by Sebastien GOULARD
On April 30, 2025, the United States and Ukraine signed an agreement concerning the exploitation of Ukraine’s mineral resources and American support for its reconstruction. This agreement, the result of lengthy negotiations between both parties, is expected to ensure continued U.S. backing for Ukraine. For Washington, it serves to prevent falling behind other powers in the global race for raw materials.
U.S.-Ukraine Relations
Since Donald Trump’s election, relations between Washington and Kyiv have cooled. Having failed to end the conflict in Ukraine within 24 hours as promised during his campaign, and unable to sway the Russian President, Trump appears increasingly frustrated. The highly publicized confrontation on March 1, 2025, between Donald Trump, JD Vance, and Volodymyr Zelensky in the Oval Office reflected this tension.
For Trump, it is essential that America does not “lose money” in supporting Ukraine, in line with the “America First” doctrine. Since the beginning of the war, the United States has provided $114 billion in aid to Ukraine. However, Trump now seeks to tie continued American assistance to the exploitation of Ukrainian natural resources, with the intention of “recouping” the aid provided.
Despite these political messages and potential hesitations within the Trump administration, U.S. support—particularly in intelligence—remains crucial on the ground and has thus far enabled Ukraine to resist as much as possible. This is why Kyiv has consistently sought to negotiate with the United States. Even though he is not in a position of strength, President Zelensky has maintained a consistent approach, combining realism with a firm commitment to national sovereignty.
The U.S.-Ukraine Agreement on Mineral Resources
The agreement signed last April was initiated by President Zelensky in September 2024 and took months to negotiate. In order to secure continued Western—and especially American—engagement in Ukraine’s war effort, it was necessary to involve Washington in the development of the country’s mineral wealth. Zelensky’s strategy was to encourage the establishment of American companies in Eastern Ukraine to deter further Russian advances: Kyiv believes Moscow would be reluctant to directly target U.S. interests on Ukrainian soil.
Indeed, Ukraine is rich in natural resources, including strategic minerals such as graphite, titanium, lithium, and certain rare earth elements. These are essential for high-tech industries and the energy transition. Ukraine also holds Europe’s largest uranium reserves—about 2% of global supply. The agreement is therefore expected to reduce U.S. dependence on China for access to strategic resources—one of the primary objectives of the Trump administration’s foreign policy. To sustain American commitment, Ukraine must demonstrate that it is indispensable to the strategic autonomy of Western countries.
Ratified unanimously by Ukrainian lawmakers in early May, the agreement establishes a new economic partnership between the two countries. It includes the creation of an investment fund for Ukraine’s reconstruction. Initially, the U.S. wanted the agreement to include a clause for Ukraine to repay the aid received from Washington, but this provision was ultimately excluded from the final version. The agreement is fair and balanced. The specified resources (gas and oil) remain the property of Ukraine, but the United States is granted priority access for their exploitation. The agreement clarifies that this clause does not conflict with Ukraine’s commitment to aligning with European Union regulations.
Symbolically, the treaty refers to a “free, sovereign, and secure” Ukraine and reinforces the United States’ commitment to Kyiv.
Objectives of the Agreement
As the U.S. President stated, this agreement allows the United States to potentially gain more than it has spent on Ukraine—an approach fully supported by the Ukrainians, who aim to convince the U.S. that Kyiv’s victory will bring significant benefits to America. This agreement complements a similar one signed between Ukraine and the European Union in 2021 regarding the country’s natural resources. Through such partnerships, Ukraine hopes to strengthen its ties with Western powers and secure additional military support, particularly in air defense systems. If accompanied by security guarantees—an element Kyiv hopes to advance—these partnerships should also reassure potential investors.
Ukraine is engaged in a protracted war with Russia. Alongside military victories, the country must maintain its economic activities. Resistance is costly, and economic support is urgently needed. In 2024, foreign investment in Ukraine amounted to $3.3 billion—a drop of over 25% in one year. The agreement with the United States is expected to spark new momentum and help modernize Ukraine’s economic infrastructure despite the wartime context.
Rebuilding Ukraine will not be easy, but with this agreement, President Zelensky has succeeded in securing the support of the United States.
Slava Ukraini ! Слава Україні !
Author: Dr. Sebastien Goulard is the founder and editor-in-chief of Global Connectivities.
