U.S. President Donald Trump proudly proclaimed that Ukraine and the United States had just signed a major minerals deal. The deal, which was signed on Thursday, was symbolically represented by Yulia Svyrydenko, Ukraine’s Minister of Economic Development and Trade. This deal is poised to facilitate the joint development of Ukraine’s natural resources, which include rare earths, critical minerals, oil, and gas.
The full terms of the deal have yet to be disclosed. That said, we are hopeful that we will have a full agreement hammered out by next week. The Ukrainian parliament will need to ratify this soon-to-be signed agreement. This step will be monumental for deepening the bilateral engagement between the two countries.
Since his inauguration this past January, President Trump has aimed to establish such a minerals deal with Ukraine. The deal is intended as an offset for U.S. assistance provided to Ukraine. This support has been critical as Ukraine continues to fight an illegal and unprovoked war with Russia.
Deputy Prime Minister Yulia Svyrydenko couldn’t hide her excitement about the new partnership. On X (formerly Twitter), she proclaimed, “We are pleased to sign a Memorandum of Intent with our American partners, opening the way to an Economic Partnership Agreement and establishment of the US-Ukraine Investment Fund for the Reconstruction of Ukraine.”
That’s the assertion of U.S. Treasury Secretary Scott Bessent, who praised the deal’s importance, calling it “a good deal. He advised that they are wrapping things up for sure. Their intent is to have that full agreement done by April 26th. We’re still hashing out the particulars,” he said. Then we jumped right to what’s the big deal, which I believe is an 80-page implementation agreement because that’s what actually will get signed.
Ukrainian President Volodymyr Zelenskyy celebrated the goodwill nudging this memorandum of intent along. As he put it, “this is a memorandum of intent. And we have positive, constructive intentions.”
Svyrydenko emphasized all the good the deal would do. He commented: “There is much more to do, but the pace and remarkable progress already made provide hope that this narrative will be greatly advantageous for both countries.”
The joint initiative will shore up Ukraine’s economic stability. Second, it will better its own resource management to protect against ever-evolving geopolitical threats. Both countries are positioning themselves for the next phase of their relationship. Expectations are high as to how this deal could inform U.S.-Ukraine relations down the line.