US, Ukraine Reach Agreement on Rare Minerals, Reconstruction Fund

The United States and Ukraine have signed an agreement focusing on providing the US access to Ukrainian rare minerals and establishing a joint fund for reconstruction efforts in Ukraine, Al Jazeera reports.

The accord, finalized on Wednesday in Washington, D.C., follows months of negotiations.

US Treasury Secretary Scott Bessent announced the agreement, highlighting the creation of the United States-Ukraine Reconstruction Investment Fund. He stated that the fund signals the US commitment to a peaceful and prosperous future for Ukraine. Further details regarding the specifics of the agreement were not immediately provided by the US administration.

According to Ukraine’s Ministry of Economy, the US contribution to the fund will be facilitated either directly or through military assistance. Ukraine will contribute 50 percent of the revenues generated from the exploitation of its natural resources. The ministry stated that all resources within the fund will be exclusively invested in Ukraine for the first decade, after which profit distribution between the two countries will be considered.

The agreement stipulates that both the US and Ukraine will maintain equal decision-making power over the fund. The Ministry of Economy further clarified that the agreement applies only to future US military assistance, excluding any previous aid provided to Ukraine.