The two countries signed the agreement in Washington after months of tense negotiations
The US and Ukraine have signed a long-awaited minerals deal under which a a joint reconstruction investment fund will be established.
“In recognition of the significant financial and material support that the people of the United States have provided to the defense of Ukraine since Russia’s full-scale invasion, this economic partnership positions our two countries to work collaboratively and invest together to ensure that our mutual assets, talents, and capabilities can accelerate Ukraine’s economic recovery,” the US Treasury Department said.
Ukraine’s First Deputy Prime Minister Yulia Svyrydenko said: “Now the document is such that it can ensure success for both our countries — Ukraine and the United States.”
In a post on X she wrote: “Together with the United States, we are creating the Fund that will attract global investment into our country.
“Its implementation allows both countries to expand their economic potential through equal cooperation and investment.
“The United States will contribute to the fund. In addition to direct financial contributions, it may also provide NEW assistance — for example air defense systems for Ukraine.”
A draft of the minerals agreement seen by the Reuters news agency gave the US preferential access to new Ukrainian natural resources deals but did not automatically hand Washington a share of Ukraine’s mineral wealth or any of its gas infrastructure.
It provided for creation of a joint US-Ukrainian fund for reconstruction which will receive 50% of profits and royalties accruing to the Ukrainian state from new natural resources permits in Ukraine.
This is a breaking news story and will be updated