US Donald Trump claimed in an interview with Real America’s Voice that the agreement on critical minerals signed between Washington and Kyiv allows the US to access Ukraine’s rare earth deposits at any time. As the Kyiv Post reports, Trump said verbatim: “Ukraine is very rich, has very fertile soil in terms of rare earths. And we have signed a contract that relates to rare earths. We can go in anytime and take pretty much whatever we want. That was a pretty good deal.”
Trump added that the potential value of the deal for the US could exceed $300 billion. The bilateral agreement was signed in April 2025 after lengthy negotiations between the US and Ukraine. It provides for the creation of a joint Ukrainian-American investment fund for reconstruction, based on a 50:50 revenue-sharing model.
Legal framework contradicts Trump’s portrayal
The operational management of the fund lies with the US Development Finance Corporation (DFC) and Ukraine’s agency for public-private partnerships, which is subordinate to the Ministry of Economy. The fund’s revenues are to come from royalties, license fees, and production-sharing agreements linked to the extraction of critical minerals, rare earths, and fossil fuels such as oil and natural gas.
The legal framework of the agreement, however, contradicts Trump’s claim of unrestricted access. Under the final terms, Ukraine retains full sovereign ownership of all mineral resources. Moreover, the revenue-sharing mechanism applies exclusively to newly issued extraction licenses, so state-owned companies like Ukrnafta remain entirely under Ukrainian control.
The agreement also contains no debt obligations for Ukraine. The text stipulates that Kyiv does not have to compensate Washington for the military aid provided during Russia’s war of aggression. This contradicts Trump’s earlier statements that the US had given Ukraine over $300 billion that must be repaid.
All revenues of the joint fund must be reinvested exclusively in Ukraine, with both nations contributing to reconstruction efforts. According to initial estimates by Ukrainian officials, the fund is not expected to generate liquid returns for at least a decade.
Source: www.kyivpost.com
