US and Ukraine sign minerals deal that solidifies investment in Kyiv’s defense against Russia

The announcement on Wednesday finalises an agreement weeks in the making to compensate the US for its help in repelling Russia’s invasion

Volodymyr Zelenskyy, right, and Donald Trump talk as they attend the funeral of Pope Francis last week. 

The US and Kyiv have signed an agreement to share profits and royalties from the future sale of Ukrainian minerals and rare earths, sealing a deal that Donald Trump has said will provide an economic incentive for the US to continue to invest in Ukraine’s defense and its reconstruction after he brokers a peace deal with Russia.

The minerals deal, which has been the subject of tense negotiations for months and nearly fell through hours before it was signed, will establish a US-Ukraine Reconstruction Investment Fund that the Trump administration has said will begin to repay an estimated $175bn in aid provided to Ukraine since the beginning of the war.