Ukraine has expressed readiness to sign an agreement granting the United States access to its rare and valuable minerals, in hopes of securing continued American support in its prolonged war against Russia, top Ukrainian officials said Wednesday.
Deputy Prime Minister and Minister of Economy Yulia Svyrydenko traveled to Washington to help finalize the deal, according to Ukrainian Prime Minister Denys Shmyhal, who spoke on national television.
Although most terms of the agreement have been agreed upon, a senior Ukrainian official—speaking on condition of anonymity—stated that a few hurdles remain, according to the Associated Press.
For Ukraine, the deal is viewed as crucial for ensuring future U.S. military aid.
“This is a strategic agreement to establish a joint investment fund,” said Shmyhal. “It’s an equal international partnership aimed at co-investment in Ukraine’s development and reconstruction.”
In February, U.S. President Donald Trump expressed interest in gaining access to Ukraine’s rare minerals as a condition for continued support, calling it a form of reimbursement for the billions in U.S. aid already provided. However, talks stalled after a tense Oval Office meeting, straining U.S.-Ukraine relations.
U.S. Treasury Secretary Scott Bessent confirmed Wednesday that the Trump administration is ready to sign the deal, though noted that Ukraine had made last-minute changes.
“They made some changes last night. We’re confident they’ll reconsider, and we’re ready to sign this afternoon if they are,” said Bessent, without specifying the revisions.
The U.S. seeks access to over 20 critical materials, including non-minerals like oil and natural gas. Key Ukrainian assets include titanium—used in aircraft construction—uranium, and minerals essential for electric vehicle batteries like lithium, graphite, and manganese.
Initially, Kyiv viewed the draft agreement as too one-sided in favor of the U.S., prompting the introduction of new clauses for balance.
According to Shmyhal, the current draft ensures a 10-year equal partnership. U.S. financial contributions would be in cash, and only new military aid would count toward the U.S. share in the investment fund. Past assistance would not be factored in. Importantly, the agreement would not conflict with Ukraine’s path toward EU membership—a key Ukrainian demand.
The Ukrainian cabinet is expected to approve the agreement before it can be signed in Washington. Final ratification will require a vote in Ukraine’s Parliament.
