KYIV — In a significant development for both nations, the United States and Ukraine have established a new reconstruction and investment fund aimed at enhancing economic collaboration. This fund will provide the U.S. with access to Ukraine’s critical mineral reserves and natural resources.
The agreement is also designed to offer Ukraine implicit security guarantees. This measure is crucial as the country seeks to protect itself against any future aggression from Russia, particularly while it continues to recover from over three years of intense conflict due to Russia’s full-scale war.
Ukrainian Economy Minister Yulia Svyrydenko, who traveled to Washington to finalize the deal on Wednesday, praised this agreement as a vehicle to draw global investment to Ukraine.
In a Facebook post, she stated, “This version of the agreement provides mutually beneficial conditions for both countries. The United States is noting its commitment to promoting long-term peace in Ukraine while also acknowledging Ukraine’s significant contribution to global security through the disarmament of its nuclear arsenal.”
Her remarks referred to a U.S.-brokered deal in the aftermath of the Soviet Union’s dissolution, which required Ukraine to transfer its nuclear weapons to Russia in exchange for international security protections.
Accentuating the significance of the partnership, Treasury Secretary Scott Bessent described the agreement as a “historic economic partnership.”
He emphasized, “The United States is committed to helping facilitate the end of this cruel and senseless war.”
The White House fact sheet outlined that the newly formed fund will consist of three board members from each country, effectively creating an equal governance structure.
As part of this collaboration, both nations will receive half of the royalties, license fees, and other revenues generated from natural resource projects conducted in Ukraine. Notably, the United States will retain the first right of refusal regarding the purchase of these resources or the designation of a buyer, according to the White House.
Former President Trump has repeatedly expressed admiration for Ukraine’s rare earth metals, which play a pivotal role in the manufacturing of batteries and various advanced technologies.
Beyond just minerals, the White House noted that the investment projects would encompass hydrocarbons, including oil and gas, as well as the development of related infrastructure.
CEO of DTEK, Ukraine’s energy provider, Maxim Timchenko, commented on the significance of the reconstruction fund. He described it as a “substantial step forward for the country’s recovery from war” and as a catalyst for private investment in a nation blessed with some of Europe’s largest untapped reserves.
Ukrainian Prime Minister Denys Shmyhal further articulated the fund’s structure. He indicated that it would be a 50-50 partnership with the U.S., specifically aimed at both Ukraine’s reconstruction and development initiatives.
Importantly, Shmyhal clarified that Ukraine would retain the authority to determine the extraction sites and resources while ensuring that the deal does not impose any debt obligations on Ukraine to the U.S.
While past discussions included suggestions from President Trump that the arrangement might serve to reimburse the U.S. for financial aid previously extended to Ukraine, a senior official from the Trump administration confirmed that the new agreement would not impose debt obligations.
“This is not a debt-line agreement that has so often dominated international financial decision-making,” the official stated, speaking anonymously to discuss intricate details.
According to Volodymyr Landa, a senior economist at Kyiv’s Centre for Economic Strategy, this deal holds the potential to mend relations between Ukraine and the U.S.
He remarked, “Ideally, the agreement could restore constructive relations between our two countries by defining the format of further U.S. military and financial support to Ukraine.”
The deal is viewed as a diplomatic win for Ukraine, particularly in light of previous tense negotiations with the Trump administration. In February, Trump reportedly pressured President Volodymyr Zelenskyy to sign a less advantageous agreement.
Zelenskyy rebuffed Trump’s offer, deeming it would entrap future generations of Ukrainians in debt. Tensions escalated when both the President and Vice President publicly chastised Zelenskyy.
However, a recent face-to-face meeting occurred between the two leaders at Pope Francis’ funeral in Rome. After the meeting, Zelenskyy referred to it as a “good meeting,” while a White House communications director noted that their discussions were productive, with more details to be released.
The newly established fund is still pending approval from Ukraine’s parliament, marking a crucial step in formalizing this historical economic collaboration.
image source from：https://www.npr.org/2025/04/30/nx-s1-5382384/ukraine-us-minerals-deal
