The United States will share future revenue from Ukrainian mineral reserves under an agreement announced by Trump administration on Wednesday when a joint investment fund is setting between countries.
The deal comes after months of stimulated negotiations, as the United States is trying to break up the end of Ukraine’s three -year war with Russia. It is intended to give President Trump’s personal stake in the country’s fate, while at the same time dealing with his concerns that the United States had provided Kiev a blank check to try to withstand Russia’s invasion.
“This agreement clearly marks Russia that Trump’s administration is committed to a peace process that focuses on a free, dominant and prosperous Ukraine in the long run,” Finance Minister Scott Bessent said in a statement. “President Trump envisioned this cooperation between the American people and the Ukrainian people to show the commitment of the two sides to constant peace and prosperity in Ukraine.”
He added: “And to be clear, no state or person who funded or handed the Russian war machine will be allowed to benefit from Ukraine’s reconstruction.”
Trump’s administration did not immediately provided details of the agreement and it was not clear what it meant about the future of US military support for Ukraine. A person who is familiar with the negotiations, discussing them on the condition of anonymity, said the final agreement did not include explicit guarantees for future US security assistance. Another said that the United States rejected this idea early in the process. Despite Fanfare, the agreement will be of little importance whether the fight against Ukraine and Russia insists.
However, Ukrainian supporters hope that the deal could lead Mr Trump to see the country as more than just a pit of money and an obstacle to improved relations with President Vladimir V. Putin in Russia.
The concept of giving the United States a share in Ukraine minerals was first proposed to Mr Trump by Ukrainian President Volodymyr Zelensky during a meeting on Trump Tower last September.
While the announcement did not mention any reference to Ukraine minerals, a Treasury spokesman said the agreement refers to the natural resources pact that had been negotiated.
The Treasury said the US company Finance Corporation will work with Ukraine to complete the details of the deal.
In a position on the Telegram, Ukrainian Prime Minister Denys Shmyhal wrote that the two countries would have equal voting rights to the fund and that Ukraine would maintain complete control of the underground, infrastructure and natural resources. He also said that the profits from the investment fund would be reinstated in Ukraine.
“Thanks to this agreement, we will be able to attract significant resources for reconstruction, start economic growth and receive the latest technologies from partners and a strategic investor in the United States,” Mr Shmyhal said, according to a translation.
In Washington, many of Ukraine’s allies strangled a limited sigh, calling the agreement a remarkable improvement over previous editions – and a sign that Kiev can work constructively with Mr Trump.
“They received a much better mineral agreement” than the one proposed for the first time, said William B. Taylor, a former US ambassador to Kiev. “The Americans received many Ukrainian proposals.”
“A good sign for ceasefire negotiations,” Mr Taylor added.
A former US official who is familiar with negotiations said Trump’s administration had rejected at least one Ukrainian attempt to include explicit security guarantees, such as the continuation of US military aid in KIEB.
However, the former official said the agreement would serve the important purpose of building good will with Mr Trump and gave him a financial interest in the country’s survival and stability.
The deal was delayed after an explosive meeting at the Oval Office in late February between President Trump and Mr Zelensky. In the two months since then, the main point in the negotiations focused on whether the US aid given to Ukraine since Russia began its complete invasion in February 2022 will be treated as a debt that Ukraine had to return.
Mr Trump said Ukraine must refund the money. Ukrainian officials said they agree to do so financially would punish the country for generations.
Ukraine initially proposed to draw up US investment in Ukraine mining as an incentive for the United States to support any peace agreement with security guarantees to prevent Russian aggression in the future.
But talks on the agreement have been disputed by their beginning in February. In addition to saying that Ukraine had to repay the United States for its help, Mr Trump also said that Ukraine should look at Europe and not the United States for any security guarantees.
The previous plans had rotated among what critics were called unstable blackmail of Ukraine by Trump’s administration and editions that included Ukraine signs, such as reports on US support for post -war security guarantees. Without them, Ukraine says, Russia could quickly violate any ceasefire or restart war after reconstruction and restructuring.
Mr Trump and Mr Zelensky were intended to sign an agreement at the White House in February. But instead of signing it, Mr Trump and Vice President JD Vance put Ukraine leader in front of television cameras, saying that they were not grateful for us. Mr. Zelensky was called upon to leave.
The Trump administration then briefly suspended the delivery of all US military aid and information on Ukraine. Mr Trump said Mr Zelensky “must be more grateful” for restarting the negotiations.
Mr Zelensky came forward with a view the next day, calling the Oval Office meeting “sad”.
Some inside and outside Ukraine have seen the agreement as nothing more than the United States exploiting Ukraine’s dependence on US weapons and financial support to gain control of valuable natural resources, without offering strong guarantees in return. US negotiators said US investment will prevent future aggression.
In a memorandum of intent to conclude the agreement signed on April 16, Ukraine and the United States described an agreement to set up a fund for investment in post -war reconstruction.
In addition to opening opportunities for US companies in mining, oil or gas, the fund could direct reconstruction work, is expected to be a multi -billion dollar business if a fire is achieved in US companies.
But Mr Zelensky has made it clear that the mineral agreement is not an end in itself. The conclusion of the agreement is aimed at clearing the road to more subsequent US military support talks and the terms of a possible ceasefire with Russia, he said.
“We see this agreement as a step towards greater security and stable security guarantees and I really hope it will work effectively,” Mr Zelensky said in March in a position in X.
Ukrainian authorities say the country has deposits with more than 20 critical minerals. A consultant company assessed them that it was worth several trillions of dollars. But it may not be easy to export, and the Soviet era maps that describe where critical deposits have never been modernized, nor have everyone have been thoroughly tested.
Ukraine is now gaining about $ 1 billion a year in natural resources, well below hundreds of billions of dollars, Mr Trump said he expects the United States to win the deal.
The revenue exchange agreement comes at a dangerous moment for Ukraine: Russian forces have understood the advantage on the battlefield and Mr Trump has approached Mr Putin.
A ceasefire agreement proposed by the United States-at least the terms that have been published-is publishing Russia. He will force Kiev to abandon his expectations for his accession to NATO, offer Ukraine only vague security guarantees and see the United States officially recognizing Crimea as Russian. Ukraine rejected this agreement.
Trump’s administration has repeatedly threatened to move away from peace negotiations. On Sunday, Mr Trump said he wanted a cease agreement in two weeks or less, he said a little more time could be acceptable.
But Mr Trump also insisted that the mineral agreement had to be signed. On Friday, he said Ukraine was at least three weeks delay in signing the US mineral agreement “we hope it will be signed immediately,” he wrote on Truth Social.
There was some uncertainty about the deal on Wednesday, as Ukrainian officials arrived in Washington and said they were looking for some delayed changes.
During a meeting of the White House cabinet, Mr Bessent expressed optimism that the agreement, which he said had arrived at first on the weekend, would soon be signed.
“The Ukrainians decided last night to make some last -minute changes,” Mr Bessent said. “We are sure they will review it and we are ready to sign this afternoon if they are.”
Kassandra Vinograd; Consistent maximum and Oleksandra mykolyshynn They contributed reports.
