Ukraine and US sign much-awaited minerals deal: Live updates

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

Ukraine and the United States 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 amid its ongoing 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 collapsed at the last minute after a meeting between Trump and Zelensky devolved into a heated argument. According to reports, US officials had originally pushed for a 50% American ownership of Ukraine’s rare-earth minerals – an offer Zelensky rejected at the time.