According to Reuters, the deal was signed in Washington and was actively promoted by President Donald Trump himself. It established a joint investment fund to serve the Ukrainian reconstruction process, while creating a premise for the modernization of the industry and reforming the country's legal system.
US Treasury Secretary Scott Bessent said this was a clear sign sent to Russia, affirming the unity between the two countries and giving Mr. Trump a more solid negotiation foundation.
Previously, Ukrainian President Volodymyr Zelensky and Mr. Trump had a meeting on the sidelines of the funeral of Pope Francis in Rome on April 26. Both sides believe that this dialogue plays a key role in reaching the current agreement.
This is the first result of the meeting in the Vatican, making it truly historic, Zelensky said in a video on Telegram.
However, the agreement still needs to be approved by the Ukrainian parliament. Deputy Prime Minister of Ukraine Yulia Svyrydenko said the process is expected to take place in the next few weeks, although some technical details must be completed before the investment fund comes into operation. She emphasized that this is a practical tool to help Ukraine become more sustainable and autonomous.
Meanwhile, former Russian President Dmitry Medvedev, now deputy head of the Russian Security Council, criticized the deal. He said Ukraine had been so exhausted that it had to use mineral resources to pay for military aid from the US, calling it a trade-off for national assets.
Despite the controversy, Ukraine's international bond prices have risen after the deal was signed, reflecting financial sector's optimism about more favorable terms than expected.
Ukraine owns many valuable resources such as rare earth metals, iron, uranium and natural gas - important factors in the technology, electric vehicles and defense industries, in the context of China still dominating the field of rare earth mineral exploitation globally.
