Ukraine and the United States have signed a memorandum of intent to advance cooperation on mineral resource development, paving the way for a broader Economic Partnership Agreement. The deal, strongly backed by U.S. President Donald Trump, aims to secure American access to Ukraine’s critical minerals, which are essential for defense and technology industries.
Ukraine’s First Deputy Prime Minister and Economy Minister, Yulia Svyrydenko, announced the signing on social media, calling it a foundational step towards launching an Investment Fund for Ukraine’s reconstruction. The memorandum was signed following a Ukrainian delegation’s visit to Washington last week, during which discussions accelerated under a new U.S. proposal.
President Trump told reporters the mineral deal might be formally signed as early as next week, highlighting it as a form of return on past U.S. military aid to Ukraine. While the memorandum outlines mutual intentions, a finalized agreement would require ratification by Ukraine’s parliament.
U.S. Treasury Secretary Scott Bessent, present with Trump during the announcement, said the upcoming agreement spans 80 pages and reflects previously discussed terms. He noted both sides had moved directly from a basic memorandum of understanding to a more comprehensive arrangement.
Ukrainian President Volodymyr Zelenskiy confirmed the memorandum could be signed digitally, describing the document as a positive step backed by constructive intentions. According to Svyrydenko, significant progress has been made, and the memorandum serves to formalize that advancement.
This move signals deeper U.S.-Ukraine economic ties and growing Western interest in Ukraine’s vast natural resources, especially rare earth and critical minerals vital to global supply chains. The final agreement is expected to strengthen both economic and geopolitical partnerships between Kyiv and Washington.