The United States and Ukraine have signed a landmark agreement to establish a joint "reconstruction investment" fund aimed at accelerating Ukraine's economic recovery following Russia’s full-scale invasion in 2023. The announcement was made Wednesday in Washington by officials from both governments.

While the full terms of the agreement have not yet been made public, it is believed the deal grants the U.S. significant economic advantages, including privileged access to Ukraine’s critical mineral resources, which are vital for high-tech industries.

Ukrainian Deputy Prime Minister and Economy Minister Yulia Svyrydenko, who signed the agreement on behalf of Ukraine, stressed that the country would maintain full ownership and control of its natural resources. "It is the Ukrainian state that determines what and where to extract," she stated on X (formerly Twitter), adding that the fund would be managed jointly without either side holding a dominant vote—signaling a commitment to equal partnership.

U.S. Treasury Secretary Scott Bessent described the agreement as a signal of Washington’s enduring support for Ukraine and its sovereignty. “This agreement signals clearly to Russia that the Trump Administration is committed to a peace process centered on a free, sovereign, and prosperous Ukraine over the long term,” Bessent said. The Treasury Department noted that the partnership would combine both countries’ capabilities to rebuild Ukraine’s economy and infrastructure.

President Donald Trump, who returned to office in January 2025, has sought to bring an end to the war while also insisting that Ukraine provide fair compensation for the extensive U.S. military and financial aid it has received. Speaking on NewsNation Wednesday evening, Trump said the deal, "in theory," ensures that the U.S. will receive more from Ukraine than it contributed. "I wanted to be protected," he said. "I didn't want to look foolish."

The agreement must still be ratified by the Ukrainian parliament before it can take effect. Talks leading up to the deal had nearly collapsed in February after a reportedly heated exchange between President Trump and Ukrainian President Volodymyr Zelenskyy at the White House.

Despite tensions, Bessent said the agreement reflects Trump’s vision of a lasting peace in Ukraine. “No state or person who financed or supplied the Russian war machine will be allowed to benefit from the reconstruction of Ukraine,” he affirmed.

The fund is expected to play a major role in rebuilding Ukraine's war-torn infrastructure and reviving its economy, with investments from both public and private sectors.