The United States and Ukraine have signed an agreement to create a “reconstruction investment” fund, both governments confirmed on Wednesday in Washington.
Specific details of the agreement are yet to be released by the US, but it is believed the agreement gave Washington privileged access to Ukrainian resources, which are crucial for high-tech industries.
However, Ukrainian Deputy Prime Minister and Economy Minister Yulia Svyrydenko has said Ukraine would retain full ownership of all its mineral resources in the agreement with the US.
Meanwhile, Trump said on Wednesday evening on NewsNation that the deal, “in theory,” means the US will get more from Ukraine than it contributed.
“I wanted to be protected,” he said, adding that he didn’t want to look “foolish” by not getting money back for US aid to Ukraine.
Ukraine to maintain control of resources in its territory
Svyrydenko, who signed the deal in Washington, said the fund would be jointly managed by both countries, with Svyrydenko writing on X: “It is the Ukrainian state that determines what and where to extract.”
She added: “Neither side will hold a dominant vote — a reflection of equal partnership between our two nations.”
US: Deal shows commitment to ‘peace process’ to Russia
Meanwhile, Secretary of the Treasury Scott Bessent said the US was committed to helping facilitate the end of the war, following Russia’s full-scale invasion of Ukraine in 2023.
“This agreement signals clearly to Russia that the Trump Administration is committed to a peace process centered on a free, sovereign, and prosperous Ukraine over the long term,” he said.
The US Treasury said on its website that the economic partnership would allow the two countries “to work collaboratively and invest together to ensure that our mutual assets, talents, and capabilities can accelerate Ukraine’s economic recovery.”
Trump wanted fair compensation for US support of Ukraine
US President Donald Trump’s return to office in January 2025 saw him push to end the war between Ukraine and Russia, but he has also complained that Kyiv was not providing sufficient compensation for the military and financial support it has received and insisted that Washington get more in return.
“President Trump envisioned this partnership between the American people and the Ukrainian people to show both sides’ commitment to lasting peace and prosperity in Ukraine,” Bessent said.
“And to be clear, no state or person who financed or supplied the Russian war machine will be allowed to benefit from the reconstruction of Ukraine.”
The Ukrainian parliament will still have to ratify the agreement before it can come into force.
Negotiations on the deal had been on the verge of collapse after a historic row in the White House between Ukrainian President Volodymyr Zelenskyy and US President Trump in February.
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Edited by: Sean Sinico
