On Wednesday night the United States and Ukraine signed a long awaited minerals deal in hopes of moving past the war with Russia.
“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 between the United States and Ukraine establishing the United States-Ukraine Reconstruction Investment Fund,” Treasury Scott Bessent released in a statement. “As the President has said, the United States is committed to helping facilitate the end of this cruel and senseless war. 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. 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. 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.”
Economic security is national security. And this deal is a total economic partnership.
— Treasury Secretary Scott Bessent (@SecScottBessent) May 1, 2025
It isn’t just rare earth elements—it’s infrastructure and energy as well. There is an opportunity here for both sides to win. pic.twitter.com/okew6wq1X9
Thursday morning the White House released the details. Here they are in full:
A FIRST-OF-ITS-KIND HISTORIC PARTNERSHIP: Under the leadership of President Donald J. Trump, the US and Ukraine entered into a historic agreement on April 30, launching a first-of-its-kind partnership for the reconstruction and long-term economic success of Ukraine.
From start to finish, this agreement is a fully collaborative partnership between our nations, that both the United States and Ukraine will benefit from.
This partnership represents the United States taking an economic stake in securing a free, peaceful, and sovereign future for Ukraine.
This agreement will also strengthen the strategic partnership between the United States and Ukraine for long-term reconstruction and modernization, in response to the large-scale destruction caused by Russia’s full-scale invasion.
The Treasury Department and the U.S. International Development Finance Corporation (DFC) will work together with the Government of Ukraine to finalize governance and advance this important partnership.
The United States’ DFC will work together with Ukraine’s State Organization Agency on Support Public-Private Partnership, both of which are backed by the full faith and credit of their respective nations.
LONG TERM RETURNS FOR BOTH COUNTRIES: 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
This partnership between the United States and Ukraine establishes a fund that will receive 50% of royalties, license fees, and other similar payments from natural resource projects in Ukraine.
That money will be invested in new projects in Ukraine, which will generate long term returns for both the American and Ukrainian peoples.
As new projects are identified, resources in the fund can be quickly allocated towards economic growth, job creation, and other key Ukrainian development priorities.
Indirect benefits will include a stronger private sector and more robust, lasting infrastructure for Ukraine’s long-term success.
The partnership will be controlled by a company with equal representation of three Ukrainian and three American board members, who will work together through a collaborative process to make decisions for allocation of fund resources, such as investment and distributions.
The partnership will also bring the highest levels of transparency and accountability to ensure that the people of Ukraine and the United States are able to enjoy the benefits of Ukraine’s reconstruction.
Natural resource projects will include minerals, hydrocarbons, and related infrastructure development.
If the United States decides to acquire these resources for ourselves, we will given first choice to either acquire them or designate the purchaser of our choice.
Economic security is national security, and this important safeguard prevents critical resources from falling into the wrong hands.
Importantly, this partnership sends a strong message to Russia – the United States has skin in the game and is committed to Ukraine’s long-term success.
No state, company, or person who financed or supplied the Russian war machine will be allowed to benefit from the reconstruction of Ukraine, including participation in projects supported by fund resources.
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