Trump administration officials shared a few details with reporters on a conference call Thursday morning, saying the deal will include more than just minerals.
“It is not just rare earths, renewable minerals, and the many other items that have been highlighted in the conversations around this,” an official said. “It will also include oil and gas and, critically, natural resources related to infrastructure to capture the full value chain associated with Ukraine’s economic development.”
The minerals deal has been in the works since President Donald Trump took office on Jan. 20, and was reported to be a sticking point in peace negotiations with Ukrainian President Volodymyr Zelensky. While the United States views the economic partnership as a de facto security agreement, Zelensky pushed for concrete security guarantees against future Russian aggression.
It appears the two sides have been able to iron out their differences.
The deal establishes a 50/50 partnership between the U.S. and Ukraine via a limited liability company that will evenly split any royalties, licensing fees, or other payments from new natural resource projects in Ukraine, officials said. Some of that money would then be invested back into new projects in Ukraine, with the idea that economic benefits would reach both countries.
The deal will “generate long-term returns for both the American and Ukrainian people,” according to a Trump administration official.
“This partnership is going to be fundamental to the peace process the president is leading,” the official said, “because it sends a strong message to Russia that the United States has skin in the game and the U.S. is committed to Ukraine’s long-term success.”
Specifically, the deal includes three separate legal documents, all of which have been signed, establishing the details of how the partnership will work. Those agreements will now go to the Ukrainian parliament to be ratified there, though officials said it would not require approval from Congress because the deal does not include changes to U.S. law.
Trump and Zelensky’s differing viewpoints on the minerals deal played a role in the infamous Oval Office blowup that occurred on Feb. 28. The two were supposed to sign a preliminary agreement on that day, which did not occur as Zelensky quickly exited the White House once the cameras stopped rolling.
Treasury Secretary Scott Bessent was heavily involved in negotiating the final deal, and officials on the call also praised Trump’s efforts, saying it was “incredible” that the deal was reached the same week that he celebrated 100 days in office.
The deal will reportedly give the U.S. a significant interest in natural resources and infrastructure across Ukraine, which the Trump administration says signals a strong and lasting partnership that can be a model for international economic agreements moving forward.
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As has become habit, officials heaped praise on Trump for his role in the deal, saying it could not have happened without his leadership.
“This agreement reflects the president’s extraordinary sophistication as a businessman and as a statesman,” an official said. “This is a truly unique model for economic partnerships that represents a fundamental break from how many arrangements have been concluded in the past.”
