The U.S. has advanced a major minerals agreement with Ukraine that could be signed within days, outlining a revenue-sharing model tied to resource extraction. The deal signals a shift in how Washington approaches long-term economic support, with reinvestment plans and strategic resource access at its core. Key details remain under review as Kyiv weighs the final proposal.
The United States has submitted a final draft of a new economic partnership agreement to Ukraine, with a signing expected as early as next week. The deal centers on access to Ukraine’s critical mineral reserves and marks a shift in the financial strategy underpinning U.S. support for the country.
U.S. Treasury Secretary Scott Bessent confirmed the development in an interview on Wednesday, stating that the agreement is under review by Ukrainian officials and that both sides are preparing for final discussions.
“We have passed along a completed document for the economic partnership that is currently being reviewed by Ukrainians, and we hope to go to full discussions and perhaps even get signatures next week,” Bessent told Fox News.
According to officials familiar with earlier drafts, the agreement includes a revenue-sharing arrangement in which Ukraine would contribute 50% of future profits from the extraction of state-owned resources—such as oil, gas, and key logistics infrastructure—into a joint fund. That fund would be reinvested annually into Ukraine’s economy, with a stated focus on security and development.
While the deal does not contain any U.S. security guarantees, it represents a more expansive commitment than the framework agreement discussed earlier this year. President Volodymyr Zelensky described the proposal as a “large, comprehensive agreement” and confirmed it builds on previous negotiations.
The White House has positioned the agreement as a mechanism to align long-term U.S. strategic interests with Ukraine’s post-war recovery, while creating a pathway to recoup part of the financial aid sent to Kyiv since Russia’s full-scale invasion in 2022.
The agreement was initially targeted for signing in February but was delayed following a disagreement between President Donald Trump and Zelensky during meetings in Washington. Both leaders have since expressed support for resuming the process.
Trump said earlier this week that he expects the deal to be signed “soon.” Zelensky confirmed on Tuesday that the U.S. had submitted a revised proposal, which Ukraine is now reviewing.
Although there had been earlier U.S. interest in participating in Ukraine’s energy infrastructure—including ownership of a power plant—those provisions were not included in the current version of the deal. Zelensky noted that while the two sides held discussions about the Russian-occupied Zaporizhzhia Nuclear Power Plant, these talks did not result in any formal commitments.
A U.S. Treasury spokesperson told The Financial Times that “the United States remains committed to the quick conclusion of this vital agreement and to securing a lasting peace for both Ukraine and Russia.”
Ukraine is home to vast mineral reserves, including rare earth elements and other critical raw materials. Ukrainian data shows that the country has deposits of 22 of the 34 minerals identified as critical by the European Union.
Estimates place the total value of Ukraine’s mineral deposits at more than $10 trillion, though much of it remains untapped and not yet classified as commercially viable under international standards.
The deal provides a potential alternative for U.S. supply chains that are currently reliant on China and other unstable jurisdictions for materials essential to defense, electronics, and clean energy technologies.
The agreement is being negotiated alongside broader U.S. efforts to manage its sanctions regime against Russia. On Wednesday, Bessent said that future sanctions would depend on Russia’s actions.
“It will be determined by Russian leadership’s next moves, whether the sanctions go up or down,” he said, adding that President Trump “would not hesitate” to adjust the measures if doing so benefits U.S. negotiating leverage.
The minerals agreement is expected to become a cornerstone of the evolving U.S.-Ukraine relationship, moving beyond military support to focus on long-term economic integration and strategic resource cooperation.