MercoPress. South Atlantic News Agency

US, Ukraine strike strategic minerals deal

Trump persuaded Zelensky to go along because “Russia is much bigger and much stronger”

The United States was granted access Wednesday to Ukraine’s rare earth minerals, critical for electronics, clean energy, and weapons, in exchange for establishing a joint investment fund. The economic partnership agreement signed in Washington after tense negotiations ensures Ukraine's full ownership of its resources while both nations contribute equally to and manage the fund.

However, the deal does not cover prior US aid (approximately US$ 123 billion since 2022) but may include new military assistance.

The understanding aims to bolster Ukraine’s economy and secure U.S. support amid its conflict with Russia. Ukraine’s mineral wealth, including 22 of 50 critical materials, is seen as an alternative to China’s dominance. Ukraine’s Economy Minister Yulia Svyrydenko signed on behalf of Kyiv. Ukraine’s Prime Minister Denys Shmyhal described the deal as “a strategic agreement on the establishment of an investment partnership fund.” Ukraine already has a similar agreement with the European Union, signed in 2021.

US President Donald Trump framed the deal as protecting his country's interests, while Ukraine views these new investments as security-enhancing. The State Department called it mutually beneficial, separate from peace talks, with further proposals expected soon.

Trump said he told Ukrainian President Volodymyr Zelensky during their weekend meeting on the sidelines of Pope Francis’ funeral that “it’s a very good thing” if he signed the deal because “Russia is much bigger and much stronger.”

“We made a deal today where we get, you know, much more in theory than the US$ 350 billion, but I wanted to be protected,” Trump explained. Zelensky was expected to strike the deal in February when Trump cut short his visit.

“As the President has said, the United States is committed to helping facilitate the end of this cruel and senseless war,” Treasury Secretary Scott Bessent said in a statement. “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,” he added. “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.”

US State Department spokeswoman Tammy Bruce said the agreement was “perfect” because it was crafted by the business-savvy Trump. “A lot of people have wanted this to happen. It benefits both countries immensely… and it’s not a surprise because it’s President Donald Trump, it is the perfect deal,” Bruce stressed. “When America is your friend and America is your partner, your nation is going to be better off, your citizens are going to be better off, and there is a security component just in our presence,” she further noted.