U.S., Ukraine sign reconstruction and minerals deal

Ukraine and the United States signed a long-anticipated agreement in Washington on Wednesday that grants the U.S. preferential access to Ukrainian mineral deals and launches a joint fund for post-war reconstruction—both key goals for the Trump administration.

After months of tense negotiations, Treasury Secretary Scott Bessent and Ukraine’s First Deputy Prime Minister Yulia Svyrydenko formalized the pact, which President Donald Trump has long framed as a way to recoup more than $100 billion in aid provided since Russia’s full-scale invasion in 2022.

“This partnership allows the United States to invest alongside Ukraine to unlock Ukraine’s growth assets, mobilize American talent, capital and governance standards that will improve Ukraine’s investment climate and accelerate Ukraine’s economic recovery,” Bessent said in a video statement announcing the deal.

Crucially, the agreement contains no requirement for Ukraine to repay past military assistance—a key concession Kyiv had insisted on. It also allows forthcoming U.S. military and financial aid, including potential air-defence systems, to count as contributions to the joint fund.

Details pending parliamentary approval
Full terms of the memorandum remain under wraps until Prime Minister Denys Shmyhal presents it to Ukraine’s parliament, the Verkhovna Rada, on Thursday. In televised remarks this week, Shmyhal emphasized that the deal would not jeopardize Ukraine’s EU accession prospects and described it as a “true partnership.”

Yet some lawmakers urged caution. Oleksandr Merezhko, chair of the Rada’s foreign affairs committee and a member of President Volodymyr Zelenskyy’s party, told ABC News, “I don’t know what we have signed. Judging by the prime minister’s statement, it is better than the initial version, and it seems we have dodged Trump’s idea to turn previously provided U.S. military and material aid into Ukrainian debts.”

Merezhko added that, politically, the accord offers a win for both sides: “It seems like Trump put pressure on us in an attempt to get a victory in his first 100 days in office. The devil is in the details. But we have improved relations with Trump, for whom it’s a win.”

Next steps and broader context
Beyond parliamentary ratification, Ukrainian officials are also exploring parallel talks with European partners to establish an international support force for any future peace settlement with Russia. In the meantime, both Kyiv and Washington underscore that this minerals deal marks the beginning of an expanded strategic partnership—one that pairs Ukraine’s resource potential with American capital and governance expertise.

Ukraine welcomed the pact as a landmark step in its economic recovery. Foreign Minister Andrii Sybiha called it a “significant development” in bilateral relations and briefed EU foreign policy chief Kaja Kallas on how the deal would bolster Ukraine’s economy and security Reuters.

United States officials framed the agreement as a model for long-term partnership. U.S. Treasury Secretary Scott Bessent said the fund would “unlock Ukraine’s growth assets” and mobilize American capital and governance standards to accelerate reconstruction—while President Trump emphasized it ensured a return on the more than $100 billion in aid provided since 2022 Reuters.

European Union capitals broadly viewed the deal as a strategic milestone but underscored ongoing support for Ukraine’s defense. Twelve EU members have asked for greater fiscal flexibility to boost their own military spending, and EU officials warned they would maintain sanctions on Russia regardless of U.S. policy shifts The GuardianFinancial Times.

France and Britain offered mixed reactions. French Prime Minister François Bayrou lamented that Trump’s hard-bargaining approach “creates two victims—Ukraine’s security and Europe’s alliance with the United States,” while Britain’s ambassador to Washington, Peter Mandelson, urged a “reset” of U.S.-Ukraine ties, calling Trump’s initiative “the only show in town” Reuters.

Russia denounced the agreement. Former President Dmitry Medvedev said it meant Kyiv had been “forced to pay” for U.S. aid with its mineral wealth, warning that the pact would complicate any peace talks by tying Ukraine’s resources to American interests Reuters.

China issued a cautionary note, with its Commerce Ministry warning it would oppose any deal struck “at China’s expense” and would take “resolute and reciprocal” countermeasures if necessary Reuter

Tags

News Politics Trump Zelenskyy Mineral deals