A leading Ukrainian economist has told the Express that the minerals deal signed with the US could act as "a powerful catalyst" for growth, helping to attract international investors to the country. After months of fraught negotiations, Washington and Kyiv finally put pen to paper on a deal, that many in Ukraine hope will cement America's commitment to the country's long-term future.

The agreement was signed by the US Treasury Secretary Scott Bessent and Ukraine’s first deputy prime minister, Yulia Svyrydenko on Wednesday. According to reports, the deal sets up a Reconstruction Investment Fund, controlled 50/50 by the signatories. Money raised from the fund will go towards reconstruction of Ukraine during the first 10 years. The fund will also help Ukraine pay for future military and humanitarian aid.

Significantly, Kyiv will retain full control over Ukraine's resources and infrastructure.

The deal was hailed as a major boost for the Ukrainian economy by a former head of the country's National Bank.

Kyrylo Shevchenko told the Express: "Beyond direct investments in the resource sector, it promises broader benefits, including technological transfers, job market expansion, and growth in related industries.

"Moreover, it lays the groundwork for deeper energy partnerships with the United States, a critical step in reorienting Ukraine’s foreign economic policy."

He added that the deal would attract international financial and industrial players, as it would send a clear message that "investing in Ukraine is not only viable but also secure."

The agreement will provide the US with future licences to mine and extract minerals such as titanium and graphite.

Ukraine has some 19 million tonnes of proven graphite reserves, which is used to make batteries for electric cars.

It also has 7% of Europe's supplies of titanium, a metal used in the construction of everything from aeroplanes to power stations.

Mr Shevchenko said the deal holds tactical importance for US policy in the short term.

"It stands as one of the few tangible achievements of the Trump administration within its first 100 days," he explained.

"Trump has claimed the deal’s potential profits could surpass all US aid provided to Ukraine during the war, offering political cover and financial justification for continued support.

"This aligns with his rhetoric on reducing government spending, easing debt burdens, and addressing budget deficits."

A Ukrainian politician told the Express that Kyiv was determined to make the deal work and "would go to great lengths to accommodate the Americans."

He added the deal would help to smooth over some of the tensions between the two countries, as well as making "it easier to implement joint policies on resisting Chinese attempts to play key roles in Ukraine’s infrastructure projects."