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US and Ukraine Sign Historic Minerals Deal. Here’s What’s Inside

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Photo of Vlad Litnarovych
Vlad Litnarovych
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US and Ukraine Sign Historic Minerals Deal. Here’s What’s Inside
Ukrainian Economy Minister Yulia Svyrydenko (R) and US Secretary of the Treasury Scott Bessent signing the minerals deal on April 30, 2025. (Source: Yulia Svyrydenko)

The United States and Ukraine signed a landmark minerals deal on April 30 that will give American investors access to Ukraine’s vast untapped mineral reserves while establishing a joint investment fund to drive the country’s postwar reconstruction.

The agreement, signed at the US Department of the Treasury, sets the stage for long-term cooperation between the two nations on critical minerals, energy infrastructure, and future military assistance Ukrainian Economy Minister Yulia Svyrydenko said on May 1.

“Thanks to President Trump’s tireless efforts to secure a lasting peace, I am glad to announce the signing of today’s historic economic partnership agreement between the United States and Ukraine establishing the United States-Ukraine Reconstruction Investment Fund,” said US Secretary of the Treasury Scott Bessent.

“As the President has said, the United States is committed to helping facilitate the end of this cruel and senseless war. This agreement signals clearly to Russia that the Trump Administration is committed to a peace process centered on a free, sovereign, and prosperous Ukraine over the long term. President Trump envisioned this partnership between the American people and the Ukrainian people to show both sides’ commitment to lasting peace and prosperity in Ukraine. And to be clear, no state or person who financed or supplied the Russian war machine will be allowed to benefit from the reconstruction of Ukraine.”

Svyrydenko, who signed on behalf of Ukraine, called the deal a “true partnership,” noting that “we are creating a fund to attract global investment into our country.” She emphasized that Ukraine will retain full ownership and control over its natural resources, including those found in territorial waters.

According to Svyrydenko, Ukraine will determine which resources can be developed under the agreement. The fund is structured as a 50/50 partnership between Washington and Kyiv, with both sides jointly selecting investment projects.

It will focus on the extraction of key minerals, oil and gas development, as well as infrastructure and processing facilities. Revenues from the fund over the first ten years will be reinvested in new initiatives and reconstruction efforts.

“These terms will be subject to further discussion,” she added, noting that in addition to financial contributions, the US may also offer support such as air defense systems.

Management of the fund will be shared equally, without either side holding dominant authority.

Ukraine’s state-owned energy firms, including oil and gas producer Ukrnafta and nuclear operator Energoatom, will remain under full state ownership, Svyrydenko confirmed.

“Its implementation will allow both countries to expand their economic potential through equal cooperation and investment,” Svyrydenko said.

The agreement is designed to comply with Ukraine’s Constitution and support the country’s path toward EU integration.

According to Svyrydenko, only targeted changes to Ukraine’s Budget Code will be needed to implement the fund, pending ratification by the Verkhovna Rada.

The official document—12 pages in total—lays out broad political parameters for cooperation, including future US assistance, military and otherwise. A more detailed technical agreement is still being drafted and will define critical aspects of the partnership.

A list of 57 minerals is included in the agreement, it covers Ukrainian production of aluminum, antimony, arsenic, barite, beryllium, bismuth, cerium, cesium, chromium, cobalt, copper, dysprosium, erbium, europium, fluorine, fluorspar, gadolinium, gallium, germanium, gold, graphite, hafnium, holmium, indium, iridium, lanthanum, lithium, lutetium, magnesium, manganese, neodymium, nickel, niobium, and palladium, platinum, potassium, praseodymium, rhodium, rubidium, ruthenium, samarium, scandium, tantalum, tellurium, terbium, thulium, tin, titanium, tungsten, uranium, vanadium, ytterbium, yttrium, zinc, zirconium, oil and natural gas. The deal applies only to new deposits licensed after the agreement enters into force and may be expanded only by mutual consent.

By securing access to Ukraine’s vast mineral reserves, American companies gain a critical edge in clean energy, high-tech manufacturing, defense, and infrastructure development. The partnership not only strengthens US supply chains in key sectors like batteries, semiconductors, and aerospace but also positions the US as a leading investor in Ukraine’s economic recovery and industrial future.

Notably, US companies will have access to mining auctions or direct negotiations on terms equal to other global players. Disputes will be handled equally through consultations, without subjecting Ukraine to US jurisdiction.

Ukraine will invest proceeds from licensing and royalties into the fund and may also transfer additional resources. American contributions will include financial support and military aid.

“If the [US government] provides new military assistance of any kind—including weapons systems, ammunition, technology, or training—its capital share in the fund will be increased by the estimated value of that support,” the agreement states.

This partnership is founded on equality and mutual benefit, designed for long-term recovery, security, and prosperity for Ukraine, while also generating new business and investment opportunities for the United States and its companies.

Speaking to NewsNation just hours after the signing, President Donald Trump said: “We made a deal today where we get, you know, much more in theory, than the $350 billion, but I wanted to be protected… I didn’t want to be out there and look foolish.”

Previously, Ukrainian Prime Minister Denys Shmyhal had announced days earlier that the US had dropped its earlier demand for Kyiv to compensate for military assistance received since Russia’s full-scale invasion in 2022.

Earlier, Svyrydenko announced a significant step toward finalizing the Economic Partnership Agreement with the United States.

According to her, Ukraine and the United States signed a memorandum today, marking the beginning of constructive cooperation between both countries. This memorandum signals the intention to finalize and sign an agreement that will benefit both nations.

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