The United States and Ukraine have just signed a significant agreement that could shape the future of Ukraine’s economy and the war effort. The deal, months in the making, creates a special investment fund and grants the US access to some of Ukraine’s rich natural resources — from minerals to oil and gas.
While it’s being framed differently by both governments, the official text of the deal is now public, offering insight into what’s actually on the table. Here are seven major takeaways from this landmark agreement:
1. No Payback Required for US Aid
Former President Trump had previously floated the idea that Ukraine should repay the estimated $350 billion in aid provided during the war. Ukrainian President Volodymyr Zelensky firmly rejected the idea — and the new deal reflects that.
Ukraine’s Prime Minister Denys Shmyhal confirmed there are no provisions requiring Ukraine to repay any supposed “debt” to the US. This marks a notable concession from Washington.
2. US Aims to Recoup Value — But Not Through Debt
Despite the lack of a repayment clause, Trump has still promoted the deal as a win for America. He claims that by gaining access to Ukraine’s resources, the US will get back “much more in theory” than the billions spent so far.
This access is part of the broader strategy to align economic gains with continued support, rather than demanding direct financial returns.
3. US Strikes a Tougher Tone on Russia
Interestingly, the language used by the US government in announcing the deal is much harsher on Russia than what we’ve typically seen from the Trump administration.
For instance, the deal refers to “Russia’s full-scale invasion,” and the US Treasury made it clear that anyone involved in funding or supplying Russia’s war efforts will be barred from benefiting from Ukraine’s reconstruction. This stronger stance is likely to reassure Kyiv, which has long urged Washington to apply more pressure on Moscow.
4. Oil and Gas Are Now Part of the Deal
While the spotlight has been on Ukraine’s mineral wealth, the agreement also includes joint access to oil, natural gas, and other hydrocarbons.
These resources remain under Ukrainian ownership, but the US will be involved in exploration and development. This inclusion is a shift from earlier drafts of the deal, suggesting Ukraine may have softened its initial position on energy access.
5. No Threat to Ukraine’s EU Dreams
There were fears that giving the US preferential treatment in resource deals might complicate Ukraine’s path to European Union membership — especially since Ukraine and the EU already have a strategic partnership on raw materials.
But the deal explicitly recognizes Ukraine’s EU ambitions. It even includes a clause stating that if any terms of the agreement conflict with future EU obligations, the US is open to renegotiating. That shows a diplomatic effort to avoid roadblocks with Brussels.
6. Military Support Is (Partially) Back on the Table
One of the most strategic elements of the agreement is how it links continued US military aid to economic cooperation.
Ukraine’s First Deputy Prime Minister Yulia Svyrydenko, who signed the deal in Washington, said it opens the door to further American military assistance — including potential air defense systems.
However, no hard military guarantees are included. While this leaves room for flexibility, it also highlights the uncertainty around long-term US support under Trump’s leadership.
7. Profits Might Be Reinvested in Ukraine — At Least for a Decade
According to Ukrainian officials, for the first 10 years, profits generated from the investment fund will be reinvested into Ukraine’s economy, either through new development projects or rebuilding efforts.
Interestingly, this clause wasn’t found in the version of the agreement signed in Washington — suggesting it could be added later through a separate technical agreement. After that decade, profits may be shared between Ukraine and its American partners.
Final Thoughts
This deal is a big moment for both countries. For Ukraine, it represents a lifeline — both economically and strategically — as it continues to fight for sovereignty and rebuild from war. For the US, it’s a chance to strengthen its influence in Eastern Europe and potentially benefit from future reconstruction success.
Still, many questions remain — especially around how long US political will to support Ukraine will last. But for now, the deal signals a renewed commitment, at least economically, to stand by Ukraine.
