After weeks of tense negotiations, the U.S. and Ukraine have officially signed a controversial minerals deal, granting the U.S. significant access to Ukraine’s vast natural resources—particularly rare earth elements, aluminum, graphite, oil, and natural gas.
According to a Bloomberg report, Treasury Secretary Scott Bessent and Ukrainian Deputy Prime Minister Yulia Svyrydenko finalized the agreement in Washington on Wednesday.
This follows increasing pressure from the Trump administration, which demanded that Ukraine fully comply with the terms laid out or risk the deal being called off entirely.
What the deal includes: The agreement establishes a bilateral investment fund, with both the U.S. and Ukraine contributing equally. However, a critical caveat allows future American military aid to count as the U.S. share—essentially letting the U.S. leverage its defense assistance as financial input. The fund will be jointly managed with equal representation from both countries (three members each), which proponents say ensures oversight but critics argue gives the U.S. disproportionate influence. Revenue from the mining and extraction of Ukraine’s critical minerals will be split evenly. More importantly, the U.S. will receive “first right of refusal” on investment opportunities in Ukraine’s rare earth sector—something no European ally has been offered.