The US Treasury has announced it has signed a minerals deal with Ukraine and has agreed to establish an America-Ukraine reconstruction investment fund.
For Ukraine, the deal is seen as key to ensuring its access to future US military aid in its war against Russia.
The US Treasury said “in recognition of the significant financial and material support” the US has provided to the “defence of Ukraine… this economic partnership positions our two countries to work collaboratively and invest together to… accelerate Ukraine’s economic recovery”.
US Treasury secretary Scott Bessent said: “This agreement signals clearly to Russia that the Trump administration is committed to a peace process centered on a free, sovereign, and prosperous Ukraine over the long term.”
President Donald Trump indicated in February he wanted access to Ukraine’s rare earth materials, describing it as reimbursement for the billions of dollars in aid the US has given to Kyiv.
But talks stalled after a heated Oval Office meeting between him and President Volodymyr Zelenskyy, and reaching an agreement since then has proven difficult with strained relations between Washington and Kyiv.
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