US and Ukraine forge strategic minerals and investment pact
The US and Ukraine have signed an economic cooperation agreement. "We made a deal today where we get, you know, much more in theory, than the $350 billion (€310 billion)," commented US President Donald Trump.
What do you need to know?
- What was signed? The US and Ukraine have entered into an economic cooperation agreement that provides the US access to Ukrainian rare earth minerals in exchange for establishing an investment fund in Ukraine.
- "We made a deal today where we get, you know, much more in theory, than the $350 billion (€310 billion)," commented US President Donald Trump.
- Why is it important? The agreement aims to fortify Ukraine's economy and ensure the US has access to essential raw materials.
What are the details of the mineral agreement?
The US and Ukraine have formalised an agreement to bolster economic cooperation between the two countries. This arrangement guarantees the US access to Ukraine's rare earth minerals, integral to numerous modern technologies. In exchange, the US has pledged to establish an investment fund in Ukraine, designed to foster the country's economic growth.
"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," said US Treasury Secretary Scott Bessent.
Trump comments on the signing of the agreement
President Donald Trump remarked on the signing of the agreement, stating that the US signed it because "they wanted to be protected." He also noted that the agreement could affect Russian President Vladimir Putin, though he did not detail how.
"We made a deal today where we get, you know, much more in theory, than the $350 billion (€310 billion), but I wanted to be protected," said Donald Trump in a conversation with NewsNation. "I didn’t want to be out there and look foolish," he added.
