Kristina Roberts
Ukraine has taken the first step toward a major partnership with the United States by signing an initial agreement to develop its valuable minerals. While the full details are still being worked out, this early deal shows both countries are serious about working together. The agreement could help Ukraine rebuild its economy while giving the US access to important resources.
The deal was announced on Thursday by Ukraine’s Minister of Economic Development and Trade, Yulia Svyrydenko. She shared that the two nations signed a “Memorandum of Intent,” which is like a promise to work toward a bigger agreement later. Svyrydenko posted on social media, saying, “We are happy to announce the signing, with our American partners, of a Memorandum of Intent, which paves the way for an Economic Partnership Agreement and the establishment of the Investment Fund for the Reconstruction of Ukraine.” She added that while there is still much to do, the progress so far looks promising for both sides.
This early agreement sets the stage for a larger deal that could see the US and Ukraine jointly developing Ukraine’s natural resources, including rare earth minerals, oil, and gas. These materials are crucial for making things like smartphones, electric cars, and military equipment. The partnership could also lead to the creation of a special fund to help rebuild Ukraine after the damage caused by the war with Russia.
US leaders also confirmed the development. President Donald Trump mentioned at a press conference that a bigger deal is expected soon. “Well, we have a minerals deal, which I guess is going to be signed on Thursday — next Thursday [April 24]? Soon. And I assume they’re [Ukraine] going to live up to the deal, so we’ll see. But we have a deal on that,” Trump said. Treasury Secretary Scott Bessent added that they are still finalizing the details but hope to have everything ready by around April 26. He described the upcoming agreement as a major document, likely around 80 pages long.
For Ukraine, this deal could be a game-changer. The country has large deposits of rare minerals, but it needs investment and technology to extract and process them. If the partnership succeeds, it could bring jobs, money, and stability to Ukraine as it recovers from war. For the US, the deal is about securing access to critical resources. Right now, China controls much of the world’s supply of rare earth minerals, and this agreement could help reduce America’s reliance on other countries.
Ukrainian President Volodymyr Zelenskyy also commented on the deal, calling it a positive step. “This is a memorandum of intent. And we have positive, constructive intentions,” he told reporters. He mentioned that the idea of signing this preliminary agreement came from the US side, showing strong interest in moving forward.
The next big step will be signing the full agreement, which is expected in the coming days. After that, Ukraine’s parliament will need to approve it before it becomes official. If everything goes smoothly, this partnership could bring long-term benefits for both nations—helping Ukraine rebuild and giving the US a reliable source of essential minerals.
The deal reflects President Trump’s earlier statements that Ukraine should share its resources as a way to balance the support it has received from the US during the war. Now, with this agreement moving forward, both countries are one step closer to a partnership that could shape their economic futures. The world will be watching to see how this collaboration develops in the weeks and months ahead.
