The United States and Ukraine have signed a historic mineral resource agreement that will bring significant American investment into Ukraine's rare mineral sector. This agreement comes at a crucial time, as Ukraine continues to deal with the aftermath of Russia's invasion, working to recover from wartime damage while seeking global support and investment for economic reconstruction and future development.
One of the most important aspects of the agreement is the creation of a "Joint Reconstruction Investment Fund." This fund will be jointly managed by both countries, and its profits will be exclusively reinvested into Ukraine's development and reconstruction. The initiative aims to use Ukraine's mineral and natural resources as a means to achieve long-term financial stability.
The deal also holds substantial potential benefits for the United States, offering economic gains from mineral resource profits and technology transfer. For Ukraine, it marks a critical step forward in its post-war rebuilding and efforts to restore economic stability. However, the agreement currently lacks any security guarantees, so it does not appear to offer an immediate solution or deterrent to the ongoing conflict.
From the outset, the invasion was internationally condemned as an act of aggression. The conflict has triggered Europe's biggest refugee crisis since World War II. More than 8.8 million Ukrainians have fled the country, over 200,000 have been internally displaced, and over 60,000 people have been killed.
On that fateful day in 2022, Russian tanks rolled into Ukraine with an aim to seize Kyiv, the capital. However, they were forced to retreat in the face of fierce Ukrainian resistance. For the past three years, Ukraine has fought valiantly to protect its sovereignty and independence. The conflict largely centers on Crimea and parts of Donbas, which are internationally recognized as Ukrainian territory. Earlier, a resolution was passed in the Russian parliament authorizing President Vladimir Putin to use military force in Ukraine-after Russia had already begun its military operation under the name "Return of Crimea."
Still, there is a glimmer of hope from recent statements by U.S. President Donald Trump, Russian Foreign Minister Sergey Lavrov, and Kyiv Mayor Vitali Klitschko. Klitschko recently told the BBC that Ukraine may have to concede some territory as part of a peace deal. Under pressure from Trump, he said such a move might be necessary for a temporary peace-though he admitted it would not be fair. However, President Zelensky has consistently rejected any territorial concessions and insists Ukraine will not abandon its land.
Russia also objects to Ukraine's aspirations to join NATO and the European Union.President Trump and Foreign Minister Lavrov have made statements fueling hopes of a ceasefire. Trump, without playing political games, has called for a ceasefire, even asking Zelensky to accept Crimea as part of Russia-a proposal Zelensky has declined. On his social media platform "Truth Social," Trump wrote that Zelensky's rejection could prolong the war and its bloodshed.
Recently, during the late Pope Francis's memorial service in Vatican City, a bilateral meeting between Trump and Zelensky took place. The Times reported that the meeting yielded "fruitful discussions" on ending the war.
The U.S. proposal excluded itself from a future "coalition of willing nations," led by the UK. Another key issue is the fate of occupied Ukrainian territories. The U.S. proposal suggests legal recognition of Russia's annexation of Crimea and acceptance of its control over regions like Luhansk-ideas not supported by Ukraine or its European allies.
Russian Foreign Minister Lavrov told CBS News that Moscow is ready for an agreement, though certain details need careful resolution. He added that President Trump seems to be the only world leader who understands the need to resolve the root causes of this conflict, though Trump has yet to clarify his full plan.
War, conflict, and instability benefit no nation or its people. Instead, they destroy peace and cause immense human and economic loss. The hope remains that Russia and Ukraine will themselves take the initiative to end the war and ensure lasting peace. Global leaders must also intervene urgently to mediate a resolution.
The writer is a journalist and General Secretary of the Bangladesh Climate Change Journalist Forum
