The United States on Thursday announced a new economic partnership agreement with Ukraine that grants American companies access to Ukraine’s rare earth minerals in exchange for establishing a joint Reconstruction Investment Fund to aid in Ukraine’s post-war recovery.
In recognition of the significant financial and material support the United States has provided since Russia’s full-scale invasion, this partnership aims to accelerate Ukraine’s economic recovery, said the U.S. Treasury Department in a statement.
The agreement, in negotiation for several months, formalises U.S. involvement in Ukraine’s economic rebuilding efforts. It also marks a major step toward deeper strategic cooperation between the two nations.
A Strategic Exchange
The deal gives the U.S. preferential—but not exclusive—access to Ukraine’s rare earth elements, which are critical for advanced technologies, defence systems, and clean energy industries. In return, the U.S. will co-establish a Reconstruction Investment Fund, designed to attract global capital into Ukraine’s rebuilding process. According to Reuters, the fund will be entitled to 50% of profits and royalties from new natural resource permits issued by the Ukrainian government.
Ukraine’s Economy Minister Yulia Svyrydenko confirmed the agreement on X (formerly Twitter), saying, “Together with the United States, we are creating a fund that will attract global investment into our country.”
Trump’s Role and Reaction
Former President Donald Trump, currently serving his second term, has reportedly been attempting to broker peace between Russia and Ukraine. Last week, after attending Pope Francis’ funeral, Trump expressed scepticism about Russian President Vladimir Putin’s intentions.
There was no reason for Putin to be shooting missiles into civilian areas… It makes me think that maybe he doesn’t want to stop the war, Trump posted. He also hinted that further diplomatic or economic measures, such as banking or secondary sanctions, might be needed.
Trump and Ukrainian President Volodymyr Zelenskyy met on the sidelines of the funeral, where Trump encouraged Ukraine to finalise the economic deal. “I told him it’s a very good thing—if we produce a deal, you should sign it,” Trump later said at a NewsNation town hall.
An earlier draft of the agreement was nearly signed in February but fell apart during a contentious televised meeting involving Zelenskyy, Trump, and Vice President J.D. Vance.
Scope and Limitations
Despite the U.S. gaining preferential access to Ukraine’s rare earth minerals, the agreement does not grant control over Ukraine’s mineral reserves or gas infrastructure. Instead, it lays the groundwork for shared investments, aimed at speeding up Ukraine’s reconstruction and encouraging international economic cooperation.
