning Ukraine for long-term recovery and strategic alignment with Western partners.
As the war continues into its third year, the deal marks a new phase of Ukraine’s global partnerships — one that mixes economic cooperation, strategic deterrence, and a rebuilding roadmap for a war-torn nation.