The United States and Ukraine sign natural resources agreement

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The United States and Ukraine signed an “Economic Partnership” agreement on Wednesday that would give Washington access to the country's key minerals and natural resources, ending weeks of negotiations.

In the agreement signed by the U.S. Treasury Department would establish a “reconstruction investment fund” for Ukraine, Donald Trump insisted that it was a way to repay the U.S.'s past aid to Kiev.

This is because Trump struggles with his efforts to reach a peace deal between Ukraine and Russia, who promises to be U.S. president early in his second term.

The mineral agreement has been a huge source of tension between Washington and Kyiv.

It was at the forefront of agreement, but in February, in the Oval Office between Trump and Ukrainian President Volodymyr Zelenskyy, in which talks were only resumed.

Both parties cheer for the deal. U.S. Treasury Secretary Scott Bessent said in a statement that the United States is “committed to help promote the end of this cruel and meaningless war.”

He added that the agreement “clearly demonstrates the Russian Trump administration’s commitment to a long-term peace process centered on freedom, sovereignty and prosperity.”

Ukraine’s first deputy prime minister, Yulia Svyrydenko, celebrated the deal in an article on X, saying: “On behalf of the Ukrainian government, I signed an agreement on the establishment of the Ukrainian Reconstruction Investment Fund.

“Along with the United States, we are creating funds that will attract global investment in our country.”

The deal was in the championship, and the frustration in the White House of Russian President Vladimir Putin after a meeting at the funeral of Pope Francis last Saturday in the Vatican.

Even so, the 11th hour barrier threatens to stop the deal, as Washington says Ukraine is withdrawing some of its previous commitments, just as Svyrydenko arrives in the U.S. capital.

A familiar with the U.S. talks with Ukraine said the ultimate point related to governance, transparency mechanisms and fund traceability.

Svyrydenko highlighted several key provisions in the deal, which she said ensured full ownership and control of “all resources on our territory and territories” but remained in Ukraine.

Under the agreement, the Ukrainian state has determined which natural resources are extracted, and Svyrydenko said it outlined the “equal partnership” and the fund “with a 50/50 infrastructure.”

The fund will invest in the extraction of critical minerals, oil and gas, as well as related infrastructure and processing, and will jointly select projects. In the first decade, all profits generated by the fund will be reinvested in Ukraine.

Svyrydenko said that in addition to making financial contributions to the fund, the U.S. may provide further support, including air defense systems.

The fund “will be jointly managed” with neither party leading the way, allowing Keefe to convince Washington to initially demand a full control of Ukraine's natural resources.

Ukrainian businesses, such as oil and gas producer Ukrnafta and nuclear power company Energoatom, will remain in state ownership, Svyrydenko said.

She added that the agreement does not include provisions on any debt obligations of Ukraine to the United States, and its implementation allows the state to “expand its economic potential through equal cooperation and investment.”

After Kyiv was concerned about whether the deal would violate Ukraine’s sovereignty and undermine its path to EU membership, Svyrydenko said her negotiators ensured a language that conforms to its national constitution “and maintains a European integration curriculum in Ukraine.”