Ukraine and the United States have signed a memorandum of understanding to develop Ukraine’s rare earth mineral resources, in a move that represents a significant step in deepening bilateral economic cooperation.

The agreement aims to establish a joint investment platform that supports Ukraine’s reconstruction efforts following the Russian invasion in 2022. The memorandum outlines areas of collaboration including exploration, extraction, processing, and infrastructure development for critical minerals essential to modern technologies.

Ukrainian First Deputy Prime Minister and Economy Minister Yulia Svyrydenko announced the signing, stating that the deal reflects constructive collaboration and mutual determination to conclude a beneficial agreement. She highlighted that the partnership will create major investment opportunities, infrastructure modernization, and a long-term win-win economic alliance.

President Donald Trump, during a meeting with Italian Prime Minister Giorgia Meloni at the White House, confirmed that the full agreement will likely be signed next Thursday. U.S. Treasury Secretary Scott Bessent added that the document is nearly finalized, spanning 80 pages, and builds on months of negotiations.