US, Ukraine Sign Landmark Mineral Deal

Washington and Kyiv signed a landmark agreement this week that grants the United States access to Ukraine’s vast mineral wealth as part of a broader deal aimed at reinforcing US support for the country, bolstering its economy and shaping Ukraine’s reconstruction, the Wall Street Journal reported.

The agreement was signed Wednesday after months of tense negotiations. It will see the formation of the United States-Ukraine Reconstruction Investment Fund, through which profits from resource development will be reinvested in Ukraine for at least the next decade.

While American companies will gain joint access to Ukraine’s resources, including minerals, oil, and gas, Kyiv will retain ownership, the BBC noted.

Ukraine is believed to hold deposits of at least 20 out of 50 minerals deemed critical by Washington, including lithium, titanium, uranium, and rare earth elements, resources that are vital for defense and clean energy technologies.

Before Russia’s full-scale invasion in 2022, Ukraine accounted for six percent of global titanium production and held around three percent of known lithium reserves.

However, estimates suggest that between 20 percent and 40 percent of Ukraine’s critical mineral deposits are now in areas occupied by Russian forces.

While President Donald Trump had earlier insisted that Ukraine repay the estimated $350 billion in US military aid handed out by his predecessor, Joe Biden, Wednesday’s deal does not include any repayment conditions, Ukrainian Prime Minister Denys Shmyhal confirmed.

The agreement does include commitments for new US weapons deliveries, including air defense systems, but it lacks the concrete security guarantees that Kyiv and Europe have been pushing Washington to provide. US officials have nevertheless touted the deal as mutually beneficial, emphasizing that the presence of American businesses in Ukraine will deter Moscow from attacking the country again, while US Treasury Secretary Scott Bessent hailed it as a step towards ending the war, ABC News reported.

It received a mixed reception in Ukraine: While Kyiv officials welcomed it as “an important milestone in the Ukraine-US strategic partnership,” many lawmakers said they would need to see the final text before ratifying it.

Meanwhile, in Russia, Dmitry Medvedev criticized the agreement as a defeat for Ukraine, claiming that Trump had coerced Kyiv into “paying for American aid with minerals.”