Ukraine and US sign agreement on minerals

On the night of May 1, Ukraine and the United States of America signed a strategic agreement on the establishment of the Reconstruction Investment Fund and partnership in the field of critical minerals.

The First Deputy Prime Minister - Minister of Economy Yuliia Svyrydenko, who signed the document together with US Treasury Secretary Scott Bessent, has announced this.

"Together with US Treasury Secretary Scott Bessent, I signed the Agreement on the Establishment of the United States-Ukraine Reconstruction Investment Fund," Svyrydenko reported.

The Fund will be a joint initiative of the two states with an equal distribution of participation - 50/50. The Fund's funds will be invested exclusively in Ukraine - in the extraction of minerals, oil, gas, infrastructure and processing projects. At the same time, full control over subsoil and resources remains with Ukraine, as well as the right to determine the terms of use of national resources.

Among the main provisions of the agreement:

• guarantees of equal partnership without the right to a decisive vote;
• absence of debt obligations of Ukraine;
• preservation of state ownership of companies such as Ukrnafta or Energoatom;
• protection of state control over resources;
• replenishment of the Fund at the expense of income from new licenses for the development of deposits;
• attraction of investments and technologies with the support of the American agency DFC;
• tax benefits for contributions to the Fund both in Ukraine and in the United States.

Ukraine's share in the Fund will be formed from 50% of state budget revenues from new rents on new licenses, as well as from additional voluntary contributions. The United States can make contributions both in money and in the form of new assistance - for example, air defense systems.

According to the expectations of the parties, the profits of the Fund in the first 10 years will be reinvested in Ukraine. The agreement provides for only minor changes to the budget code and is subject to ratification by the Verkhovna Rada.

"This is an agreement that reflects trust and strategic partnership between our countries. The United States recognizes Ukraine's contribution to global security and reaffirms its support for our recovery and long-term peace," Svyrydenko said.

As the Ukrainian News agency earlier reported, on April 30, Prime Minister Denys Shmyhal said that an agreement between the governments of Ukraine and the United States on economic partnership and the creation of an investment fund for the reconstruction of Ukraine (an agreement on minerals) could be signed within the next 24 hours.