The United States and Ukraine have signed a wide-reaching economic and strategic partnership agreement that grants Washington joint access to Ukrainian natural resources, including critical minerals, oil, and gas. The move is being hailed by Kyiv as a significant step in securing long-term American support as Ukraine’s war with Russia stretches into its third year.
The deal, which has been under negotiation for months, establishes a joint investment fund designed to spur reconstruction efforts and attract U.S. capital. While details were initially sparse, the Ukrainian government has now published the agreement, with both sides making public statements outlining its implications.
Resource Access Without Debt
One of the key aspects of the deal is that Ukraine will not be required to repay the financial or military aid it has received from the U.S.—a demand previously floated by former President Donald Trump. Ukrainian Prime Minister Denys Shmyhal confirmed there is no mention of debt repayment in the agreement.
Despite this, the U.S. has portrayed the deal as mutually beneficial. Senior American officials described the partnership as a pathway for the U.S. to recoup some of the financial commitments it made through economic cooperation and access to future profits.
Strategic and Military Implications
U.S. language around the deal took a noticeably sharper tone against Russia than in recent Trump administration statements, referring to Moscow’s “full-scale invasion” and pledging to exclude any actors who supported Russia’s war machine from Ukraine’s reconstruction.
Importantly, while the deal opens the door for continued American military assistance—such as air defense systems—there are no explicit security guarantees. This leaves open the possibility that Washington could reduce or withdraw its support, a concern in both Kyiv and Europe.
Energy and EU Integration
Though initial drafts focused largely on Ukraine’s mineral wealth, the final agreement also includes oil, gas, and other hydrocarbons. Ukrainian officials confirmed that resource ownership remains with the country, while the U.S. will gain joint access for investment and development purposes.
There were concerns the deal might hinder Ukraine’s bid to join the European Union, especially given existing EU agreements on raw materials. However, the agreement explicitly acknowledges Ukraine’s EU ambitions and commits both parties to revisiting terms if needed to align with EU obligations.
Investment and Reinvestment
Ukraine’s Deputy Prime Minister Yulia Svyrydenko, who signed the deal in Washington, said profits from the joint fund would be reinvested into Ukraine’s economy for the first decade. Though this reinvestment clause is not formally included in the signed agreement, Kyiv insists further negotiations will cover those terms.
As Ukraine continues to seek reconstruction aid and military support, this new agreement underscores the growing role of strategic economic partnerships in shaping the country’s wartime and postwar future. The Kremlin has yet to publicly respond.
