The United States and Ukraine have signed a sweeping new economic agreement granting Washington preferential access to some of Ukraine’s untapped natural resources, in exchange for long-term military and financial support.
The deal happening after weeks of tense bargaining was finalised on Wednesday in Washington, D.C. – the United States as Ukraine seks to solidify American commitment it’s ongoing efforts to repel the Russian invasion, now entering its fourth year.
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Signed by U.S. Treasury Secretary Scott Bessent and Ukraine’s Vice Prime Minister Yulia Svyrydenko, the agreement provides the U.S. with preferential rights to new Ukrainian licenses for mineral extraction, including critical materials, oil, and gas. In return, the U.S. pledges continued military aid and investment to help rebuild Ukraine’s infrastructure and defence systems.
In a statement following the signing, Bessent called the partnership “historic,” emphasising that it signals resolute U.S. support for Ukraine and sends a message to Moscow that Washington is committed to peace and stability in the region.
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While precise details remain under wraps, Ukrainian officials say the agreement allows Ukraine to retain full ownership and control of its resources. All extraction and licensing decisions will be made by Kyiv, with the U.S. participating through joint management of the fund.
Importantly, Ukraine’s Ministry of Economy confirmed that the U.S. contribution to the fund—either directly or through new military aid—will be matched by Ukraine, which has pledged 50% of future revenues from newly licensed resource exploitation. Svyrydenko suggested that incoming aid may include air defense systems, a pressing need amid ongoing Russian missile and drone strikes.
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Prime Minister Denys Shmyhal praised the deal as “good, equal, and beneficial for both sides,” highlighting that Ukraine has no obligation to repay previous U.S. military aid—an important win following contentious negotiations. US President Donald Trump, who has championed the agreement, previously insisted that Ukraine repay the $350 billion he claims was spent on supporting its defense, though official Pentagon figures put the total closer to $182.8 billion between 2022 and 2024.
The agreement notably stops short of offering Ukraine U.S. security guarantees—something President Volodymyr Zelenskyy has called essential before entering any peace talks with Russia. Still, analysts view the renewed military assistance framework as a potential step toward broader strategic commitments.
“This isn’t a security guarantee,” said Anatol Lieven, director of the Eurasia Program at the Quincy Institute, who spoke to Al Jazeera “but it’s a signal that military assistance is back on the table in a serious way.”
Although the Ukrainian Cabinet has approved the agreement, it still requires ratification by the country’s parliament before implementation can begin.
