Ukrainian parliament ratifies minerals deal with U.S.

The Ukrainian parliament on Thursday voted to ratify the minerals deal its country signed last week with the United States.

Following debate over the deal, 338 out of 400 parliament members voted to establish the American-Ukrainian Reconstruction Investment Fund that will include mining and energy profits, Politico reported.

The minerals deal was signed last week by representatives for Ukrainian President Volodymyr Zelensky and President Donald Trump.

The U.S. will develop and profit from Ukraine’s mineral wealth, including elements crucial to manufacturing modern technologies, while contributing to the reconstruction investment fund to help Ukraine after its war with Russia.

"I think it is a win-win. What it is not is ‘sign here and it is a loan-to-own," Treasury Secretary Scott Bessent said on Monday. "You’re going to default on the debt, we’re going to own all your minerals.’ This is an economic partnership. They put assets, we put in capital from DFC (U.S. International Development and Finance Corporation), it’s 50/50. It’s equity, not debt."

The deal comes after the initial signing plan blew up over a spat between Trump and Zelensky. The Ukrainian president met with Trump and Vice President JD Vance to sign the original agreement at the White House in February, but the meeting turned sour after Vance accused Zelensky of being disrespectful.

The agreement also comes as the U.S. attempts to make a peace deal for both countries to stop the three-year war.