Ukraine and the United States have signed a deal heavily promoted by US President Donald Trump, which will give the US preferential access to Ukrainian minerals and fund investment in the country’s reconstruction, days after Trump met Ukrainian President Volodymyr Zelensky at the Pope’s funeral.
The two countries signed the accord late on Wednesday, Washington time, after months of sometimes fraught negotiations. Uncertainty persisted until the last moment, with word of an eleventh-hour snag.
Ukrainian President Volodymyr Zelensky, US President Donald Trump and Russia’s Vladimir Putin.Credit: Marija Ercegovac
The accord establishes a joint investment fund for Ukraine’s reconstruction as Trump tries to secure a peace settlement in Russia’s three-year-old war in Ukraine. It is central to Kyiv’s efforts to mend ties with Trump, which frayed after he took office in January.
A fiery meeting between Trump and Zelensky at the Oval Office on February 28 ended with Zelensky leaving the White House early and prompted the US to temporarily suspend military aid and intelligence sharing with Ukraine. They also did not sign the minerals deal, as anticipated.
The two leaders met again in St Peter’s Basilica on Saturday, without aides, minutes before the funeral of Pope Francis. Zelensky later said the meeting had the potential to be historic, while the White House said it was productive.
US Treasury Secretary Scott Bessent and Ukrainian First Deputy Prime Minister Yulia Svyrydenko were shown signing the agreement on Wednesday in a photo posted on X by the Treasury.
Treasury Secretary Scott Bessent and First Deputy Prime Minister Yulia Svyrydenko sign the agreement to establish the United States-Ukraine Reconstruction Investment Fund. Credit: Credit: X/US Treasury
“This agreement signals clearly to Russia that the Trump administration is committed to a peace process centred on a free, sovereign, and prosperous Ukraine over the long term,” Bessent said in a statement, reported by The New York Times.
“President Trump envisioned this partnership between the American people and the Ukrainian people to show both sides’ commitment to lasting peace and prosperity in Ukraine.
