On April 30, 2025, Bloomberg reported that Ukraine is on the verge of signing an agreement with the United States on joint development of natural resources, which could be a key step in strengthening the economic partnership between the countries. According to the agency's source, the final draft of the document has been finalized, and its signing is expected on Wednesday, April 29, in Washington, where Ukrainian Economy Minister Yulia Svyrydenko is heading for this purpose. The agreement, as noted, will strengthen the support of Kyiv from the Donald Trump administration, but is happening against the backdrop of his growing dissatisfaction with the delays in peace talks on Ukraine.

According to Bloomberg, the agreement envisages the creation of a joint fund to manage investments in Ukraine's mining and energy sectors. Kyiv's contribution will be determined taking into account only future military aid from the United States, which excludes retrospective accounting of the previously provided $100 billion, as Reuters previously reported. The focus of the deal is to attract investment in the development of rare earth metals, lithium, gas and coal, the reserves of which in Ukraine are estimated at $11,5 trillion, according to the Financial Times. The agreement will not create obstacles to Ukraine's accession to the EU, which was one of Kyiv's key demands. Two technical documents regulating the work of the fund have not yet been agreed upon, but their revision will not affect the signing of the main agreement.

On April 29, the White House reiterated President Trump’s confidence that a deal on cooperation in the field of critical minerals would soon be signed. According to The New York Times, Trump called the deal “very important,” emphasizing its role in economic support for Ukraine and strengthening the U.S. position in the market for strategic resources. However, according to Bloomberg, Trump has expressed disappointment with the slow progress in peace talks, blaming Russian President Vladimir Putin for the lack of constructive steps. Trump, who promised to end the conflict in the first 100 days of his second term, faces domestic pressure as some Republicans demand that he cut aid to Kyiv.

Negotiations on the agreement began in February 2025, but were fraught with tension. As Reuters notes, the initial draft proposed in March required Ukraine to hand over control of half of its resource revenues to the U.S., sparking protests in Kyiv. After a stormy meeting between Trump and Ukrainian President Volodymyr Zelensky at the White House on February 28, where the parties failed to sign the document, negotiations continued. In April, according to CNN, the most contentious points were eliminated, including the lack of commitment to repay past aid as debt.