Ukraine-United States Finally Sign Mineral Agreement

JAKARTA - Ukraine and the United States signed a deal strongly promoted by US President Donald Trump that would grant the US special access to new Ukrainian mineral transactions and fund investments in Ukraine's reconstruction.

The two countries signed the deal on Wednesday, April 30, local time in Washington after months of sometimes tense negotiations, with uncertainty continuing into the final moments with news of constraints in the last minute.

The deal forms a joint investment fund for Ukraine's reconstruction as Trump seeks to secure a peaceful settlement in Russia's three-year war in Ukraine.

The deal is at the heart of Kyiv's efforts to improve relations with Trump and the White House, which strained after he took office in January.

Reported by Reuters on Thursday, May 1, US Treasury Secretary Scott Bessent and Ukrainian First Deputy Prime Minister Yulia Svyrydenko were seen signing the agreement in a photo posted on X by the Treasury Department.

The agreement "clearly signifies the Trump Administration's commitment to a free, sovereign, and prosperous Ukraine."

Svyrydenko wrote on X that the deal arranged for Washington to contribute to the fund.

Washington has become Ukraine's largest single military donor since the 2022 Russian invasion with the help of more than 64 billion euros ($72 billion), according to Germany's Kiel Institute.

Prior to signing, Trump repeated on Wednesday, the US had to get something to help Kyiv, so efforts to secure an agreement to deposit abundant rare earth minerals in Ukraine.

In announcing the deal, the US Treasury said the partnership acknowledged "the significant financial and material support that the United States people have provided for Ukraine's defense since Russia's full-scale invasion."

The draft agreement seen by Reuters earlier shows Ukraine securing the abolition of any requirement to pay back the US for previous military aid, something Kyiv strongly opposes.