US, Ukraine sign critical minerals deal after complex negotiations
Baku, May 1, AZERTAC
The United States and Ukraine have signed a critical minerals deal following months of challenging negotiations, Anadolu Agency reports citing the US Treasury Department.
"On April 30, the United States and Ukraine signed an agreement to establish the United States-Ukraine Reconstruction Investment Fund," the department said in a statement.
It said the economic partnership would allow the two countries to work collaboratively to accelerate Ukraine's economic recovery, highlighting Washington's "significant financial and material support" to Kyiv since the war with Russia began in 2022.
The Treasury Department and the US International Development Finance Corporation will work with the Ukrainian government to finalize program governance, according to the announcement.
Treasury Secretary Scott Bessent praised President Donald Trump's role in the agreement.
"Thanks to President Trump's tireless efforts to secure a lasting peace, I am glad to announce the signing of today's historic economic partnership agreement."
"Both the United States and the Government of Ukraine look forward to quickly operationalizing this historic economic partnership for both the Ukrainian and American people," the statement said.
Ukraine's Economy Minister Yulia Svyrydenko confirmed the signing of the agreement. In a post on Facebook, she thanked the leaders of the two countries and everyone who contributed to its realization.
Svyrydenko said the fund would then be used to invest in projects to extract useful fossil fuels and oil and gas, as well as in related infrastructure or recycling projects to be jointly decided by the two countries.
She emphasized that the fund can only invest inside Ukraine.
Svyrydenko said this version of the agreement is mutually beneficial for both countries.
She said the agreement demonstrates the US commitment to Ukraine's security, recovery and reconstruction.
Other news in this section
