On Wednesday, the US and Ukraine signed a deal that will establish a new investment and reconstruction fund to give the US access to Ukrainian rare earth minerals and other natural resources.
“I am glad to announce the signing of today’s historic economic partnership agreement between the United States and Ukraine establishing the United States-Ukraine Reconstruction Investment Fund,” said US Treasury Secretary Scott Bessent.
Bessent said the deal “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.”
While it does not appear Ukraine received any concrete security guarantees as part of the deal, it means the US now has more of an interest in staying involved in the country’s affairs. Bessent said the 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.”
The signing of the deal comes after months of contentious negotiations, which included the Oval Office blow-up between Ukrainian President Volodymyr Zelensky, Vice President JD Vance, and President Trump.
Trump has been saying that Ukraine owes the US hundreds of billions of dollars for its spending on the proxy war, an idea Zelensky has rejected. Yulia Svyrydenko, Ukraine’s first deputy prime minister, who signed the deal with Bessent in Washington, said the agreement didn’t include any sort of debt repayment.
“The agreement does not contain any mention of any debt obligations of Ukraine to the United States. The implementation of the agreement will allow both countries to expand their economic potential through equal cooperation and investment,” she said.
