The United States and Ukraine have reached an agreement granting US access to Ukraine’s natural resources.

According to a press release from the Treasury Department, the US and Ukraine have signed an agreement to establish the United States-Ukraine Reconstruction Investment Fund. The deal will see a joint investment in Ukraine’s natural resources, including rare minerals, oil, and natural gas.

“Under the leadership of President Donald J. Trump, the Treasury Department and the U.S. International Development Finance Corporation (DFC) will work together with the Government of Ukraine to finalize program governance and advance this important partnership,” the statement read.

Treasury Secretary Scott Bessent expressed enthusiasm regarding the signing of the economic partnership, saying the US is “committed to helping facilitate the end of this cruel and senseless war.”

“This agreement signals clearly to Russia that the Trump Administration is committed to a peace process centered on a free, sovereign, and prosperous Ukraine over the long term,” Bessent said in a statement. “President Trump envisioned this partnership between the American people and the Ukrainian people to show both sides’ commitment to lasting peace and prosperity in Ukraine. And to be clear, no state or person who financed or supplied the Russian war machine will be allowed to benefit from the reconstruction of Ukraine.” 

The deal is being viewed as a show of support from Ukrainian President Volodymyr Zelensky and a strategic effort by Kyiv to secure the backing of President Donald Trump in ongoing ceasefire negotiations with Russia.