US secures access to Ukraine’s rare minerals in landmark deal

The United States and Ukraine have signed a historic agreement granting Washington access to Ukraine’s rare mineral resources.

The deal, finalised Wednesday evening, forms part of a broader Reconstruction Investment Fund, to be co-managed equally by both nations.

The agreement, months in the making, is seen as Kyiv’s attempt to secure continued US military and political support amid uncertainty over future American aid under President Donald Trump’s administration.

“Together with the United States, we are creating the fund that will attract global investment into our country,” wrote Ukraine’s First Deputy Prime Minister Yulia Svyrydenko on X.

The agreement guarantees equal decision-making power, with neither side holding a majority vote.

While the U.S. gains significant strategic access to Ukraine’s vast rare earth and mineral resources, the deal preserves full Ukrainian ownership over its land and maritime territory, and Kyiv retains absolute control over extraction decisions. Ukraine’s subsoil resources are reaffirmed as state property under national law.

The deal does not require Ukraine to repay the billions of dollars in military and humanitarian aid it has received from Washington since Russia’s full-scale invasion began in 2022. This marks a sharp reversal from the position previously taken by Donald Trump, who had publicly floated the idea of demanding reimbursement up to $500 billion (€442 billion) from Ukraine’s future mineral revenue.

Ukrainian Prime Minister Denys Shmyhal hailed the agreement as a “diplomatic win”, calling it a key moment in protecting Ukraine’s sovereignty while deepening ties with its largest international backer.

The agreement also safeguards major state-owned enterprises, such as Ukrnafta and Energoatom, which will remain under public ownership with no changes to their legal status.