US‑Ukraine mineral pact aims to boost reconstruction efforts
The US and Ukraine signed a letter of intent online on Thursday concerning an agreement for the US to exploit Ukrainian mineral deposits, announced Ukraine's First Deputy Prime Minister and Minister of Economy, Yulia Svyrydenko.
"We are happy to announce the signing, with our American partners, of a Memorandum of Intent, which paves the way for an Economic Partnership Agreement and the establishment of the Investment Fund for the Reconstruction of Ukraine," Svyrydenko wrote on platform X.
Svyrydenko did not disclose specifics of the memorandum, mentioning only that work is ongoing on the final text of the agreement.
We hope that the Fund will become an effective tool for attracting investments in the reconstruction of our country, modernisation of infrastructure, support for business, and the creation of new economic opportunities, Svyrydenko emphasised.
She expressed hope that the final document would be "very beneficial for both countries."
Signing of the agreement
AFP notes that Kyiv and Washington planned to sign the minerals agreement a few weeks ago, but it was delayed by a turbulent meeting in February between Donald Trump and Volodymyr Zelensky at the White House.
Trump believes that the agreement, which is intended to allow American companies access to Ukrainian rare earth metal deposits, should serve as a sort of payment for the assistance provided to Ukraine during Joe Biden's presidency.
Americans also believe that the presence of US companies in Ukraine will be an additional deterrent to Russia from further aggression after a possible ceasefire agreement is reached.
Meanwhile, Kyiv insists that any future agreement to end the war should also include specific security guarantees for Ukraine.
