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US and Ukraine sign minerals deal tying Trump to Kyiv
Cape Argus
|May 02, 2025
THE US and Ukraine this week signed a minerals deal after a two-month delay, in what President Donald Trump's administration called a new form of US commitment to Kyiv after the end of military aid.
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Ukraine said it secured key interests after protracted negotiations, including full sovereignty over its own rare earths, which are vital for new technologies and largely untapped.
Trump had initially demanded rights to Ukraine's mineral wealth as compensation for US weapons sent under former president Joe Biden after Russia invaded just over three years ago.
After initial hesitation, Ukraine has accepted a minerals accord as a way to secure long-term investment by the US, as Trump tries to drastically scale back US security commitments around the world.
Announcing the deal in Washington, Treasury Secretary Scott Bessent said it showed “both sides’ commitment to lasting peace and prosperity in Ukraine.”
This story is from the May 02, 2025 edition of Cape Argus.
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