Signing the agreement: "Signal to Russia"

Ukraine

US and Ukraine agree on the mineral agreement

Nora Fernstedt

Updated 00.30 | Published 2025-04-30 23.37

The US and Ukraine have now signed the mineral agreement.

This is confirmed by the US Treasury Department.

The cooperation between the countries will be valid for ten years.
The agreement with Trump and Ukraine's minerals
The agreement with Trump and Ukraine's minerals
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The announcement comes late on Wednesday evening, after both sides hinted during the day that they are close to an agreement.

"This agreement is a clear signal to Russia that the Trump administration is committed to a peace process that is based on a long-term free, independent and prosperous Ukraine," says Treasury Secretary Scott Bessent in a press release.

“And to be clear: No state or person that financed or equipped the Russian war machine will be allowed to profit from the reconstruction of Ukraine,” he continues.

Ukraine’s Deputy Prime Minister Yulia Svyrydenko also confirms that she has signed the agreement.

 

Scott Bessent and Yulia Svyrydenko sign the agreement.Photo: US Treasury Department

Joint fund

The agreement means that the countries will establish a joint investment fund for the reconstruction of Ukraine, with part of the profits going to the US.

The US will be given priority to invest in a number of Ukraine’s natural resources such as titanium, uranium, lithium and graphite. In exchange, the US will continue to provide support to Ukraine in Russia’s war of aggression.

All future military support to Ukraine will be counted as contributions to the fund.

Mine in Ukraine. Photo: AP

Cancelled after chaotic meeting

The agreement has been in the works for months. It was supposed to be signed in February. But talks between the countries were suspended after the chaotic meeting between Donald Trump and  Volodymyr Zelenskyj in Washington DC. 

Last Saturday, the leaders met for the first time since the chaotic meeting. They were captured in a photo sitting opposite each other on a chair in St. Peter's Basilica in Rome, in connection with the Pope's funeral.

According to the draft, the partnership between the countries will be valid for ten years.

Trump and Zelenskyj last met in Rome. Photo: AP