US Treasury: minerals deal with Ukraine will help Trump put pressure on Russia

Scott Bessent, photo by Getty Images

US Treasury Secretary Scott Bessent said that President Donald Trump sees the Ukraine minerals deal as an important tool to influence Russia in the context of future peace talks.

Speaking at the Milken Institute's Global Conference in Los Angeles, Bessent noted that this initiative is Donald Trump's own. It is aimed not only at economic cooperation but also at strengthening the US position in negotiations with the Kremlin.

According to the Minister, such an agreement will create additional leverage on the Russian leadership. At the same time, it should symbolise the US support for Ukraine and convince American society that partnership with Ukraine can be mutually beneficial.

Bessent stressed that this initiative is also intended to demonstrate the unity between the US and the Ukrainian people, and that economic cooperation could serve as a kind of security guarantee for Ukraine.

Earlier this year, Ukraine's Minister of Economy Yuliia Svyrydenko and U.S. Treasury Secretary Scott Bessent signed an agreement between the two countries to establish a Recovery Investment Fund.

Kyiv and Washington have agreed to set up an Investment Fund for Ukraine's reconstruction that will attract international investment. Yuliia Svyrydenko noted that the agreement provides for mutually beneficial conditions for both countries.

In turn, Scott Bessent called the agreement «historic». He also noted that the document «clearly signals» to Russia that the administration of US President Donald Trump «is committed to a peace process focused on a free, sovereign and prosperous Ukraine in the long term».