Ukraine, U.S. Ink Critical Minerals Pact, Trump Ties Surface

The United States and Ukraine signed a long-delayed minerals agreement on Wednesday, which the Trump administration hailed as a renewed form of U.S. commitment to Kyiv following the halt of military aid.

After two months of negotiations, Ukraine secured full sovereignty over its rare earth resources—critical to modern technologies and largely untapped—despite earlier demands by former President Donald Trump that Kyiv offer access to its mineral wealth in return for U.S. military aid supplied under President Joe Biden.

Ukraine ultimately accepted the deal, viewing it as a path to long-term U.S. investment, even as Trump signals a broader retrenchment of American security commitments.

At the signing in Washington, Treasury Secretary Scott Bessent said the deal reflects both nations' commitment to “lasting peace and prosperity in Ukraine,” and warned that no entity involved in backing Russia’s war would benefit from Ukraine’s postwar reconstruction. Notably, the Treasury statement described Russia’s assault as a “full-scale invasion”—a departure from Trump’s usual framing that assigns shared blame to Kyiv.

Ukrainian Prime Minister Denys Shmygal called the agreement “good, equal, and beneficial,” stressing that Ukraine would retain full control over its land, infrastructure, and natural resources. The two countries will form a Reconstruction Investment Fund with equal voting rights, and Ukraine will not be required to repay any U.S. aid provided since the 2022 invasion. Profits from the fund will be reinvested exclusively in Ukraine.

Economy Minister Yulia Svyrydenko said the deal covers investment in mining, oil and gas, and supporting infrastructure.

Trump had originally demanded $500 billion in mineral concessions—far exceeding U.S. wartime aid—but has since promoted the deal as a means to deter “bad actors” from the mineral zones. Speaking Wednesday, Trump said U.S. presence on the ground would help keep threats at bay.

At a separate town hall event, Trump said he told President Volodymyr Zelensky at a recent Vatican meeting that signing the deal would be “very good” because “Russia is much bigger and much stronger.” Asked if the deal might deter Russian President Vladimir Putin, Trump replied, “Well, it could.”

Meanwhile, Secretary of State Marco Rubio warned that U.S. mediation efforts could end unless both sides offer “concrete proposals.” Trump continues to press for a peace settlement involving Ukraine ceding territory taken by Russia, which has rebuffed U.S.-led calls for a temporary ceasefire.

While President Zelensky remains firm against recognizing Russian control over Crimea, he has sought to align publicly with Trump’s diplomatic overtures following a contentious White House meeting in February.

Democratic Congressman Gregory Meeks denounced the minerals deal as “Trump’s extortion of Ukraine,” urging the former president to focus on pressuring Putin rather than targeting Zelensky.

Ukraine holds about five percent of the world’s known mineral and rare earth resources, including vast reserves of graphite, manganese, titanium, and Europe’s largest lithium deposits. However, many of these resources remain untapped or lie in areas under Russian occupation.