The United States and Ukraine have officially signed an agreement to establish the United States–Ukraine Reconstruction Investment Fund, a long-anticipated pact that grants the U.S. access to Ukrainian rare earth minerals, both governments announced on Wednesday.
“This deal sends a strong message to Russia that the Trump Administration is firmly dedicated to a peace framework grounded in a free, sovereign, and thriving Ukraine for the long haul,” said Treasury Secretary Scott Bessent in a statement. “President Trump envisioned this partnership between Americans and Ukrainians as a demonstration of both nations’ commitment to enduring peace and prosperity in Ukraine. And to be clear—any individual or nation that supported or armed the Russian war effort will not profit from Ukraine’s reconstruction.”
Ukraine’s Economy Minister Yulia Svyrydenko posted on X: “Together with the United States, we are launching a Fund that will draw international investment into Ukraine.”
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In a video shared on X, Bessent elaborated on the agreement.
“This collaboration enables the United States to invest jointly with Ukraine, unlocking the country’s economic potential, attracting American expertise, capital, and best practices in governance—all of which will enhance Ukraine’s business environment and speed up its economic recovery,” Bessent explained.
According to Ukrainian Prime Minister Denys Shmyhal and an official from President Zelenskyy's office, both nations were prepared to finalize agreements on strategic minerals and other assets earlier, but the U.S. insisted that the mineral resources deal and the investment fund paperwork be signed together.
President Donald Trump greets Ukrainian President Volodymyr Zelenskyy at the White House in Washington on Feb. 28, 2025.
Ben Curtis/AP
Ukraine had initially planned to handle the agreements on separate timelines, since the fund’s establishment was still under final negotiation, the source noted.
“They’ll be scrambling to wrap it up now,” the source added.
A Ukrainian official told ABC News that Kyiv was ready to proceed, but hit an unexpected delay when the U.S. required simultaneous signing of both the minerals and fund agreements. However, Bessent pushed back on that version of events during a Cabinet meeting on Wednesday, stating that Washington had been prepared to move forward, but Ukraine chose late Tuesday to “introduce some last-minute adjustments.”
