[Video transcript]
After months of tense negotiations, Ukraine and the US ink a minerals deal.
Washington has long demanded compensation for the billions in aid it's given to Kyiv.
Now, the Trump administration has secured preferential access to Ukraine's mineral resources, and an equal share with Ukraine's government in exploiting them. The US says the deal is a message to Russia.
Scott Bessent, US Treasury Secretary: "Today's agreement signals clearly to Russian leadership that the Trump administration is committed to a peace process centered on a free, sovereign and prosperous Ukraine over the long term."
According to the Ukrainian Geological Survey, the country has large deposits of minerals.
These include graphite and lithium used in batteries for electric vehicles.
And titanium and zirconium used in aerospace.
There are also deposits of rare earth metals.
Ukraine says the deal is a win-win.
Denys Shmyhal, Ukrainian Prime Minister: "This is a strategic deal for creation of an investment partnership fund. It's truly an equal and good international deal on joint investment in the development and restoration of Ukraine between the governments of the United States and Ukraine."
Ukraine managed to negotiate away several punishing terms from earlier drafts.
The deal doesn't give US businesses special privileges over European investors that could hamper Ukraine's EU membership bid.
And it won't be asked to compensate the US for its previous assistance.
Harsher terms were on the table when Zelenskyy visited Trump in February. That meeting was a diplomatic disaster.
President Volodomyr Zelenskyy wanted security guarantees from the US.
That's still off the table, but Trump says the new deal will discourage hostilities.
Donald Trump, US President: "It's also good for them because you'll have an American presence at the site, Chris. And the American presence will, I think, keep a lot of bad actors out of the country or certainly out of the area where we're doing the digging."
Signing the deal may have been the easy part. Some of the resources lie in Russian-occupied territory. Ukraine says those reserves are worth 350 billion euros.