After months of negotiation, delays, and political turbulence, the long-debated U.S.-Ukraine “Minerals Deal” appears on the verge of being finalized. A breakthrough was confirmed earlier this week, as both nations prepare to sign a binding agreement that could reshape the landscape of global critical mineral supply—and reframe Ukraine’s economic recovery under U.S. influence.
Memorandum Signed, Full Agreement Coming
Ukrainian Deputy Prime Minister and Economy Minister Yulia Svyrydenko was the first to reveal progress in the negotiations, announcing the signing of a Memorandum of Intent with U.S. Commerce Secretary Scott Bessent. The memo, viewed as a precursor to a full Economic Partnership Agreement, outlines a joint vision for mineral development and the eventual creation of a U.S.-backed Investment Fund for Ukraine’s reconstruction.
“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,” Svyrydenko wrote on X.
Shortly afterward, President Donald J. Trump confirmed that the formal signing of the full minerals agreement is scheduled for next Thursday.
“We have a minerals deal,” Trump declared during a press conference alongside Italian Prime Minister Giorgia Meloni in the Oval Office.
A Rocky Road to Agreement
The path to this moment has been anything but smooth. Sources familiar with the talks described multiple breakdowns in communication, including a high-profile diplomatic blunder that occurred during a prior White House visit by Ukrainian President Volodymyr Zelensky.
Zelensky, after reportedly reneging on a previously negotiated draft agreement, clashed publicly with both Trump and Vice President JD Vance. According to administration sources, the Ukrainian delegation was abruptly asked to leave the White House following the heated exchange, delaying the signing indefinitely.
Trump later addressed the incident publicly:
“I’m not a big fan of Mr. Zelensky,” he stated. “I’m not blaming him [for the war], but I wouldn’t say he’s done the greatest job. I’m not happy with him, and I’m not happy with anybody involved.”
Despite the tensions, Trump emphasized the importance of securing U.S. access to Ukrainian mineral reserves, noting that the deal represents a form of repayment for the billions in military aid sent under the Biden administration.
What the Deal Includes
Though the final text is still being finalized, U.S. Treasury Secretary Scott Bessent indicated that the substance of the agreement remains largely unchanged from earlier drafts.
“I think it’s an 80-page agreement and that’s what will be signed,” Bessent said.
The deal is expected to grant American companies exclusive or preferential access to Ukraine’s vast natural resources, particularly in rare earths and other critical minerals needed for defense, energy, and technology applications. These resources are considered vital to U.S. strategic autonomy amid intensifying global competition with China.
Geopolitical Implications
This agreement could signal a major realignment in U.S.-Ukraine relations. With American influence expanding into Ukraine’s resource sector, the Biden-era narrative of humanitarian aid and mutual democracy is giving way to Trump’s doctrine of transactional realism: economic leverage in exchange for past support.
If the deal is signed next week as scheduled, it will mark a significant geopolitical milestone—not just for U.S.-Ukraine ties, but for global resource politics.
Conclusion
After months of stalled diplomacy, the U.S.-Ukraine minerals deal is back on track. While the relationship between President Trump and President Zelensky remains strained, the underlying economic and strategic interests appear strong enough to move the agreement forward. As the world watches, the signing of this landmark agreement could redefine not only the reconstruction of Ukraine, but also the next phase of U.S. global economic influence.