U.S. and Ukraine Sign Mineral Agreement, Jointly Invest in Post-War Reconstruction | WPN World People News

On April 30, the U.S. Department of the Treasury issued a statement announcing that Treasury Secretary Scott Bessent and Ukraine’s First Deputy Prime Minister and Minister of Economy, Yulia Svyrydenko, had officially signed an agreement. The two countries will jointly invest in Ukraine’s mineral resources, including oil, natural gas, and other natural assets. The agreement establishes the "U.S.-Ukraine Reconstruction Investment Fund," aimed at enabling "both countries to collaborate and co-invest to ensure that our shared assets, talents, and capabilities accelerate Ukraine’s economic recovery."

While the latest version of the agreement does not provide Ukraine with any specific security guarantees, it does affirm that Kyiv and Washington agree the pact confirms a "long-term strategic alliance" between the two nations and underscores the U.S. commitment to "Ukraine’s security, prosperity, reconstruction, and integration into the global economic framework." The agreement makes no mention of Europe’s largest nuclear power plant, Zaporizhzhia.

An earlier version of the agreement, submitted by Bessent to Ukrainian President Volodymyr Zelenskyy in February, was rejected. That version framed the deal as a way for Washington to recoup the costs of military aid to Ukraine and lacked assurances regarding Ukraine’s future security. After revisions, a preliminary version was scheduled for signing during Zelenskyy’s visit to the U.S. in February. However, those plans were derailed when Donald Trump and Vice President JD Vance harshly criticized Zelenskyy during a live media event.

The latest draft adjusts several key aspects from previous versions, including changes in language and the removal of provisions that would have violated EU laws by offering preferential treatment to U.S. investors. Additionally, it eliminates the clause that previously required Ukraine to repay the U.S. for past military aid.

According to AFP, Ukrainian Prime Minister Denys Shmyhal said on state television that the agreement is "fair, equal, and mutually beneficial." He emphasized that "the two countries will establish a reconstruction investment fund, with each side holding 50% of the voting rights. All profits from the fund will be reinvested into Ukraine." He also stressed that "Ukraine retains full control over its underground resources, infrastructure, and natural assets," and will not be required to repay any "debt" stemming from the billions of dollars in weapons and other aid the U.S. has provided since Russia’s full-scale invasion in February 2022.