Officials from the United States and Ukraine formalized a bilateral agreement Wednesday establishing a joint fund linked to Ukraine’s mineral and rare earth assets, acknowledging American financial support that has reached $175 billion since the Russian invasion began.
The accord, signed by Treasury Secretary Scott Bessent and First Deputy Prime Minister Yulia Svyrydenko, concludes negotiations that almost derailed at the final hour.
According to Ukrainian government statements, both nations will maintain equal 50% stakes in the investment partnership with matching voting privileges. Ukrainian lawmakers must still ratify the agreement before implementation.
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“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,” Bessent said in a formal statement following the ceremony.
Geological surveys indicate Ukraine possesses roughly 5% of worldwide mineral deposits, including valuable reserves of graphite, titanium, and lithium used in advanced technology applications.
During an official briefing, Ukrainian Prime Minister Denys Shmyhal addressed sovereignty concerns: “Ukraine would retain full control over its mineral resources, infrastructure and natural resources,” noting the arrangement would “ensure revenue by establishing contracts on a ‘take-or-pay’ basis.”
While meeting Ukrainian President Volodymyr Zelensky at the Vatican last week, President Trump remarked: “I was telling him that it’s a very good thing if we can produce a deal that you sign it, because Russia is much bigger and much stronger. Russia is just chugging forward.”
Previous proposals contained more stringent conditions for Ukraine than the final text.
“Together with the United States, we are creating the fund that will attract global investment into our country,” Svyrydenko wrote in her announcement on X.
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