Ukraine, US sign minerals deal - Pact includes Kiev's natural resources, country's reconstruction
Kiev and Washington have signed an agreement promoted by US President Donald Trump that will give the United States preferential access to minerals and finance investments for Ukraine's reconstruction.
Both countries signed the agreement after months of tense negotiations, with uncertainty floating until the last moment.
The pact is crucial to improving Kiev's ties with Trump and the White House, which have soured since he took office in January. Ukrainian officials have hoped the deal will ensure continued U.S. support for the country's defense against Russia. U.S. Treasury Secretary Scott Bessent and Ukrainian First Deputy Prime Minister Yulia Svyrydenko were seen signing the agreement in a photo posted on the X network, which said the move "clearly signals the Trump Administration's commitment to a free, sovereign, and prosperous Ukraine."
Svyrydenko wrote that the pact provides for Washington to contribute to the aid fund.
"In addition to direct financial contributions, the US could also offer new assistance, such as air defense systems for Ukraine," she said. Washington did not directly address the suggestion.
The United States has been Ukraine's largest military donor since Russia's invasion in 2022, with aid of more than 64 billion euros, according to the Kiel Institute in Germany.
Before the signing, Trump reiterated that the US should get something in return for its aid to Kiev, implying the country's vast deposits of rare minerals.
Announcing the agreement, the US Treasury stressed that the partnership recognizes "the significant financial and material support that the people of the United States have provided to Ukraine since Russia's invasion."
Svyrydenko stressed that the agreement allows Ukraine to "determine what and where to extract from the underground" and that this will remain the property of Ukraine.
The country is rich in natural resources, including rare earth metals, which are used in consumer electronics, electric vehicles, and military applications. Ukraine also has large reserves of iron ore, uranium, and natural gas.
Global rare earth mining is currently dominated by China, which is embroiled in a trade war with the US following Trump's significant tariff hike.
Svyrydenko said Ukraine has no debt obligations to the United States under the agreement, a key point in long negotiations between the two countries. She said the pact was consistent with Kiev's constitution and its campaign to join the European Union.
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