US, Ukraine sign minerals deal after Kiev agrees to pay for war support

The U.S. and Ukraine on Wednesday signed off on a deal that will give Washington access to Ukraine’s vast critical minerals and natural resources, finalizing an agreement weeks in the making to compensate the U.S. for its help in repelling Russia’s invasion.

The two sides offered only barebone details about the structure of the deal, which they called the United States-Ukraine Reinvestment Fund. But it is expected to give the U.S. access to Ukraine’s valuable rare earth minerals while providing Kyiv a measure of assurance about continued American support in its grinding war with Russia.

The announcement comes at a critical moment in the three-year war as Trump has grown increasingly frustrated with both sides. The signing comes two months after a different but similar agreement was nearly signed before being derailed in a tense Oval Office meeting involving President Donald Trump, Vice President JD Vance and Ukranian President Volodymyr Zelenskyy.

Earlier Wednesday, Bessent said during a Cabinet meeting at the White House — hours after Ukrainian officials indicated a deal was nearly finalized — that there was still work to do.

“The Ukrainians decided last night to make some last-minute changes,” Bessent said when asked about reports that Ukraine was ready to agree to the pact. “We’re sure that they will reconsider that. And we are ready to sign this afternoon if they are.”

He didn’t elaborate as to the late changes he said Ukraine made.

The U.S. has been seeking access to more than 20 raw materials deemed strategically critical to its interests, including some non-minerals such as oil and natural gas.

The negotiations come amid rocky progress in Washington’s push to stop the war.