War in Ukraine: what to know about the deal signed between Kyiv and Washington
On April 30, 2025, Ukraine and the United States finalized an agreement on the exploitation of Ukraine’s natural resources—minerals, gas, and oil. According to Washington, the deal is intended to offset the significant financial and military aid the U.S. has provided Kyiv since Russia’s full-scale invasion in February 2022.
L’ancien président Donald Trump et le président ukrainien Volodymyr Zelensky. Getty Images
The agreement was sealed just days after President Donald Trump and President Volodymyr Zelensky met during Pope Francis’s funeral on April 26. That encounter paved the way for a breakthrough after months of stalled negotiations due to major disagreements.
During Zelensky’s visit to the White House on February 28, tensions had erupted publicly, leading to the cancellation of an earlier version of the deal. At the time, the Ukrainian president rejected the draft, arguing it would burden future generations with unsustainable debt.
Following further talks and a revised proposal from Washington, Kyiv has now signed on. Ukrainian Prime Minister Denys Shmyhal welcomed the outcome as “a fair and balanced international agreement” and praised both governments for their commitment.
From the American side, Treasury Secretary Scott Bessent emphasized the opportunity for the U.S. to support Ukraine’s reconstruction while receiving a form of compensation for its extensive support.
No security provisions in the agreement
The deal establishes a jointly managed investment fund dedicated to financing Ukraine’s reconstruction. Under its terms, U.S. companies will gain access to resource extraction projects, while Kyiv retains full ownership and control of its natural assets.
Ukrainian Economy Minister Yuliia Svyrydenko noted that this mechanism will allow for the launch of extraction projects without placing Ukraine in debt for the military and economic aid it has received since 2022. Profits generated through the fund will be reinvested into Ukraine’s domestic economy.