As Washington and Kyiv finalised a landmark natural resources agreement, Ukrainian President Volodymyr Zelenskyy hailed the newly signed minerals deal with the United States as a “historic” step forward for the war-torn country’s economic and industrial future.
Calling it “a truly equal and fair agreement”, Zelenskyy, in his nightly address, said the deal had evolved significantly over the course of its negotiation and now reflected a partnership based on mutual respect. According to Ukrainian officials quoted by AP, the final version signed Wednesday was significantly more favourable than the original draft.
“The agreement has changed significantly during the preparation process. It is now truly an equal partnership—one that creates opportunities for substantial investment in Ukraine, as well as significant modernisation of Ukraine’s industries and, equally importantly, its legal practices,” he said according to The Guardian.
Talks with Trump at Vatican
Zelenskyy said the agreement was the first concrete result of what he described as a “meaningful meeting” with US President Donald Trump during Pope Francis’s funeral service at the Vatican.
According to DW, the Ukrainian president emphasised that the agreement “foresees no debt” and includes the creation of a Reconstruction Fund that will invest directly in Ukraine. It will “generate returns in Ukraine,” Zelenskyy said.
Trump: We made a mineral deal, [with Ukraine] and I think they’ll honor it. We’ve got an American presence on the site, it helps keep bad actors out of the country or at least out of the area.
We haven’t seen the full results yet, but I suspect we will. 1/ pic.twitter.com/1byMPZceiR
— Tymofiy Mylovanov (@Mylovanov) May 1, 2025
The deal had previously faced delays amid tensions between Washington and Kyiv. Ukrainian analysts have pointed out that despite Trump’s repeated claims that Ukraine “has no cards” to play, Kyiv was able to resist significant pressure and walk away with favorable terms.
Notably, one of the most contentious provisions—Trump’s past demands that Ukraine repay previous military assistance through the minerals deal—was dropped from the final agreement.
Strategic signal to Russia
US Treasury Secretary Scott Bessent told Fox Business Network the deal was designed to send a clear message to Moscow. “This shows the Russian leadership that there is no daylight between the Ukrainian people and the American people, between our goals,” he said according to The Guardian. “It gives President Trump the ability to now negotiate with Russia on even a stronger basis.”
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As a further indication of improving ties, the US State Department has approved the first potential sale of military equipment to Ukraine since Trump’s return to office. A proposed license to export “$50 million or more” of defense hardware and services has been sent to the US Senate Committee on Foreign Relations.
Meanwhile, Russia launched another drone attack late Thursday on the south-eastern Ukrainian city of Zaporizhzhia, setting buildings ablaze and injuring 14 people. Regional governor Ivan Fedorov said 10 strikes hit civilian and infrastructure targets.
(With inputs from The Guardian, DW)
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