On May 2, 2025, the United States announced the sale of $50 million worth of military equipment to Ukraine, marking the first approved transfer since the suspension of military aid by President Donald Trump’s administration. This announcement coincided with the signing of a joint agreement between the US and Ukraine for the development of mineral resources, reports the Baltimore Chronicle, citing The Guardian.
The deal involves the creation of a joint investment fund for Ukraine’s recovery, into which the country will contribute 50% of future revenue from the monetization of state-owned natural resources, including rare earth elements, oil, and gas. These funds will be reinvested to support Ukraine’s security and prosperity. The agreement was signed by Ukraine’s Minister of Economic Development and Trade Yuliia Svyrydenko and US Treasury Secretary Scott Bessent.
Ukrainian President Volodymyr Zelenskyy described the agreement as “historic” and “an equal partnership,” emphasizing its potential to attract investment, modernize industry, and enable legal reforms. The agreement does not require Ukraine to repay previous US military aid, a point that had been previously contested.
Meanwhile, Russia carried out new attacks on Ukrainian cities. In Zaporizhzhia, 14 people were injured in a drone strike that damaged residential buildings and infrastructure. These assaults took place amid strengthening US diplomatic and military support for Ukraine.
In addition, the US administration has undergone personnel changes: National Security Advisor Mike Waltz was replaced by Marco Rubio, a move that could influence the future direction of US foreign policy towards Ukraine and Russia.
At the same time, the Vatican has begun preparations for a conclave to elect a new Pope, while Romania is gearing up for the first round of presidential elections scheduled for the upcoming weekend.
Earlier we wrote that Trump and Zelenskyy discuss ceasefire in closed-door talks in Rome.