US‑Ukraine resource pact sends strong signal to Russia
The mineral resources agreement between the United States and Ukraine is a signal to Russia that there is no fundamental difference between the goals of the American and Ukrainian nations, US Treasury Secretary Janet Yellen said on Thursday in an interview with Fox Business Network.
On 1st May, Ukraine announced that it had signed an agreement with the United States on cooperation regarding natural resources and country reconstruction.
US Treasury Secretary Scott Bessent commented on the signing of the agreement on resources on Thursday. He emphasised that its signing is a signal to Russia that there is no fundamental difference between the goals of the American and Ukrainian nations.
Discussions around such an agreement had been ongoing for months. Ukraine was initially unwilling to agree to the conditions presented by the American side regarding participation in extracting Ukrainian resources.
Speaking in February, shortly before the widely publicised meeting with Volodymyr Zelensky ended in disagreement, President Trump highlighted the United States' eagerness to begin exploring and utilising rare earth metals, describing it as a clear sign of serious American engagement in the field.
As recently as April, negotiations between both parties were still focused on finalising the details of the agreement. At the start of the month, Ukrainian Deputy Prime Minister Olha Stefanishyna remarked that the version shared with Ukraine did not entirely align with the country’s position.
US Treasury Secretary on Ukraine: Our goals are the same
The American people don't make any money if Ukrainians don't prosper. So now we are fully aligned in terms of economics. And again, I think this is a strong signal to the Russian leadership, and it gives President Trump the ability to now negotiate with Russia on even a stronger basis.
- This is a total economic partnership. This isn't just rare earth, it's infrastructure, it's energy. So there's the opportunity here for both sides to really win, he added.
Under the agreement, an American-Ukrainian Investment Fund for Reconstruction will be established, which will invest in the mining, energy, and infrastructure sectors. Both sides will jointly manage it, and the funds from the investment will be directed exclusively to Ukraine.
The USA and Ukraine are to make equal contributions to the fund, and in the case of the USA, the value of future military aid will be considered contributions. Ukraine is to contribute half of the revenues from exploiting new resource deposits to the fund.
This is not the only groundbreaking decision by the United States regarding Ukraine that has been made in recent hours. "Kyiv Post" reported on Thursday, that the USA intends to approve the sale of weapons to Ukraine worth at least £37 million. According to the service's sources, the Trump administration was supposed to inform Congress of its decision on Wednesday. This is the first such decision since the beginning of the second term of the US president.
"Crippling" sanctions on Russia. Senator: we have support
On Wednesday, another warning signal to Russia was sent by a close associate of President Trump - Senator Lindsey Graham. - If Russia does not engage in serious negotiations to end the war in Ukraine, the United States is ready to announce new harsh sanctions - he declared.
According to the bill seen by Bloomberg News, the sanctions would include tariffs on imports from countries that buy Russian oil, petroleum products, natural gas, or uranium.
Senator Graham confirmed that he has the support of 72 senators for the bill that would introduce "crippling" sanctions against Russia, as well as tariffs on countries that purchase resources from it - reported Bloomberg.
