The two countries have agreed to establish a joint “reconstruction” investment fund.
Ukrainian Economy Minister Yuliya Sviridenko signs a memorandum with the US regarding Ukraine’s rare minerals in Kyiv on April 18, 2025. © Ukrainian Ministry of Economy / Anadolu Agency / Getty Images
Ukraine and the United States signed an agreement on Wednesday that will direct a portion of the revenues from the development of Ukraine’s natural resources into a joint investment fund.
Kiev hopes the deal will incentivize US President Donald Trump to maintain military and financial aid amid its ongoing conflict with Russia. The US has been attempting to broker a ceasefire since February, as Ukrainian leader Vladimir Zelensky and other top officials in Kiev have accused the Trump administration of promoting “pro-Russian” narratives.
The two sides initially planned to sign the agreement in February, but the deal collapsed at the last minute after a meeting between Trump and Zelensky devolved into a heated argument. According to reports, US officials had originally pushed for a 50% American ownership of Ukraine’s rare-earth minerals – an offer Zelensky rejected at the time.
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30 April 2025
23:20 GMT
US Treasury Secretary Scott Bessent said that the agreement will “allow the United States to invest alongside Ukraine, unlock Ukraine’s growth assets, mobillize American talent, capital and governance standards that will improve Ukraine’s investment climate and accelerate Ukraine’s economic recovery.”
Thanks to @POTUS@realDonaldTrump’s tireless efforts to secure a lasting peace, I am glad to announce the signing of today’s historic economic partnership agreement between the United States and Ukraine establishing the United States-Ukraine Reconstruction Investment Fund to help… pic.twitter.com/N1jPa35DYh
— Treasury Secretary Scott Bessent (@SecScottBessent) April 30, 2025
- 23:10 GMT
Although the full text has not been made public, Ukrainian Economy Minister Yuliya Sviridenko said that 50% of the revenue from new licenses in the fields of critical materials, oil, and gas will be directed to the United States–Ukraine Reconstruction Investment Fund.
She stated that the fund will be jointly managed “on a 50/50 basis,” and that “neither side will hold a dominant vote.” Sviridenko emphasized that Ukraine retains “full ownership and control” over all of its natural resources, as well as its state-owned energy companies.
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