The United States and Ukraine have signed a minerals deal, the Treasury Department announced Wednesday, April 30. The agreement, originally set to be signed in February, was delayed following a tense Oval Office meeting between President Donald Trump and Ukrainian President Volodymyr Zelenskyy in front of America’s press corps. Zelenskyy abruptly left Washington without a deal at that time.
Rare earth access and energy partnership
The minerals deal is a long-term economic partnership that grants the U.S. access to Ukraine’s rare earth elements — including aluminum, graphite, lithium and uranium — along with oil and natural gas, according to the Associated Press.
“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,” Treasury Secretary Scott Bessent said in a post on X.
Economic recovery and national security
The agreement creates the United States-Ukraine Reconstruction Investment Fund, which Bessent says will “help accelerate Ukraine’s economic recovery.”
Bessent also emphasized the deal’s importance for Ukraine’s national security, as the country remains at war with Russia following its February 2022 invasion.
“As the president has said, the United States is committed to helping facilitate the end of this cruel and senseless war,” Bessent said. “This 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.”
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According to the United Nations, more than 12,654 civilians have died following three years of fighting between Russia and Ukraine.
US aid and the continued conflict
Trump has previously voiced support for the deal, citing the billions in U.S. aid already sent to Ukraine. According to the State Department, the U.S. has provided $66.5 billion in military assistance since Russia launched its full-scale invasion.
Meanwhile, U.S. officials continue efforts to broker peace with Russian President Vladimir Putin. Less than a week ago, a Russian airstrike on Kyiv killed at least 12 people and injured nearly 90 others.
Ceasefire proposal and skepticism
Secretary of State Marco Rubio has said the war must end now, but expressed doubt over the Kremlin’s commitment to peace.
Russia has proposed a three-day ceasefire beginning May 8. However, Zelenskyy has not accepted the offer.
“Russia has consistently rejected everything and continues to manipulate the world, trying to deceive the United States. Now, yet again, another attempt at manipulation: For some reason everyone is supposed to wait until May 8 before ceasing fire — just to provide Putin with silence for his parade,” the Ukrainian president wrote on X, referencing Russia’s Victory Day parade, which is scheduled for May 9 and commemorates the end of World War II.
