The US and Ukraine have agreed a crucial minerals deal after months of negotiations in a major breakthrough for peace.
The deal is set to grant the US special access to new investment projects to develop Ukraine’s natural resources – including aluminum, graphite, oil and natural gas.
Initial efforts to sign a deal had crumbled in February after Zelensky’s confrontation with JD Vance and Trump in the Oval Office.
But the two countries’ presidents Donald Trump and Volodymyr Zelensky met at the Vatican ahead of Pope Francis’s funeral just days ago.
And now, the deal – which Trump has been pushing hard for – has been signed.
Initial efforts to sign a deal had crumbled in February after Zelensky’s confrontation with JD Vance and Trump in the Oval Office
REUTERS
The US and Ukraine have agreed a minerals deal after months of negotiations
REUTERS
A US Treasury statement released late on Wednesday, UK time, reads: “On April 30, the United States and Ukraine signed an agreement to establish the United States-Ukraine Reconstruction Investment Fund.
“In recognition of the significant financial and material support that the people of the United States have provided to the defence of Ukraine since Russia’s full-scale invasion, this economic partnership positions our two countries to work collaboratively and invest together to ensure that our mutual assets, talents, and capabilities can accelerate Ukraine’s economic recovery.
“Under the leadership of President Donald J Trump, the Treasury Department and the US International Development Finance Corporation (DFC) will work together with the Government of Ukraine to finalise program governance and advance this important partnership.”
LATEST AS DONALD TRUMP WRESTLES WITH UKRAINE:
Donald Trump and Volodymyr Zelensky met ahead of the Pope’s funeral
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Treasury Secretary Scott Bessent said: “Thanks to President Trump’s tireless efforts to secure a lasting peace, 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.
“As the President has said, the United States is committed to helping facilitate the end of this cruel and senseless war.
“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.
“President Trump envisioned this partnership between the American people and the Ukrainian people to show both sides’ commitment to lasting peace and prosperity in Ukraine.
“And to be clear, no state or person who financed or supplied the Russian war machine will be allowed to benefit from the reconstruction of Ukraine.”
Nobody who helped the ‘Russian war machine’ will be ‘allowed to benefit from the reconstruction of Ukraine’, US Treasury chief Scott Bessent (pictured) vowed
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Bessent’s glowing statement came after he revealed the deal had almost been held up at the last minute.
“Our side is ready to sign. The Ukrainians decided last night to make some last-minute changes,” he told reporters around three hours before its signing – with Ukraine’s First Deputy Prime Minister Yulia Svyrydenko on the plane to Washington to round off negotiations.
“We’re sure that they will reconsider that and we are ready, if they are,” he added.
Svyrydenko later wrote on social media: “Together with the United States, we are creating the Fund that will attract global investment into our country.”
Following the deal, Alan Mendoza, executive director of security think tank the Henry Jackson Society, told GB News: “At a stroke, Volodymyr Zelensky has now achieved what most of Europe has wanted: a US stake in the future of Ukraine.
“This is a start, not a finish, to the idea of reconciling our transatlantic differences on this conflict.
“It also raises question marks about why the UK has not been as innovative in thinking about post-conflict Ukraine as Donald Trump.
“The UK has been one of Ukraine’s strongest supporters. We must make sure we do not miss out on helping Ukraine in its post-war recovery.”
