What does the Ukrainian resources agreement concluded between Trump and Zelensky contain?

kyiv and Washington have sealed an agreement providing that the United States will invest in Ukraine mineral, oil and gas, while the American authorities seek to reduce their military aid provided to this country ravaged by the Russian invasion.

These regulations are the culmination of weeks of difficult negotiations following a spectacular verbal joust between American presidents Donald Trump and Ukrainian Volodymyr Zelensky in the Oval Office, at the end of February, which had a first signature hounded.

Here is what we know about this text published by the Ukrainian government and which does not include American security guarantees.

• How did the negotiations go?

Donald Trump has repeatedly required compensation for American military and financial aid paid since the start of the Russian invasion in 2022. Since his return to power, he has not provided any new aid to kyiv, who only receives the assistance granted under his predecessor Joe Biden.

Trump has quantified the amount owed by kyiv to $ 500 billion, more than four times the assistance provided so far – around $ 120 billion – according to the Kiel Institute for the world Economy (IFW Kiel). Volodymyr Zelensky rejected a first version of the agreement on the grounds that “Ten generations of Ukrainians” would have had to pay but the two countries then managed to find a compromise.

After the altercation in the Oval Office, Washington put on the table a new version of document described by the media and experts as very disadvantage for kyiv. This document included in particular as a Ukrainian debt all the American military aid granted by Joe Biden.

After weeks of tense negotiations, the two countries finally signed the agreement on Wednesday.

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Before his signing, Ukrainian Prime Minister Denys Chmygal greeted “A nice international agreement”. US Treasury Secretary Scott Bessent was also delighted that his country has “A chance to participate, to get […] compensation “ for help provided to Ukraine.

Ukrainian President Volodymyr Zelensky also praised an agreement according to him “Truly equitable”. “The agreement has changed significantly during the preparation process. It is now a truly equitable agreement that creates significant investment opportunities in Ukraine ”said Volodymyr Zelensky in his daily address.

• How does the agreement work?

The two states must set up an investment fund funded and managed equally for the reconstruction of Ukraine.

Ukraine will bring to the fund ” news “ Licenses on its raw materials (oil, gas, rare ores) while retaining control of all its natural resources and infrastructure. The agreement covers 57 types of mineral resources, including gas, oil, titanium, lithium and rare minerals.

If the document recognizes an important “Financial support” American provided to Ukraine since 2022 he does not mention any debt to reimburse for this assistance. On the other hand, he provides that the new American military aid will be recorded as a contribution to the fund. The profits released by the fund will be reinvested in the country, according to kyiv.

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The agreement also stipulates that its provisions should not prevent Ukraine membership in the European Union and that it will be subject to the Ukrainian Parliament for ratification.

• What natural resources in Ukraine?

According to various estimates, Ukraine concentrates some of the world’s mining resources, but not all exploited or easily exploitable. Others are in territories occupied by Moscow.

The country is in fortieth position of mineral producing countries, all categories combined (coal included), according to the publication World Mining Data in 2024. Ukraine thus seated on three strategic minerals: manganese (8th producer world), titanium (11th) and graphite (14th), essential for electric batteries. Of this last ore, the country concentrates “20 % of global resources estimated”according to the French Bureau of Geological and Mining Research (BRGM).

Ukraine is also according to the BRGM “One of the main European countries in terms of potential” operating lithium, also essential for batteries.

On the other hand, it is not specially renowned for its rare land reserves, a very specific category of 17 metals essential to the world economy (screens, drones, wind turbines, electric motors, etc.).

• What are the American guarantees on the security of Ukraine?

Ukraine has repeatedly stressed that any agreement on its natural resources should include solid and long -term security guarantees in order to dissuade Moscow from attacking it again. But the document signed on Wednesday mentions no specific American security commitment.

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However, a press release from the American Treasury mentioned “Large -scale invasion” From Ukraine by Russia, very rare in Washington’s mouth since the merger with Moscow operated by Trump.

According to the secretary of the Treasury Bessent, the agreement shows “May the United States have an economic interest in Ukraine”. “It is a signal addressed to Russian leaders”He told Fox News.