The US Treasury Department on Wednesday announced that both countries signed the agreement. “As the President has said, the United States is committed to helping facilitate the end of this cruel and senseless war,” Treasury Secretary Scott Bessent said in a statement.

“This agreement signals clearly to Russia that the Trump Administration is committed to a peace process centered on a free, sovereign, and prosperous Ukraine over the long term,” Bessent said. “And to be clear, no state or person who financed or supplied the Russian war machine will be allowed to benefit from the reconstruction of Ukraine.”