Image source, Getty Images

As we've been reporting, the US and Ukraine signed a natural resources deal yesterday after months of negotiations.

A former US ambassador to Ukraine tells BBC Radio 4's Today programme that this came after a turning point—when Trump and Zelensky spoke at the Vatican during the Pope’s funeral.

William B Taylor says that after speaking directly to Zelensky, Trump began to doubt that President Putin is a reliable partner. As a result, for Trump, this deal, which "started out as pretty lopsided", has now become a "balanced mutually beneficial agreement", according to Taylor.

While there’s no explicit military security guarantee in the document, Taylor says the provision for long-term investment in Ukraine is “an indication of seriousness” from the Americans.

Natural resources deal brings reassurance for many Ukrainianspublished at 08:35 British Summer Time 1 May

08:35 BST 1 May

Abdujalil Abdurasulov
Ukraine reporter

Many Ukrainians are relieved to learn that the deal on natural resources has been signed. For them, it is a sign that Washington will not abandon Ukraine and will remain a key ally.

There are still worries that the US could turn its back, but this deal is seen as reassurance that America’s military, economic and political support for Ukraine will carry on.

Ukrainians also hope that Washington’s words will change, and that the US will put more pressure on Russia to end its aggression.

It was bitterly disappointing for many Ukrainians to hear Donald Trump and his administration accuse their country of starting the war and suggest concessions to the Kremlin, such as Ukraine not joining Nato and recognising Crimea and other occupied territories.

Image source, Reuters

We're now hearing some of the first comments from Russia about the US-Ukraine natural resources deal signed yesterday.

In a translated comment, Dmitry Medvedev, Russia's former president and now deputy head of the security council, suggests Trump has "finally broken the Kyiv regime into paying for American aid" with Ukrainian minerals.

"Now they will have to pay for military supplies with the national wealth of a disappearing country," Medvedev says.

He also mentions that Trump's ratings have fallen, and says that May has begun "not at all peacefully".

We can now bring you some images following Russian strikes on Odesa in Ukraine overnight.

These pictures have been shared by the State Emergency Service of Ukraine today.

Image source, State Emergency Service Of Ukraine/Reuters

Image source, State Emergency Service Of Ukraine/Reuters

Image source, State Emergency Service Of Ukraine/Reuters

As we've mentioned, there was an overnight strike on the Ukrainian city of Odesa.

Russian drones killed at least two people and injured another five, according to the region's governor.

Oleh Kpir says residential buildings, a supermarket and a school were also damaged.

Odesa is a strategically important port city on the Black Sea and has been repeatedly attacked since Russia's full-scale invasion of Ukraine in February 2022.

Russia has not yet commented on the strike.

We've just heard from an adviser to the Ukrainian government, who says the minerals deal is "a success".

"It constitutes a part of the wider negotiating framework which we hope will lead to establishment of lasting, enduring and just peace," Yuri Sak tells BBC Radio 4's Today programme.

He adds that the deal took "longer than expected" to be signed, but repeats both sides "worked very hard" to make sure the deal is about "equal partnership".

"It's a deal about investment, it's about mutually beneficial projects and we have to view this deal as part of the wider negotiating process and as such it's a success."

The US has signed a deal with Kyiv to share profits from the future sale of Ukraine's mineral and energy reserves, after months of tense negotiations.

It's a significant step in the Ukraine-Russia war and aims to provide an economic incentive for the US to continue to invest in Ukraine's defence and reconstruction.

Meanwhile, overnight, Russian drones killed at least two people and injured another five in a sustained attack on the Ukrainian city of Odesa, according to the region's governor.

We're still waiting to see how Russia will respond to both the deal and the latest strikes.

Stay with us as we bring you all the key developments as they happen.

After months of tense negotiations, the US and Ukraine have announced an agreement on the joint exploitation of Kyiv's energy and mineral resources.

It will involve establishing a "Reconstruction Investment Fund" for Ukraine, to spur Kyiv's economic recovery from its war with Russia.

Here are the latest developments:

• US Treasury Secretary Scott Bessent said it showed both sides were committed to lasting peace and prosperity in Ukraine
• Ukraine's First Deputy Prime Minister Yulia Svyrydenko, who signed the deal in Washington DC, said that all resources would remain the property of Kyiv
• The US will work to attract investment in Ukrainian mineral extraction, she said, and may also provide further military aid

• The language of the announcement shows much more solidarity with Ukraine than is usual for the Trump administration, our correspondent writes
• The US president said the deal would recuperate the multi-billion dollar US assistance to Ukraine since the war began and "much more in theory"

• Russia has yet to comment on the deal

We're pausing our live coverage for now, but you can catch up on the latest in our full article here.

Image source, Reuters

UK Foreign Secretary David Lammy has weighed in on the minerals deal, posting on X that he welcomes the economic partnership between the two countries.

"The UK’s support for Ukraine remains steadfast," he wrote. "With our 100-year partnership, we are deepening economic and security ties for the future generations of both of our countries."

Lammy has supported a ceasefire in Ukraine, announcing just yesterday that he spoke with US Secretary of State Marco Rubio about bringing peace to the region.

Donald Trump has just made his first public comments on the minerals deal, as he phoned in to a town hall on the NewsNation network.

He said the deal represents payback for the money the US has spent on the war so far.

"Biden handed them $350bn," Trump said. He went on to add: "We made a deal where we get much more in theory than the $350bn."

Trump has made the claim that the US has spent around $350 billion (£263 billion) on Ukraine aid on numerous occasions. But a BBC Verify analysis found the actual amount is much lower.

During the town hall, Trump said the previous arrangement with Ukraine left him feeling "foolish".

Moderator Bill O'Reilly asked the president what he talked about when he sat with Zelensky at Pope Francis' funeral last week.

"I was telling him that it's a very good thing if we can produce a deal and you sign it," Trump said.

Asked if the US's presence in Ukraine might inhibit Russia's movement in the region, he said "it could".

Image source, Getty Images

An historic natural resources deal between the US and Ukraine is finally over the line. But there have been plenty of twists and turns over the months it took to get here:

• February 2025: Donald Trump first framed a possible deal as repaying US military aid to Ukraine. Trump said: "I say I want it back. And I told them that I want the equivalent, like $500bn worth of rare earth"
• 28 February: Volodymyr Zelensky travelled to Washington where he was expected to sign the agreement. But instead he faced an extraordinary dressing down by Trump in front of the world's media. "You don't have the cards right now...You're gambling with millions of lives," Trump yelled. Zelensky was told to leave White House and the deal was not signed
• 26 April: The prospect of resurrecting the deal increased after the two leaders had a far more amicable conversation at the funeral of Pope Francis
• 30 April: Following days of intense negotiations, both sides made some "last-minute changes" before finally getting the deal over the line

Just days after Canadian Prime Minister Mark Carney's party won election, his office says he's spoken with Zelensky.

During the call, Carney "underscored Canada's commitment to supporting Ukraine in achieving lasting peace and security".

Carney's office said Zelensky congratulated Carney on his recent election victory.

"The two leaders agreed that a durable peace can only be achieved with Ukraine at the table," the statement concluded.

Zelensky also posted about their conversation earlier on X, saying that he updated Carney on the war with Russia, while the two also discussed "the prospects of Canada’s G7 presidency this year and our cooperation within the Coalition of the Willing".

"Thank you, Canada, for your support," he wrote. !We are counting on effective cooperation."

Former US Ambassador to Ukraine William Taylor has applauded the deal, telling the BBC the move is a "positive development" for peace.

Perhaps the deal could be used as a "model" for the US to draft a new peace deal between Russia and the Ukraine, he suggests.

"It's a good sign that the Americans will be investing in Ukraine," he says.

But he adds that it must be "complimented by a real security guarantee, with military force [like] the Europeans are talking about".

The process of extracting minerals will take decades, he says. This will send a clear message to Vladimir Putin that the Americans are committed to Ukraine's long-term sovereignty.

He hopes that the deal indicates a reset in the relationship between Trump and Zelensky.

Image source, X/@Svyrydenko_Y

First Deputy Prime Minister Yulia Svyrydenko, who signed the deal on behalf of Ukraine, has listed its provisions on social media.

Posting on X in Ukrainian, she said the deal establishes a reconstruction investment fund to help attract Western investment in Ukrainian projects in minerals, oil and gas.

She says the resources will remain the property of Ukraine, and Kyiv will choose where to do the extracting.

The partnership will be equal, on a 50/50 basis, she says, adding that the agreement includes no debt obligation to the US.

The US will play a role in helping to attract investment and technology to the projects in Ukraine.

In exchange, the US will contribute new assistance to Kyiv, including, for example, air defence systems for Ukraine.

She says the fund's income and contributions will not be taxed by either country.

Svyrydenko says the deal must still be ratified by Ukrainian lawmakers.

The agreement recognises the contributions that Ukraine has made to global security, she writes, thanking everyone who worked to broker the agreement.

Image source, US Treasury Department

We're now seeing photos of the deal being signed by representatives of the US and Ukraine in Washington DC on Wednesday.

The US Treasury Department shared this photo, noting in a post on X: "On April 30, the United States and Ukraine signed an agreement to establish the United States-Ukraine Reconstruction Investment Fund.

"This historic economic partnership clearly signals the Trump Administration’s commitment to a free, sovereign, and prosperous Ukraine."

Image source, X/@Svyrydenko_Y

Ukrainian First Deputy Prime Minister Yulia Svyrydenko has been sharing photos from her visit to Washington DC on Wednesday.

One of her photos includes herself and US Treasury Secretary Scott Bessent, as well as the teams that negotiated the deal on behalf of each country.

"This document is capable of delivering success for both our countries - Ukraine and the United States," she wrote with her post.

"God bless Ukraine and God bless the United States of America."

We've just told you about the signed minerals deal announced by both the Ukrainians and the White House this evening.

We can now bring you more lines from the announcement by the US.

Treasury Secretary Scott Bessent posted a video message announcing the signing of the minerals deal and the establishment of this new US-Ukraine Investment Fund.

"Today's agreement signals clearly to Russian leadership that the Trump administration is committed to a peace process centred on a free, sovereign and prosperous Ukraine over the long term," he said. "It's time for this cruel and senseless war to end."

He added that the US International Development Finance Corporation will work closely with government of Ukraine to establish the fund quickly.

The US and Ukraine sign a deal - but with less fanfare than originally intendedpublished at 23:36 British Summer Time 30 April

23:36 BST 30 April

Tom Bateman
US State Department correspondent

The signing of this deal was announced via a press release emailed out from the US Treasury Department - a far cry from the fanfare originally intended for a ceremony at the White House in February, which ended in acrimony with the Oval Office bust up between Presidents Trump and Zelensky.

Since then, this deal appears to have been significantly renegotiated, as the White House ratcheted up the pressure.

But Zelensky has still managed to eke out key concessions from Washington. An earlier draft of today’s text seen by the BBC says the joint US-Ukraine investment fund will be created to prospect for critical minerals and energy supplies in Ukraine. The revenues will help pay for Ukraine’s reconstruction.

Crucially, the draft says the cost of future US military assistance given to Ukraine will count as part of the American investment in the fund. That means Ukraine will, in effect, be giving Washington access to some of its natural resources in return for future US security assistance.

But that is significantly less than what Trump had wanted, which was to get paid back for all US military assistance given since the start of the war in 2022.

The language of the Treasury Department's announcement shows much more solidarity with Ukraine than is usual for the Trump administration, referring to "Russia's full scale invasion" and adding that "no state or person who financed or supplied the Russian war machine will be allowed to benefit from the reconstruction of Ukraine".

A senior Ukrainian official just posted on X that she has signed an agreement creating a US-Ukraine Reconstruction Investment Fund.

"Together with the United States, we are creating the Fund that will attract global investment into our country," First Deputy Prime Minister Yulia Svyrydenko wrote, alongside a selfie of her in Washington DC.