Ukraine, US reach minerals deal
Sunday, May 4, 2025
Ukraine and the United States reached a deal on April 30 to give the US preferential access to new Ukrainian rare earth mineral deals and to create a new fund to attract investors and help in rebuilding war-torn Ukraine. It was signed in Washington by Treasury Secretary Scott Bessent for the US and First Vice Prime Minister Yulia Svyrydenko for Ukraine.
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Image: United States Department of the Treasury.
Image: Presschairman.
US President Donald Trump proposed the agreement, publicly stating that he expects something in return for military aid to Ukraine. It would give the US priority in new Ukrainian investments to mine 55 minerals – these include lithium, titanium, lanthanum, uranium, and cerium, among other rare earth and precious minerals.
The accord did not include debt obligations for Ukraine, – previously proposed, but rejected by Ukraine – and Kyiv would still decide what to mine and where. It also does not provide the US access to operations the Ukrainian side already profits from.
The Ukrainian side would be expected to deposit 50% of its future profits from government-owned resources listed above, while the US would help via monetary and military aid. No profits would be taken from the Fund for ten years.
The current version, establishing the so-called United States–Ukraine Reinvestment Fund, was reached after intense negotiations; a previous iteration – later derided by the Ukrainian side – was almost signed before a now-famous altercation between US President Donald Trump and his Ukrainian counterpart, Volodymyr Zelenskyy, devolved into Zelenskyy being told to leave the White House.
The signing was praised publicly by both sides – it "clearly signals the Trump Administration's commitment to a free, sovereign, prosperous Ukraine" – the White House said. "Importantly, the Agreement sends a signal to global partners that long-term cooperation with Ukraine – over decades – is not only possible but reliable", Svyrydenko posted on the social media platform X.
Svyrydenko also hoped for the deal to bring with it new support for Ukraine, though the American side did not directly respond to that.
Former president and prime minister under Vladimir Putin, now the deputy chairman of the Security Council of Russia, Dmitry Medvedev stated: "Trump has broken the Kyiv regime into paying for American aid with minerals. Now they will have to pay for military supplies with the national wealth of a disappearing country."
Sources
[edit]- Tom Balmforth, Yuliia Dysa and Trevor Hunnicutt. "Ukraine, US sign minerals deal sought by Trump" — Reuters, May 1, 2025
- Samya Kullab. "Ukraine and the US have finally signed a minerals deal. What does it include?" — The Associated Press, May 1, 2025
- Samya Kullab, Hanna Arhirova and Aamer Madhani. "US and Ukraine sign deal giving US access to country’s valuable mineral wealth" — The Associated Press, May 1, 2025
- David Brennan. "Ukraine, Russia react to controversial US minerals sharing deal" — ABC News, May 1, 2025
