U.S. Treasury Secretary Scott Bessent touted the apparent success of the "win-win" minerals agreement signed between Ukraine and the United States in an interview on Fox Business on May 1, suggesting a reset in relations between the two countries.
"In terms of the deal, this is a total economic partnership. This isn't just rare earths, it's infrastructure, it's energy, so there's the opportunity for both sides to really win," Bessent said during an interview with Fox Business.
Both sides signed a long-awaited minerals agreement on April 30 that establishes a joint investment fund in Ukraine.
The signing of the minerals deal follows months of negotiations that at times became contentious. The U.S. and Ukraine were set to sign the deal in late February, but the plan fell apart following the infamous White House argument between President Volodymyr Zelensky and U.S. President Donald Trump.
"I think this is a strong signal to the Russian leadership and it gives President Trump the ability to now negotiate with Russia on an even stronger basis as opposed to the daylight that had been previously created between the U.S. and Ukraine," Bessent said.
"Now we can take these cards and go and show the Russian leadership that there is no daylight between the Ukrainian people, the American people, between our goals," he added.
The Kyiv Independent news desk
While the current deal doesn’t contain any security guarantees, Svyrydenko wrote on X to say that “in addition to direct financial contributions (to the fund), the deal may also provide new assistance — for example, air defense systems for Ukraine.”
"We are going to accelerate the Ukraine economy and as the president says, as I always say, economic security is national security, national security is economic security, so a strong Ukraine post-this conflict will help Ukrainians maintain their national security," Bessent added.
The Treasury Secretary's comments come amid ongoing peace deal negotiations led by the United States. Trump has reportedly grown frustrated at the pace of negotiations, suggesting in recent days that Russian President Vladimir Putin may be "just tapping me along."
The peace deal, which is yet to be ratified by the Ukrainian parliament, has received some skepticism from lawmakers due to a lack of details.
While revenues from Ukraine’s licenses will be added to the fund, it remains unclear how the Trump administration will encourage America's private sector to invest in Ukrainian projects.
In an interview on May 1, Trump said the minerals agreement with Ukraine ensures that "we get much more… than the $350 billion" the U.S. has provided in assistance — referring to Trump's repeatedly inflated total on the amount of U.S. aid to Ukraine.
Zelensky has hailed the agreement as “a partnership on fair terms” and said it could attract further American support.
Yana Prots
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