The United States and Ukraine have signed an agreement that gives the United States access to Ukraine's valuable rare minerals in a contract that they hope to continue American support for Kiev in the war with Russia.
The contract will establish the United-States-Aukraine Reconstruction Investment Fund, which the US Treasury said, “can “collaborative assets, talents and capabilities can work together and invest in ensuring that Ukraine's economic recovery can accelerate.”
U.S. Treasury Secretary Scott Bescent said News Release The agreement “clearly demonstrates Russia that the Trump administration is committed to a peace process centered around Ukraine, which has been free, sovereign and prosperous for a long time.”
Bescent called the establishment of the US-Ukraine Reconstruction Investment Fund a historic economic partnership and believed that President Donald Trump had pushed him to sign as part of an effort to end the war.
“As the president said, the United States is committed to helping to promote the end of this cruel and pointless war,” Bescent said.
Trump has expressed his dissatisfaction with the slow pace of negotiation progress. On April 29, the US State Department retries to get both sides moving faster, warning that in the absence of progress, Washington could step back from consultations.
Ukrainian economy minister and deputy prime minister Yulia Svyrdenko has signed an agreement with Bessent, the Ministry of Finance said. Svyrydenko said the deal “can bring success to our country” and “attracts global investment in our state.” Post on Facebook.
Svyrydenko said investment funds will only be filled with revenue from new licenses. This includes 50% of funding from new licenses for critical materials and oil and gas projects. This will reach Ukrainian budget once the fund is established.
Ukrainian Foreign Minister Andri Sibiha I wrote it on x He had explained to EU foreign policy director Kaja Karas about the mineral agreement between Ukraine and the United States.
“This marks an important milestone in the Ukraine-US strategic partnership aimed at strengthening Ukraine's economy and security,” he said in the post.
Roman Kostenko, a Ukrainian lawmaker and commander of the special forces; I said it at the current time Security guarantee issues related to the US ukrane mineral trade are “still open.”
“Maybe there was a certain nuance that would prevent them from including in the mineral trade, even if it was demand from our side,” he added.
Military assistance?
Ukraine sees it as the key to ensuring access to future US military aid, beyond its financial dimension.
“In addition to direct financial contributions, it may provide new support – for example, the Ukrainian air defense system.” I said in x.
The agreement is constitutionally compliant and will not change Ukraine's European integration course, she added. It also states that all the resources of Ukraine and territory belong to Ukraine, and that only Kiev will decide where and what to extract.
The Ukrainian Cabinet approved the contract on April 30th, empowering Swillidenko to sign it in Washington. This transaction still needs to be ratified by the Ukrainian Parliament before it becomes effective.
A news release from the Treasury said the department and the US International Development Finance Corporation (DFC) will work with the Ukrainian government to finalize governance of the program and advance the partnership.
On Ukrainian television, early April 30th, Ukrainian Prime Minister Dennis Schmichal called the deal “a truly good, equal and beneficial international agreement on co-investment in the development and recovery of Ukraine.”
Shmyhal said on Telegram that each side has a 50% voting right in reconstruction investment funds, and that the fund's profits will be reinvested in Ukraine alone.
Filling important Ukraine concerns, he said Kiev will not be asked to repay billions of dollars of “due” in US arms and other aid since Russia's invasion in February 2022.
Trump explained it in February as a multi-billion dollar rebate for aid that Washington gave to Kiev, saying he wanted to access Ukrainian rare earth materials as a condition for continuing US support in the war.
However, discussions were stalled after a tense, oval office meeting, ending with accusations of Ukrainian President Voldymi Zelensky, Trump and Vice President JD Vance of verbally attacking each other.
The US is seeking access to more than 20 raw materials deemed strategically important to its profits. These include titanium deposits used in the manufacture of aircraft wings and other aerospace manufacturing, and uranium used in nuclear, medical devices and weapons. Ukraine also has lithium, graphite and manganese deposits used in electric vehicle batteries.
Trump said the deal “in theory” means that the US will get more than it has contributed from Ukraine.
“I wanted to be protected,” he said in an interview with Newsnation, adding that he doesn't want to be “silly” by not retrieving money back for investment.
Trump said at a previous cabinet meeting that America's presence would “keep many bad actors away from the country or certainly protect them from the areas we're digging.”
By RFE/RL
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