There is still no peace agreement, however, the U.S. will have access to Ukraine’s rare minerals in exchange for continued support in its war with Russia while they continue to work with the Trump administration in an effort to end its three-year war with Russia.
This from foxnews.com.
U.S. Treasury Secretary Scott Bessent
Ukrainian Economy Minister and Deputy Prime Minister Yulia Svyrydenko flew to Washington, D.C., Wednesday to help finalize the deal.
She wrote on X:
On behalf of the Government of Ukraine, I signed the Agreement on the Establishment of a United States—Ukraine Reconstruction Investment Fund. Together with the United States, we are creating the Fund that will attract global investment into our country.
Upon taking office, President Donald Trump said he wanted Ukraine’s rare earth materials as a condition for continued U.S. support in the war. He described it as reimbursement for the billions of dollars of U.S. military assistance given to Ukraine.
U.S. Treasury Secretary Scott Bessent and Ukrainian Economy Minister and Deputy Prime Minister Yulia Svyrydenko signed the minerals deal Wednesday in Washington D.C.
Treasury Secretary Scott Bessent said:
The agreement will establish the United States-Ukraine Reconstruction Investment Fund to help accelerate Ukraine’s economic recovery.
Further:
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.
And:
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.
The U.S. is seeking access to more than 20 raw materials considered strategically critical to its interests, including some non-minerals such as oil and natural gas. Among them are Ukraine’s deposits of titanium, which is used for making aircraft wings and other aerospace manufacturing, and uranium, which is used for nuclear power, medical equipment, and weapons. Ukraine also has lithium, graphite, and manganese, which are used in electric vehicle batteries.
The deal will establish an equal partnership between the two countries and last for 10 years. Financial contributions to a joint fund would be made in cash, and only new U.S. military aid would count toward the American share.
Svyrydenko said:
Neither party will have a majority vote, reflecting an equal partnership between Ukraine and the United States.
The fund is supported by the U.S. government through the U.S. International Development Finance Corporation.
The Trump administration is seeking a peace agreement with Russian President Vladimir Putin.
Unlike an earlier draft of the agreement, the deal would not conflict with Ukraine’s path toward European Union membership, a key provision for Kyiv.
Svyrydenko said:
Under the terms of the deal, the Ukrainian government will determine what minerals will be extracted and where.
Bloomberg reported:
‘We made a deal where our money is secure, where we can start digging and doing what we have to do,’ Trump said at a Cabinet meeting at the White House earlier Wednesday. ‘It’s also good for them because you’ll have an American presence at the site, and the American presence will keep a lot of bad actors out of the country or certainly out of the area where we’re doing the digging.’
