The US and Ukraine sign long-awaited minerals deal to rebuild Kyiv (Photo: Getty Images)

Ukraine's parliament voted last Thursday to ratify a minerals deal with the United States which will give the US privileged access to new investment projects to develop Ukraine's aluminum, graphite, oil, and natural gas. The deal was signed on April 30 by US Treasury Secretary Scott Bessent and Ukrainian First Deputy Prime Minister Yulia Svyrydenko after a weekslong press by President Trump for Ukraine to compensate Washington for billions in military and economic assistance.

The new agreement will create an investment fund to help rebuild Ukraine and use both countries' resources and skills to support Ukraine’s economic recovery.

According to Svyrydenko, the two countries will co-manage and co-finance the fund, but Ukraine will maintain ownership and complete control over its mineral and energy resources. The agreement does not contain any mention of debt obligations of Ukraine to the US. Its implementation will allow the US and Ukraine to expand their economic cooperation and investment.