The United States and Ukraine have officially entered into an agreement aimed at funding the rebuilding of Ukraine, which has been severely affected by ongoing conflict. This new deal comes two months after an earlier arrangement was stalled due to disagreements between US President Donald Trump and Ukrainian President Volodymyr Zelenskyy during a meeting at the White House.
In recent weeks, discussions centered on a cooperative effort that would grant the US access to Ukraine’s valuable mineral deposits as part of the reconstruction initiative. President Trump had previously suggested that such a deal would allow Ukraine to repay the US for the military aid it has received since the onset of Russia's invasion in 2022. However, the details of the current agreement—especially any similarities to the proposed deal from earlier—remain unclear.
The agreement will create a reconstruction fund that will be managed collaboratively by both nations, with financial inflows anticipated from projects related to minerals, oil, and gas in Ukraine. Notably, the deal does not impose any debt obligations on Ukraine towards the US, as clarified by Ukrainian Deputy Prime Minister Yulia Svyrydenko. She emphasized that Ukraine would maintain full authority over its resources, stating that the Ukrainian government will dictate extraction decisions.
Svyrydenko further pointed out that this partnership would enhance the economic prospects of both the US and Ukraine through mutual investment and cooperation. Despite the tens of billions of dollars in aid provided by the US since the conflict began, the relationship has faced challenges, particularly after Trump came into office. The former president has made controversial remarks regarding Zelenskyy while also suggesting a quick resolution to the war.
In March, after a phone conversation with Russian President Vladimir Putin, Trump proposed a ceasefire that was promptly rejected, indicating ongoing tensions in the geopolitical landscape. Following the recent agreement’s signing, US Treasury Secretary Scott Bessent expressed that it reflects the Trump administration's enduring commitment to supporting a sovereign and prosperous Ukraine. He assured that no entities aiding the Russian military would benefit from Ukraine’s reconstruction efforts.
Earlier in the day of the deal's signing, Bessent noted readiness from the US side but mentioned that Ukraine sought some final adjustments. He expressed confidence that Ukraine would reassess their requests in light of the broader objectives of the agreement.
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