The United States and Ukraine signed a comprehensive economic agreement on Wednesday to establish a joint investment fund aimed at rebuilding war-torn Ukraine, while also granting the administration of U.S. President Donald Trump access to Ukraine’s natural resources.

The deal coincides with ongoing multilateral diplomatic efforts to find a resolution to the war between Russia and Ukraine, which has entered its third year.

In a video message, U.S. Treasury Secretary Scott Besant stated, “I am pleased to announce today the signing of this historic economic partnership agreement with Ukraine,” highlighting Washington’s continued commitment to supporting Ukraine’s reconstruction.

Ukrainian Economy Minister Yuliia Svyrydenko, who signed the agreement in Washington, said, “Together with the United States, we are working to create a fund that will attract global investment into our country.” In a Facebook post, she added that the deal would finance projects related to the extraction of minerals, oil, and gas in Ukraine.

The agreement is seen as a pivotal step in strengthening economic ties between the two nations and expanding American involvement in Ukraine’s strategic resource sectors amid ongoing geopolitical tensions.