On April 30, Ukraine and the United States signed a pivotal minerals agreement establishing a joint “Reconstruction Investment Fund” aimed at supporting Ukraine’s economic recovery and long-term development. The deal was signed in Washington by Ukraine’s First Deputy Prime Minister Yulia Svyrydenko and U.S. Treasury Secretary Scott Bessent, following months of complex negotiations.
“This document ensures success for both our countries,” said Svyrydenko, emphasizing that the fund marks a strategic investment partnership without compromising Ukraine’s sovereignty over its subsoil, infrastructure, or state-owned enterprises.
The agreement creates a jointly managed fund to which both countries will contribute, using proceeds from newly issued licenses for critical minerals and oil and gas projects. It explicitly excludes revenue from existing projects and does not impose any debt obligations. Additionally, neither Ukraine nor the U.S. will tax the fund’s income or contributions.
Bessent highlighted the deal as a sign of lasting U.S. support, stating, “This agreement signals clearly to Russia that the Trump Administration is committed to a peace process centered on a free, sovereign, and prosperous Ukraine.”
While the deal offers no direct security guarantees, it outlines a long-term strategic alignment and commits the U.S. to help attract further investment and technological support for Ukraine. Importantly, it includes safeguards to prevent individuals or entities linked to Russia’s war machine from benefiting.
Ukrainian Prime Minister Denys Shmyhal praised the agreement, noting it would help drive reconstruction, economic growth, and technology transfer. He confirmed that the deal must now be ratified by Ukraine’s parliament, the Verkhovna Rada.
Despite last-minute tensions reported by the Financial Times, the agreement was finalized, setting the stage for a new phase of U.S.-Ukrainian economic cooperation.
