Ukraine and the United States finalised a groundbreaking framework for an economic deal, hailed as a pivotal step toward deepening bilateral ties amid ongoing regional tensions. Announced in Kyiv, the agreement focuses on joint investment and development, particularly in Ukraine’s vast reserves of rare earth minerals, oil, and gas, signaling a strategic pivot to bolster Ukraine’s economy while securing valuable resources for the U.S., say news reports.
Three senior Ukrainian officials, speaking anonymously due to the sensitivity of the negotiations, confirmed that the deal emerged from intense talks led by retired Lt. Gen. Keith Kellogg, President Donald Trump’s special envoy to Ukraine and Russia, during a three-day visit to Ukraine last week. The framework establishes a joint fund, co-owned by both nations, where Ukraine will contribute 50 per cent of future proceeds from its state-owned resources. In return, the U.S. has pledged significant investment, with one official noting that Kyiv secured "favorable terms" after months of tough negotiations.
The deal’s roots trace back to a proposal by Ukrainian President Volodymyr Zelenskyy last fall, aimed at strengthening Ukraine’s leverage in potential peace talks with Russia. While it stops short of explicit security guarantees, a sticking point in earlier discussions, it lays the groundwork for a possible meeting between Zelenskyy and Trump in Washington, with plans reportedly in motion for as early as this Friday, February 28. "This is a win for both sides," one official said, emphasising Kyiv’s hope that the pact will ensure continued U.S. military support, critical as Ukraine fends off Russian aggression.
In Washington, the Trump administration framed the agreement as a cornerstone of its push to end the war in Ukraine swiftly while advancing American economic interests. The focus on rare earth minerals, vital for technology and renewable energy, underscores a shift toward a transactional approach in U.S. foreign policy. Though the White House offered no immediate comment, the deal has already sparked debate. Supporters see it as a lifeline for Ukraine’s war-torn economy, projecting billions in revenue, while critics warn it risks prioritizing profit over sovereignty.
As of today, the agreement awaits formal signing, with both leaders expected to iron out lingering details, potentially including military aid commitments, during Zelenskyy’s anticipated U.S. visit. For now, this pact marks a bold new chapter, blending economic ambition with geopolitical strategy, as Ukraine and the U.S. navigate an uncertain future together.