The US and Ukraine have signed natural resources deal

After months of negotiations, the time had finally come on Wednesday: representatives of the United States and Ukraine signed a minerals agreement.

This natural resources deal gave birth to the so-called "United States-Ukraine Reconstruction Investment Fund", according to a US Treasury Department announcement on Wednesday.

The Ukrainian Minister of Economy Yulia Svyrydenko announced on X that she signed the agreement in Washington on behalf of the Ukrainian government.

"In recognition of the significant financial and material support provided by the people of the United States since the large-scale invasion by Russia, this economic partnership allows our two countries to work and invest together to ensure that our mutual resources, talents, and capacities can accelerate Ukraine's economic recovery", according to the US statement. The department describes this as a “historic” partnership.

What was actually agreed upon?

However, the US statement does not provide specific details about the contents of this agreement, but the Ukrainian Minister of Economy states that the agreement allows "projects for the extraction of minerals, oil, and gas" on Ukrainian territory. "The document in its current form is a guarantee of success for both our countries, Ukraine and the United States", says Minister Svyrydenko on social media. According to her, Ukraine will retain “full ownership and control” over its natural resources.

(SR - Source: NBC/Kyiv Independent/X/Newsblad - Illustration: ©Unsplash)