“This issue is not a question about the next two months or the next two years. This issue is about the next two decades,” Gomart said.
The signing comes during what U.S. Secretary of State Marco Rubio said would befor U.S.-led efforts to end the war that appear to have stalled. Ukraine sees the deal as a way to ensure that its biggest and most consequential ally stays engaged and doesn’t freeze military support, which has been key in its 3-year-old fight against
“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,” Treasury Secretary Scott Bessent, who signed for the U.S., said in a statement.Here is a look at the deal.The deal covers minerals, including rare earth elements, but also other valuable resources, including oil and natural gas, according to the text released by Ukraine’s government.
It does not include resources that are already a source of revenue for the Ukrainian state. In other words, any profits under the deal are dependent on the success of new investments. Ukrainian officials have also noted that it does not refer to any debt obligations for Kyiv, meaning profits from the fund will likely not go toward paying the U.S. back for its previous support.Officials have also emphasized that the agreement ensures full ownership of the resources remains with Ukraine, and the state will determine what can be extracted and where.
It does not mention any explicit security guarantees to deter future Russian aggression that Ukraine has long insisted on.
The text of the deal lists 55 minerals but says more can be agreed to.amid peace efforts in recent months by the Trump administration and Western European leaders. It also raised the prospect of intensified international sanctions on Russia that have been threatened by the West.
Russian presidential aide, Vladimir Medinsky, gives an statement to journalists at the Russian consulate in Istanbul, Turkey, Thursday, May 15, 2025. (AP Photo/Francisco Seco)Russian presidential aide, Vladimir Medinsky, gives an statement to journalists at the Russian consulate in Istanbul, Turkey, Thursday, May 15, 2025. (AP Photo/Francisco Seco)
AP correspondent Karen Chammas reports on peace talks between Ukraine and Russia in Turkey.Zelenskyy, who flew Thursday to Ankara after challenging Putin to sit down with him, accused Moscow of not making a serious effort to end the war by sending a low-level negotiating team that he described as “a theater prop.”