The Memorandum is the first concrete move toward a broader strategic partnership in the sector
Ukraine and the United States (U.S.) have signed a Memorandum to jointly develop Ukraine’s mineral resources, marking the first concrete move toward a broader strategic partnership in the sector.
The Memorandum follows months of behind-the-scenes diplomacy and comes amid Ukraine’s continued efforts to attract foreign investment for reconstruction and resilience amid its ongoing war with Russia.
The deal was set to be signed in February’25 but was delayed after a tense Oval Office meeting between the President of the U.S. – Donald Trump and the President of Ukraine – Volodymyr Zelenskyy, reportedly devolved into a heated exchange.
Taking it to X, the First Deputy Prime Minister and Economy Minister, Ukraine – Yulia Svyrydenko tweeted,
We are happy to announce the signing, with our American partners, of a Memorandum of Intent, which paves the way for an Economic Partnership Agreement and the establishment of the Investment Fund for the Reconstruction of Ukraine. pic.twitter.com/AQsHPkWh5X
— Yulia Svyrydenko (@Svyrydenko_Y) April 17, 2025
She further tweeted,
This document is the result of the professional work of the negotiating teams, which recently completed another round of technical discussions in Washington.
— Yulia Svyrydenko (@Svyrydenko_Y) April 17, 2025
Ahead is the finalization of the text of the Agreement and its signing—and then, ratification by parliaments.
Officials in Kyiv have underscored the importance of U.S. economic support, particularly in the face of ongoing military aggression from Russia. The Memorandum represents both an economic lifeline and a political signal of sustained American engagement in Ukraine’s future.
The Ukrainian delegation had travelled to Washington last week to finalise the framework, responding to a more expansive offer from the U.S. that had been under negotiation since late last year. The U.S. has revised its original proposal, said the sources, and it gives Ukraine no future security guarantees but requires it to contribute to a joint investment fund all income from the use of natural resources managed by state and private enterprises across Ukrainian territory. The proposal makes no mention of the U.S. taking ownership of Ukraine’s nuclear power plants. An earlier version of the deal proposed a joint investment fund where Ukraine would contribute 50% of the proceeds from the future profits of the extraction of the state-owned natural resources. It also set out terms that the U.S. and Ukraine would jointly develop Ukraine’s mineral resources.
With strategic minerals essential to global industries such as defence, electronics, and renewable energy, Ukraine’s resource base is increasingly seen as vital to Western interests. The new agreement could reshape the landscape of transatlantic economic cooperation—anchored in mutual benefit and shared geopolitical objectives.
Trump had pushed for a deal that would give the U.S. privileged access to Ukraine’s natural resources and critical minerals, which he interpreted as repayment for military aid provided by the Former President of the U.S. – Joe Biden.
