KYIV — After months of tense negotiations, America and Ukraine signed a deal that is expected to give Washington access to the country’s critical minerals and other natural resources, an agreement Kyiv hopes will secure long-term support for its defense against Russia.



According to Ukrainian officials, the version of the deal signed Wednesday is far more beneficial to Ukraine than previous versions, which they said reduced Kyiv to a junior partner and gave Washington unprecedented rights to the country’s resources.



The deal itself has not yet been made public, but the Economy Ministry and the prime minister’s office have offered some details.



The agreement — which the Ukrainian parliament must ratify — would establish a reconstruction fund for Ukraine that Ukrainian officials hope will be a vehicle to ensure future American military assistance.&nbsp;



<figure class="wp-block-image size-large"><img sizes="(max-width: 1024px) 100vw, 1024px" srcset="https://wp.nysun.com/wp-content/uploads/2025/02/ukraine-mine-1024x683.jpg 1024w, https://wp.nysun.com/wp-content/uploads/2025/02/ukraine-mine-300x200.jpg 300w, https://wp.nysun.com/wp-content/uploads/2025/02/ukraine-mine-144x96.jpg 144w, https://wp.nysun.com/wp-content/uploads/2025/02/ukraine-mine-768x512.jpg 768w, https://wp.nysun.com/wp-content/uploads/2025/02/ukraine-mine-1536x1024.jpg 1536w, https://wp.nysun.com/wp-content/uploads/2025/02/ukraine-mine-2048x1365.jpg 2048w" class="wp-image-269841" alt="FILE - A view of an ilmenite open pit mine in a canyon in the central region of Kirovohrad, Ukraine, Wednesday, Feb. 12, 2025." src="https://wp.nysun.com/wp-content/uploads/2025/02/ukraine-mine-1024x683.jpg" height="683" width="1024" loading="lazy" decoding="async"><figcaption class="wp-element-caption">An ilmenite open pit mine in the central region of Kirovohrad, Ukraine, February 12, 2025. AP/Efrem Lukatsky, file</figcaption></figure>



A previous agreement was nearly signed before being derailed in a tense Oval Office meeting involving President Trump, Vice President Vance, and President Zelensky.



“We have formed a version of the agreement that provides mutually beneficial conditions for both countries. This is an agreement in which the United States notes its commitment to promoting long-term peace in Ukraine and recognizes the contribution that Ukraine has made to global security by giving up its nuclear arsenal,” Ukraine’s economy minister, Yulia Svyrydenko, said in a post on Facebook.



The signing comes during what Secretary Rubio said would be a “very critical” week for American-led efforts to end the war that appear to have stalled. Ukraine sees the deal as a way to ensure that its biggest and most consequential ally stays engaged and doesn’t freeze military support, which has been key in its 3-year-old fight against Russia’s full-scale invasion.



“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,” Secretary Bessent said in a statement.



The deal covers minerals, including rare earth elements, but also other valuable resources including oil and natural gas, according to details released by Ukrainian officials. It does not include resources that are already a source of revenue for the Ukrainian state. In other words, any profits under the deal are dependent on the success of new investments.



<figure class="wp-block-image size-large"><img sizes="(max-width: 1024px) 100vw, 1024px" srcset="https://wp.nysun.com/wp-content/uploads/2025/04/bessent-1-1024x683.jpg 1024w, https://wp.nysun.com/wp-content/uploads/2025/04/bessent-1-300x200.jpg 300w, https://wp.nysun.com/wp-content/uploads/2025/04/bessent-1-144x96.jpg 144w, https://wp.nysun.com/wp-content/uploads/2025/04/bessent-1-768x512.jpg 768w, https://wp.nysun.com/wp-content/uploads/2025/04/bessent-1-1536x1024.jpg 1536w, https://wp.nysun.com/wp-content/uploads/2025/04/bessent-1-2048x1366.jpg 2048w" class="wp-image-281641" alt="Treasury Secretary Scott Bessent speaks, Wednesday, April 23, 2025, to the Institute of International Finance Global Outlook Forum at the Willard Hotel in Washington." src="https://wp.nysun.com/wp-content/uploads/2025/04/bessent-1-1024x683.jpg" height="683" width="1024" loading="lazy" decoding="async"><figcaption class="wp-element-caption">Secretary Bessent at Washington, D.C., on April 23, 2025. AP/Jacquelyn Martin</figcaption></figure>



While Mr. Trump has repeatedly expressed interest in Ukraine’s rare earth elements, it unclear what other minerals might be part of the deal. Earlier this year, the head of Ukraine’s presidential office, Andrii Yermak,&nbsp;said it could include lithium, titanium, or uranium.



The agreement ensures full ownership of the resources remains with Ukraine, according to Ukrainian officials. The state will determine where and what can be extracted.



It also does not refer to any debt obligations for Ukraine, the officials have said, meaning profits from the fund will not go toward paying America back for its previous support.



The rare earth metals involved in the deal are a group of 17 elements that are essential to many kinds of consumer technology, including cellphones, hard drives, and electric and hybrid vehicles.



Communist China is the world’s largest producer of rare earth elements, and both America and Europe have sought to reduce their dependence on Beijing.



Ukraine’s rare earth elements are largely untapped because of state policies regulating the industry, a lack of good information about deposits, and the war.



The industry’s potential is unclear since geological data is thin because mineral reserves are scattered across Ukraine, and existing studies are considered largely inadequate, according to businessmen and analysts.



In general, however, the outlook for Ukrainian natural resources is promising. The country’s reserves of titanium, a key component for the aerospace, medical, and automotive industries, are believed to be among Europe’s largest. 



Ukraine also holds some of Europe’s largest known reserves of lithium, which is required to produce batteries, ceramics, and glass.



In 2021, the Ukrainian mineral industry accounted for 6.1 percent of the country’s gross domestic product and 30 percent of exports.



An estimated 40 percent of Ukraine’s metallic mineral resources are inaccessible because of Russian occupation, according to data from We Build Ukraine, a Kyiv-based think tank. Ukraine has argued that it’s in the Trump administration’s interest to develop the remainder before Russian advances capture more.



Associated Press

President Zelensky, right, is greeted by President Trump at the White House, February 28, 2025. 

America, Ukraine Ink Minerals Deal That Kyiv Hopes Will Bolster Its Long-Term Security Against Russia

Pact signals Washington’s commitment to a ‘peace process centered on a free, sovereign, and prosperous Ukraine,’ Bessent says.

America, Ukraine Ink Minerals Deal That Kyiv Hopes Will Bolster Its Long-Term Security Against Russia | The New York Sun

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America, Ukraine Ink Minerals Deal That Kyiv Hopes Will Bolster Its Long-Term Security Against Russia

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