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President Donald Trump and Ukrainian President Volodymyr Zelenskyy are set to formalize an agreement on Friday that would see the countries share the proceeds from the development of minerals and energy projects, according to a copy of the document reviewed by FOX Business.
FOX Business’ Edward Lawrence exclusively obtained a copy of the document that will be formally signed during Zelenskyy’s visit to Washington, D.C. on Friday.
The deal is structured to give the U.S. a vested interest in Ukraine by creating the opportunity for a return on U.S. taxpayer’s investment through the sharing of the proceeds from developing rare earth minerals, as well as energy resources like oil and natural gas and infrastructure projects such as data centers.
It would immediately establish a fund that will help facilitate investment in Ukraine from which the U.S. and Ukraine will share the top line revenues, rather than the bottom line, to prevent contractors from padding their expenditures to eat into what would be left over for the two countries.
AS THE US-UKRAINE RARE EARTH MINERALS DEAL TAKES SHAPE, HERE’S WHAT TO KNOW
President Donald Trump greets Ukraine’s President Volodymyr Zelensky as he arrives at the White House in Washington, DC, February 28, 2025. (TIERNEY L CROSS/AFP via Getty Images / Getty Images)
President Trump believes that the deal shows the U.S. commitment to Ukraine’s security and serves as a signal to Russia that the U.S. doesn’t plan to leave the region. Treasury Secretary Scott Bessent was responsible for crafting the structure of the deal.
The deal was structured to be broader than solely focusing on rare earth minerals to include oil, natural gas, and infrastructure projects because much of Ukraine’s rare earths are located in areas occupied amid Russia’s invasion, FOX Business has learned.
The inclusion of those other projects will help get revenues flowing to the reconstruction investment fund. Estimates from Ukrainian think tanks We Build Ukraine and the National Institute of Strategic Studies suggest that about 40% of Ukraine’s metal resources, which include other non-rare earths, are located in areas of eastern and southern Ukraine currently occupied by Russia.
Ukrainian President Volodymyr Zelenskyy and President Donald Trump are meeting at the White House on Friday. (Reuters/Shannon Stapleton / Reuters)
TRUMP SAYS UKRAINE RARE-EARTH MINERALS DEAL WILL LEAD TO ‘SUSTAINABLE’ FUTURE BETWEEN US, UKRAINE
The U.S.-Ukraine agreement is intended to be the foundation of a larger peace deal for Ukraine that will take shape in the weeks and months ahead.
The Trump administration also plans to use the framework of a mutually beneficial investment fund as a means of pivoting away from the traditional models of aid-based or debt-based support for countries in distress.
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FOX Business has also obtained two pieces of correspondence, one of which shows the deal was ratified by Ukraine’s Cabinet on Wednesday, Feb. 26.
The other document from Ukraine’s economic minister Yuliia Svyrdenko was sent to Bessent informing him of the approval and expressing that Ukraine is “grateful for the efficient cooperation of the Agreement.”
This is a developing story. Please check back for updates.
