The United States and Ukraine have reached a deal to create a reconstruction and investment fund that will give the U.S. access to Ukraine’s reserves of critical minerals and natural resources.
The White House said the fund will be governed by three board members from each country, where each country will receive half of royalties, license fees and other proceeds from national resource projects in Ukraine. The United States will have first right of refusal on buying the resources, or designating the buyer, according to the White House fact sheet.
U.S. Treasury Secretary Scott Bessent and Ukrainian First Deputy Prime Minister Yulia Svyrydenko were shown signing the agreement in a photo posted on X (formerly Twitter) by the Treasury, which said the deal “clearly signals the Trump Administration’s commitment to a free, sovereign, prosperous Ukraine.”
Svyrydenko noted Ukraine has no debt obligations to the United States under the agreement, a key point in the lengthy negotiations between the two countries. The deal also complied with Ukraine’s constitution and its campaign to join the European Union.
Ukraine is rich in natural resources including rare earth metals, and has large reserves of iron, uranium and natural gas.