US and Ukraine Sign Rare Minerals Economic Deal: What to Know

The United States and Ukraine finalized an agreement Wednesday granting Washington privileged access to Ukraine's rare-earth natural resources.

The Context

Wednesday's agreement is a strategic move by Kyiv aimed at reinforcing President Donald Trump's support in ongoing ceasefire negotiations with Russia. The agreement comes after Trump repeatedly called for Ukraine to reimburse the U.S. for its military aid.

What To Know

Francis died last week and the conclave to elect a successor will start next month. Francis, widely seen as among the most progressive leaders in the history of the Catholic Church, died from complications related to a stroke, followed by a coma and irreversible cardiocirculatory collapse.

The deal gives U.S. firms priority access to new investment projects involving key resources such as aluminum, graphite, oil and natural gas. Ukrainian officials view the agreement as vital to maintaining Trump's goodwill as his administration intensifies efforts to broker an end to the war launched by Russia's full-scale invasion more than three years ago.

U.S. Treasury Secretary Scott Bessent thanked Trump for his efforts on the heal, writing on X, formerly Twitter: "I am glad to announce the signing of today's historic economic partnership agreement between the United States and Ukraine establishing the United States-Ukraine Reconstruction Investment Fund to help accelerate Ukraine's economic recovery. Economic security is national security."

What People Are Saying

Yulia Svyrydenko, Ukraine's Minister of Economy, wrote on X, formerly Twitter: "On behalf of the Government of Ukraine, I signed the Agreement on the Establishment of a United States–Ukraine Reconstruction Investment Fund. Together with the United States, we are creating the Fund that will attract global investment into our country."

U.S. Treasury Secretary Scott Bessent posted on X: "Thanks to @POTUS @realDonaldTrump's tireless efforts to secure a lasting peace ... "

He added in his post that the U.S. International Development Finance Corporation "will work closely with the Government of Ukraine to establish this fund, and we look forward to quickly operationalizing this historic economic partnership for both the Ukrainian and American people."

What Happens Next

Ukrainian Minister of the Economy Yulia Svyrydenko said in a post on X,: Together with the United States, we are creating the Fund that will attract global investment into our country."

Update 4/30/25 7:47 p.m. ET: This story has been updated with additional information and context.