Trump and Zelensky Sign Rare Earth Minerals Deal, Ratified by Ukrainian Parliament, to Aid Post-War Reconstruction

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Updated May 8, 2025, 04:25 PM

U.S. President Donald Trump and Ukrainian President Volodymyr Zelensky have signed an agreement aimed at the joint exploitation of Ukraine's rare earth minerals. The deal, ratified by 338 out of 400 Ukrainian MPs, is part of the American-Ukrainian Reconstruction Investment Fund. This fund is designed to contribute to Ukraine's reconstruction efforts following three years of war with Russia, with the U.S. contributing billions of dollars in military aid. The agreement grants the U.S. access to Ukraine's vast mineral resources, crucial for modern technology manufacturing. This move is seen as a strategic effort by the U.S. to secure these minerals, reducing its dependency on imports and countering Russian aggression, which threatens global stability. Trump has emphasized the importance of this deal for U.S. security and economic interests, noting that it will help the country divest from Communist China. Trump has also mentioned plans to speak with Zelensky soon, indicating ongoing discussions regarding the implementation of the agreement. The deal has been controversial, with opposition from figures like billionaire adviser Elon Musk and Vice President JD Vance, who have promoted Russian narratives about the conflict. Ukraine hopes this agreement will usher in a new era of relations with the U.S., despite the secrecy surrounding two technical deals that are yet to be signed. These commercial pacts, involving the U.S. International Development Finance Corporation and Ukraine's Public-Private Partnership Agency, were mentioned by Deputy Prime Minister Yulia Svyrydenko. Amendments to the deal, pushed by the opposition European Solidarity faction led by MP Iryna Gerashchenko, ensure the agreement covers all Ukrainian territory, including occupied areas. U.S. Charge d'Affairs Julie S. Davis has stressed that Trump envisions the partnership showing both sides' commitment to lasting peace and prosperity in Ukraine. Despite initial demands for security guarantees and new aid, the U.S. agreed to no debt for Kyiv, new weapons sales, and a 50/50 equity partnership with capital from the DFC. U.S. Treasury Secretary Scott Bessent, speaking at the Milken Institute, described the deal as a win-win, not a loan-to-own scenario, following a notable Oval Office blowup between Trump and Zelensky.

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