Ukraine, U.S. sign economic deal sought by Trump as payback for war support

Trump indicated in February that he wanted access to Ukraine’s rare earth materials as a condition for continued U.S. support in the war.

The U.S. and Ukraine announced on Wednesday an economic agreement after a weeks-long press by U.S. President Donald Trump on Ukraine to compensate Washington for billions in military and economic assistance to help Ukraine repel the Russian invasion.

Treasury Secretary Scott Bessent said in a video posted to X that “this partnership allows the United States to invest alongside Ukraine, to unlock Ukraine’s growth assets, mobilize American talent, capital and governance standards that will improve Ukraine’s investment climate and accelerate Ukraine’s economic recovery.”

The announcement comes at a critical moment in the war as Trump has grown increasingly frustrated with leaders of Russia and Ukraine with the brutal fighting dragging on.

The American president has criticized his Ukrainian President Volodymyr Zelenskyy, for steps that he said were prolonging the killing, and he has rebuked Russian President Vladimir Putin for complicating negotiations with “very bad timing” in launching deadly strikes on Kyiv.

Trump on Saturday met with Zelenskyy on the sidelines of Pope Francis’ funeral.

Ukraine’s Economy Minister Yulia Svyrydenko in a post on X celebrated the breakthrough.

“Together with the United States, we are creating the Fund that will attract global investment to our country,” she said.

The two sides offered only barebone details about the structure of the deal, but it is expected to give the U.S. access to its valuable rare minerals in the hopes of ensuring continued American support for Kyiv in its grinding war with Russia.