Although Russian invasion forces bombed the threat of Russian invasion forces in the Donetsk region of Ukraine on February 26, 2025, they still loaded the earth and minerals on an open-pit mine near the frontline.
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The United States and Ukraine have signed a long-awaited mineral agreement to give Washington priority to Kiev’s natural resources in exchange for the establishment of a reconstruction investment fund.
The highly anticipated deal has been more than three years since Russia's full-scale invasion of Ukraine, for a long time.
U.S. Treasury Secretary Scott Bessent said Wednesday that the economic partnership will allow both countries to jointly invest to accelerate Ukraine's economic recovery and help "promote the end of this cruel and ruthless war."
"This agreement clearly demonstrates that the Russian government will be committed to a long-term peace process centered on freedom, sovereignty and prosperity," Besent said in a statement.
Since the inauguration in January, Trump has been reaching an agreement with Ukraine that it would jointly develop and monetize Kiev's rare earth, key minerals, oil, oil, gas and other natural resources, will take effective action as compensation for Russian and Russian aid throughout the war.
In this handout photo posted through the official social media channel of the Ukrainian Presidential Office, Ukrainian President Volodymyr Zelenskyy (R) was held at the funeral of Pope Francis with U.S. President Donald Trump at the Pope Funeral at St. Peter's Basilica on April 26, 2025, Vatican Cathedral in Vatican City, Vatican City.
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Trump said in a comment to the news network’s city hall that the deal represents the return on the money the U.S. has spent so far on supporting the Ukrainian war effort.
Trump added that he "want to be protected. I don't want to look stupid there."
The U.S. president also confirmed that both attended Pope Francis’ funeral last week when he talked about the mineral deal with Ukrainian President Volodymyr Zelenskyy.
Zelenskyy shows that the outline of a deal has been reached in mid-April.
Ukraine's Minister of Economic Development and Trade Yulia Svyrydenko said on Wednesday that the economic agreement could succeed for the United States and Ukraine.
"The agreement will be a signal for other global players that long-term cooperation with Ukraine has been reliable - for decades," Svyrydenko said through social media platform X.
As part of the agreement, Svyrydenko said Ukraine “decides where and what to extract.”
She added that the fund was created on a 50-50 basis, reflecting an equal partnership between Washington and Kiev. Svyrydenko said neither side will lead the vote.
- CNBC's Holly Ellyatt contributed to the report.