The US and Kyiv have signed an agreement to share profits and royalties from the future sale of Ukrainian minerals and rare earths, sealing a deal that Donald Trump has said will provide an economic incentive for the US to continue to invest in Ukraine’s defense and its reconstruction after he brokers a peace deal with Russia.
The minerals deal, which has been the subject of tense negotiations for months and nearly fell through hours before it was signed, will establish a US-Ukraine Reconstruction Investment Fund that the Trump administration has said will begin to repay an estimated $175bn in aid provided to Ukraine since the beginning of the war.
