The United States and Ukraine reached an agreement on access to Ukraine’s natural resources on Wednesday, according to a person familiar with the pact, in a movement that Kiev sought to solidify President Donald Trump’s support in ceasefire negotiations with Russia.
The agreement will grant the US privileged access to new investment projects to develop Ukraine’s natural resources, including aluminum, graffiti, oil and natural gas.
This is seen as essential to fostering Trump’s goodwill against Kiev, while its administration seeks to end the war that began when Russia launched its large -scale invasion of Ukraine over three years ago.
“This agreement clearly signals Russia that the Trump administration is committed to a free, sovereign, and prosperous Ukraine process in the long run,” Treasury Secretary Scott Bessent said in a statement.
Ukraine Minister of Economics, Yulia Svyrydenko, said in a social media post that “together with the United States, we are creating the background that will attract global investments to our country.”
After weeks of disputes between Ukrainian and American authorities about the text, the impulse for a breakthrough began to form earlier this week, with Ukrainian negotiators visiting Washington to get the final details. Both parties had agreed with the main agreement, but they were discussing technical details specified in separate texts.
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Ukrainian authorities expected to sign the comprehensive agreement and resolve the details later, but the US insisted that all components were agreed together, according to a source familiar with the matter.
“We made an agreement where our money is safe, where we can start excavating and do what we need to do,” Trump said at a White House cabinet meeting on Wednesday. “It’s also good for them because there will be an American presence on site, and the American presence will keep many bad actors outside the country or certainly outside the area where we are excavating.”
Reconstruction
The agreement will grant the US priority on profits transferred to a special reconstruction investment fund that would be controlled by Washington. According to a draft of the document seen by Bloomberg News, the US agreed that only future military assistance that may provide to Ukraine would tell you how their contribution to the fund. Ukraine Prime Minister Denys Shmyhal said Washington abandoned his demand that the reimbursement of billions of dollars in help has already provided since the Russian invasion.
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The agreement “strengthens the strategic partnership between the parties for Ukraine’s long -term reconstruction and modernization, in response to the large -scale destruction caused by the large -scale invasion of Russia”, according to the draft of the document seen by the document Bloomberg News.
Washington will also recognize Kiev’s intention that the agreement avoids any conflict with his joining plans to the European Union, according to the plan. This was long seen as a red line for Ukraine in the negotiations.
The US and Ukraine negotiated the deal for weeks amid Kiev’s initial concerns about giving a lot of the wealth of his country. Washington stated that the deal would help reimburse the US for the aid provided to Kiev and argue that this would really provide a security shield against more Russian aggression if US companies are active in the region.
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White House employees said Trump has become increasingly frustrated with Ukraine and Russia and the difficulty of making them agree to end Moscow’s invasion of the neighbor.
Trump threatened to “abandon” negotiations if there is no progress in the negotiations of ceasefire, raising concerns among Ukraine allies about the possibility of Kiev being guilty of the failure of conversations. With an agreement on natural resources between the US and Ukraine, Trump may be more lenient with Kiev.
An earlier attempt to close the deal failed earlier this year after Ukrainian President Volodymyr Zelensky conflict with Trump and Vice President JD Vance at the Oval Hall.
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American and Ukrainian authorities signed a memorandum of intent in early April and continued to resolve the technical details of the agreement. Zelensky then met individually with the US president at the Vatican on Saturday, before Pope Francis’ funeral.
The US and Ukraine negotiated the deal for weeks amid Kiev’s initial concerns about giving a lot of the wealth of his country. Washington stated that the deal would help reimburse the US for the aid provided to Kiev and argue that this would really provide a security shield against Russian aggression if US companies are active in the region. American and Ukrainian authorities signed a memorandum of intent in early April and continued to resolve the technical details of the agreement, which would grant the US priority on profits transferred to a special reconstruction investment fund that would be controlled by Washington. Zelensky then met individually with the US president at the Vatican on Saturday, before Pope Francis’ funeral.
As part of the agreement, the US and Ukraine will seek to create the conditions for “increasing investment in mining, energy and related technology in Ukraine,” according to the draft of the document. Washington also recognizes Kiev’s intentions that the deal avoid any conflict with his European Union adherence plans – a long time as a red line for Ukraine in negotiations.
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