The agreement was due to be signed in February, but was derailed after Donald Trump's Oval Office clash with Volodymyr Zelensky.

US Treasury Secretary Scott Bessent called the signed agreement with Ukraine to establish a joint Reconstruction Investment Fund a historic economic partnership agreement between the two countries, according to the US Department of the Treasury.

The agreement is intended to give the U.S. access to proceeds from Ukraine’s reserves of minerals and to help fund the rebuilding of Ukraine when the fighting stops.

Vice President JD Vance said Russia and Ukraine both face a “very big gulf” as the two countries make demands to negotiate to end the war. Vance sat for an interview with Fox News Digital,

U.S. and Russian officials continued Ukraine peace discussions Monday as the Kremlin announced a three-day ceasefire during May's Victory Day celebrations.

Ukraine says Russia launched more than 100 drones into Ukraine as pressure remains for a ceasefire deal. This comes as reports emerge of an imminent mineral deal between Ukraine and the U.S. CBS News' Ramy Inocencio reports.