Ukraine’s Prime Minister Denys Shmyhal announced that Kyiv and Washington have reached a major minerals agreement, marking a pivotal moment in US-Ukraine relations. The deal, which includes provisions for an “investment fund” to aid Ukraine’s reconstruction, is seen as a step toward closer economic cooperation, though security guarantees remain ambiguous.
Speaking to Ukrainian television, Shmyhal highlighted a clause stating that the US would support Ukraine’s efforts to secure lasting peace. However, reports indicate that Washington has dropped its initial demand for $500 billion in potential mineral revenues without offering firm security commitments. The agreement comes after a tense exchange between US President Donald Trump and Ukrainian President Volodymyr Zelensky, who have sparred publicly over aid and Ukraine’s war efforts.
Trump, who expects Zelensky in Washington this week to formalize the deal, reiterated that US military support remains conditional. “Maybe until we have a deal with Russia,” he told reporters, emphasizing the need for a resolution to the conflict. Trump also stressed that American taxpayers should see financial returns on the aid provided, suggesting the minerals deal is part of that strategy.
The agreement grants US access to Ukraine’s vast mineral reserves, including lithium, titanium, and rare earth metals, resources critical to global industries. While Kyiv hopes that this financial partnership will incentivize the US to continue its support, concerns are growing in Ukraine and Europe over Washington’s recent diplomatic engagements with Moscow.
Russian President Vladimir Putin has reportedly offered the US access to minerals from Russian-occupied Ukrainian territories, further fueling fears that Ukraine and its allies could be sidelined in future peace negotiations. As US policy shifts toward a more transactional approach under Trump’s “America First” doctrine, this deal could set a precedent for how American foreign aid is structured in the years ahead.
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