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MINERALS DEAL

The United States and Ukraine signed a minerals agreement on April 30, 2025, to develop Ukraine’s vast deposits of critical minerals, oil, and gas. The deal aims to secure resources vital for technology, including lithium, titanium, and rare earths, used in electric vehicle batteries and defense systems. Ukraine holds over 100 major mineral deposits, making it a key player in global supply chains.

The agreement, finalized after months of talks, establishes joint investment projects, with the U.S. sharing in the profits. President Trump has pushed for the deal, emphasizing it as a way to offset the billions in U.S. aid to Ukraine during its war with Russia. He noted on Truth Social that the signing was delayed by three weeks. Treasury Secretary Scott Bessent described the pact as a signal of U.S. support for a “free, sovereign, and prosperous Ukraine.”

Ukraine has promoted its mineral wealth as part of President Zelensky’s “victory plan” since fall 2024, seeking U.S. investment to bolster its economy. Earlier drafts of the deal demanded half of Ukraine’s resource revenue without security guarantees against Russia. The final version eases those terms but remains vague on commitments to Ukraine’s defense.

The deal faces challenges. Ukraine’s ongoing war with Russia deters foreign investors, and its mining sector lacks modern surveys and infrastructure. Despite the potential to reduce reliance on China for rare earths, analysts note that significant investment is needed to make Ukraine’s resources viable. The agreement marks a step toward economic cooperation but is seen as largely symbolic given the current conflict.

As of the writing of this DML REPORT, Russian President Vladimir Putin has not issued a direct public response. However, earlier statements provide context on his stance. In February 2025, Putin commented on state television that a potential U.S.-Ukraine minerals deal was not a concern, asserting that Russia has “significantly more resources” than Ukraine. He also offered U.S. companies access to minerals in Russia and Russian-occupied Ukrainian territories, including Donetsk and Zaporizhzhia, as a counterproposal to collaborate on joint projects like aluminum extraction. These remarks suggest Putin aims to downplay the U.S.-Ukraine deal’s impact while promoting Russia’s own resource partnerships with the U.S. No specific reaction to the April 30 signing has been reported.