The United States and Ukraine have signed a major agreement to share profits from mining rare earth minerals and other valuable resources. President Donald Trump praised the deal, saying it means America is finally getting something in return for the billions sent to Ukraine during the war.
U.S. Treasury Secretary Scott Bessent and Ukrainian Deputy Prime Minister Yulia Svyrydenko signed the deal Thursday night. It creates the United States–Ukraine Reconstruction Investment Fund, a joint project that will support Ukraine’s economy and split any profits evenly between the two countries.
President Trump said the idea came after realizing Ukraine has key materials that are vital for defense, energy, and tech. “They have great rare earths… minerals, materials — things that a lot of places don’t have,” he said. “We get much more, in theory, than the $350 billion [we’ve spent]. I didn’t want to look foolish.”
BREAKING: The U.S. and Ukraine have signed the minerals deal after months of negotiations. pic.twitter.com/XzmYg2fuuz
— Fox News (@FoxNews) April 30, 2025
The road to the deal wasn’t easy. Talks stalled earlier this year when Ukrainian President Volodymyr Zelensky clashed with Trump during a public Oval Office meeting. But last week, the two leaders met at the Vatican and patched things up. Trump later said, “We had a dispute, but he’s in a tough spot. I think he understands the picture now, and he wants to make a deal.”
The agreement is being called a turning point. Secretary of State Marco Rubio, who has pushed for real progress in Ukraine, said: “Thanks to [Trump’s] leadership, the U.S. and Ukraine signed a milestone in our shared prosperity and a step toward ending the war.”
Ukrainian Prime Minister Denys Shmyhal said the deal is “good, equal, and beneficial,” and will now head to Ukraine’s parliament for approval. The Foreign Ministry also praised it as a key step in building a stronger Ukraine–U.S. partnership.
Bessent confirms the US and Ukraine have agreed to a new economic partnership, or as Trump calls it, the “rare-earth deal”.
This will allow the US to recoup war funding, via Ukraine’s minerals, natural resources, etc.
One step closer to peace!
— Clandestine (@WarClandestine) April 30, 2025
While the full agreement hasn’t been released, Ukraine’s government says the fund will be jointly owned, with no new debt to the U.S. and no blocks to Ukraine possibly joining the European Union in the future.