The United States and Ukraine signed a long-awaited economic agreement on Wednesday, April 30, granting the U.S. preferential access to Ukrainian mineral projects in exchange for creating a new investment fund aimed at supporting Ukraine’s reconstruction and economic recovery.
The agreement, titled the United States-Ukraine Reconstruction Investment Fund, was signed by U.S. Treasury Secretary Scott Bessent and Ukrainian First Deputy Prime Minister Yulia Svyrydenko. According to a fact sheet released by the White House, the deal establishes a fund that will collect 50% of royalties and license fees from Ukrainian natural resource projects and reinvest those funds into future development initiatives in the country.
“This partnership represents the United States taking an economic stake in securing a free, peaceful, and sovereign future for Ukraine,” White House Press Secretary Karoline Leavitt said at a briefing on Thursday, describing the deal as historic.
Ukraine has since published the full agreement, describing it as a tool to encourage transparent and accountable investment into key sectors of the economy. The document also references “Russia’s full-scale invasion of Ukraine,” underlining the broader geopolitical backdrop of the partnership.
The agreement, originally proposed months ago, had stalled following a contentious Oval Office exchange between U.S. President Donald Trump and Ukrainian President Volodymyr Zelensky in late February. Relations appeared to cool, and Zelensky’s visit to Washington was cut short. However, momentum resumed following an encounter between the two leaders at Pope Francis’ funeral in April, where Trump later said he urged Zelensky to finalize the deal.
“This is about helping Ukraine build back stronger,” Bessent wrote on social media after the signing. “Economic security is national security.”
Svyrydenko emphasized that the agreement does not compromise Ukraine’s sovereignty over its natural resources. “Full ownership and control remain with Ukraine. All resources on our territory and in territorial waters belong to Ukraine,” she posted on X (formerly Twitter).
Political reactions have been mixed. Republican U.S. Secretary of State Marco Rubio praised the deal as a “milestone in shared prosperity,” while Democratic Congressman Gregory Meeks criticized it as “Donald Trump’s extortion of Ukraine,” suggesting it could distract from diplomatic efforts to end the war.
Ukrainian President Zelensky called the agreement a breakthrough for investment and legal modernization. In a separate statement, he urged continued international pressure on Russia, following overnight drone attacks in Odesa.
Russian officials dismissed the agreement as exploitation. Dmitry Medvedev, Russia’s former president, accused the U.S. of “forcing Ukraine to pay for weapons with its national wealth.”
Despite geopolitical tensions, the deal signals deepening economic ties between Washington and Kyiv, with both sides hoping the partnership can support Ukraine’s long-term recovery and stability.
