USA and Ukraine forge landmark mineral resource partnership
The United States and Ukraine have signed a mineral resources agreement that grants Kyiv full ownership of the resources, emphasised Ukraine's Deputy Prime Minister Yulia Svyrydenko.
What do you need to know?
- Agreement between the USA and Ukraine: The United States and Ukraine signed an agreement on mineral resources, marking a new form of American involvement in Ukraine's reconstruction.
- Ukraine's Deputy Prime Minister on the agreement: Kyiv retains full control over its resources, including valuable rare earth minerals.
- Reconstruction Investment Fund: Both parties will establish a joint fund, with profits to be reinvested exclusively in Ukraine.
What are the key elements of the agreement?
The United States and Ukraine have signed a long-awaited mineral resources agreement. According to Donald Trump’s administration, this agreement represents a new form of American involvement in rebuilding Ukraine after the end of military aid.
"This agreement signals clearly to Russia that the Trump administration is committed to a peace process centered on a free, sovereign and prosperous Ukraine over the long term," commented U.S. Treasury Secretary Scott Bessent.
The terms of the negotiated agreement are much more favourable to Ukraine than the initial U.S. proposals and are similar to those President Volodymyr Zelensky was to sign during his February visit to the White House. Contrary to initial U.S. demands, the agreement does not require Ukraine to repay past American military aid with revenues from resource exploitation.
"Full ownership and control remain with Ukraine. All resources on our territory and in territorial waters belong to Ukraine," emphasised Ukraine's Deputy Prime Minister Yulia Svyrydenko in a statement on the X portal.
She added that under the agreement, "t is the Ukrainian state that determines what and where to extract."
"The fund is to be created on a 50-50 basis and will be managed jointly by both Ukraine and the United States. Neither side will hold a dominant vote — a reflection of equal partnership between our two nations," said Svyrydenko.
The Ukrainian Deputy Prime Minister emphasises that the country's national assets are protected in the agreement.
"The agreement does not provide for changes in the privatisation processes or management of state-owned companies - they will continue to belong to Ukraine. Companies like Ukrnafta or Energoatom remain in the property of the state," she noted.
"The agreement does not contain any mention of any debt obligations of Ukraine to the United States. The implementation of the agreement will allow both countries to expand their economic potential through equal cooperation and investment," she added.
According to her, the agreement will help to "send signal to global partners that long-term cooperation with Ukraine — over decades — is not only possible but reliable"
