U.S. and Ukraine Sign Landmark Minerals Deal

Source Credit : CNBC

The United States and Ukraine have finally signed a long-anticipated minerals agreement. This agreement grants Washington preferential access to Kyiv's natural resources in exchange for the establishment of a reconstruction investment fund.

The eagerly awaited agreement, which has been a top priority for U.S. President Donald Trump, has finally been reached after months of intense negotiations. This milestone comes over three years since Russia's full-scale invasion of Ukraine began.

On Wednesday, U.S. Secretary of the Treasury Scott Bessent announced an economic partnership that will enable both countries to collaborate on investments aimed at expediting Ukraine's economic recovery. This initiative is intended to not only boost Ukraine's economy but also to contribute towards bringing an end to the ongoing conflict.

“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,” Bessent said in a statement.

Since his inauguration in January, President Trump has been advocating for a minerals deal with Ukraine. He believes that a joint agreement to develop and monetize Kyiv's deposits of rare earths, critical minerals, oil, gas, and other natural resources would serve as a form of compensation for the aid provided by the United States to Ukraine during the conflict with Russia.

During a town hall on the NewsNation network, Trump commented that the deal signifies retribution for the funds the U.S. has invested in supporting Ukraine's war efforts.

Trump added that he “wanted to be protected. I didn’t want to be out there and look foolish.”

The President of the United States has confirmed that he engaged in discussions with Ukrainian President Volodymyr Zelenskyy regarding a minerals deal during their attendance at Pope Francis' funeral last week.