The long-anticipated agreement is expected to establish a 50/50 U.S.-Ukraine joint investment fund aimed at developing Ukraine’s rich deposits of rare earth minerals—materials crucial for the production of electronics, military technologies, and clean energy systems.

During a cabinet meeting, President Donald Trump confirmed the imminent nature of the deal. “We’re ready to sign,” Trump said. “Ukraine made some last-minute changes last night, but we’re hopeful they’ll reconsider, and we’re prepared to finalize this afternoon if they are.”

Treasury Secretary Scott Bessent, who is overseeing the agreement on the U.S. side, clarified that despite reports of amendments, the substance of the agreement remains unchanged. “It’s the same agreement we reached over the weekend. No terms have been removed or replaced,” Bessent stated.

A Deal Rooted in Strategic and Economic Interests

President Trump emphasized that the deal was designed to be mutually beneficial but practical, given Ukraine’s ongoing financial struggles due to the war. “I didn’t want to make a complicated deal,” he said. “Ukraine’s in a very bad period—they don’t have a lot of money. But I didn’t want to walk away with nothing for our efforts. So we said: rare earth.”

He described the deal as a long-term strategic investment. “They have a lot of rare earths. We made a deal where our money is secure, where we can start digging and doing what we have to do. And it’s good for them too—because our presence there will help keep bad actors away.”

The agreement is expected to include American personnel on-site in Ukraine, which officials say will help ensure stability in mining regions and secure U.S. interests in the extraction and export of critical minerals.

Ukrainian Government Signals Strong Support

On Ukrainian national television, Prime Minister Denys Shmyhal also expressed optimism about the impending agreement. “We are finalizing details with our U.S. colleagues. It is a real strategic deal creating a joint investment fund. It’s an equal international partnership for the development and restoration of Ukraine,” he said, adding that the signing could take place within 24 hours.

Expert Perspective: A Diplomatic and Economic Milestone

Dr. Duncan Wood, president of Hurst International Consulting and a leading authority on critical minerals and energy geopolitics, called the agreement a “major announcement” for both nations.

“This is not just an economic deal—it’s a diplomatic victory for both sides,” Wood explained. “For Ukraine, especially President Zelensky, it follows a difficult period in U.S. relations and comes shortly after his meeting with President Trump at the Vatican. For Trump, facing low approval ratings and nearing the end of his first 100 days, it’s a meaningful foreign policy win.”

Wood added that the deal signals a clear shift in U.S. engagement. “For the first time, Trump has issued open criticism of Russia’s aggression, and now he’s proposing a physical U.S. presence in Ukraine. That changes the geopolitical equation.”

Implications for Russia and China

The announcement is likely to provoke strong reactions from Moscow and Beijing.

“Moscow will see this as a deepening U.S.-Ukraine alliance—reviving ties that had appeared to weaken after the Biden administration,” said Wood. “The presence of American personnel in Ukraine is particularly significant.”

As for China, the deal reflects Washington’s broader efforts to reduce dependence on Chinese-controlled mineral processing. “Even though the rare earths may be mined in Ukraine, most global processing still occurs in China. So while the deal diversifies sources, the processing bottleneck remains.”

Next Steps

If finalized, the agreement would mark a pivotal moment in U.S.-Ukraine relations and an assertive step in the global race for critical minerals. Both governments remain optimistic, with formal signing expected as soon as technical details are resolved.