Ukraine and US sign much-awaited minerals deal: As it happened

The two countries have agreed to establish a joint “reconstruction” investment fund.

Ukraine and the US signed an agreement on Wednesday that will direct a portion of the revenues from the development of Ukraine’s natural resources into a joint investment fund.

Kiev hopes the deal will incentivize US President Donald Trump to maintain military and financial aid to Ukraine amid the conflict with Russia. The US has been attempting to broker a ceasefire since February, as Ukrainian leader Vladimir Zelensky and other top officials in Kiev have accused the Trump administration of promoting “pro-Russian” narratives.

The two sides initially planned to sign the agreement in February, but the deal fell through at the last minute after a meeting between Trump and Zelensky devolved into a heated argument. According to reports, US officials originally pushed for 50% American ownership of Ukraine’s rare-earth minerals – which Zelensky rejected at the time.

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