US, Ukraine Sign Critical Minerals Deal: Bessent

Treasury Secretary Scott Bessent Wednesday, announced the signing of an agreement to establish the United States-Ukraine Reconstruction Investment Fund. This economic partnership aims to accelerate Ukraine's economic recovery by leveraging mutual assets, talents, and capabilities.

Under the agreement, the U.S. International Development Finance Corporation will work closely with the Government of Ukraine to establish the fund quickly. The deal includes provisions for developing Ukraine's vast natural resources, including critical elements and minerals vital to modern technologies.

Bessent in a videomessage said that the 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.

"Thanks to @POTUS @realDonaldTrump’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 to help accelerate Ukraine’s economic recovery," Bessent wrote on X. "Economic security is national security. @DFCgov will work closely with the Government of Ukraine to establish this fund, and we look forward to quickly operationalizing this historic economic partnership for both the Ukrainian and American people."

Ukrainian Minister of the Economy Yulia Svyrydenko who signed the agreement on behalf of Ukraine and highlighted the importance of attracting global investment into Ukraine.

"On behalf of the Government of Ukraine, I signed the Agreement on the Establishment of a United States–Ukraine Reconstruction Investment Fund," Svyrydenko wrote on X. "Together with the United States, we are creating the Fund that will attract global investment into our country."

Both countries will have equal partnership in the fund, with neither party having a majority vote, reflecting an equal partnership between Ukraine and the United States.

The agreement emphasizes that no state or person who financed or supplied the Russian war machine will be allowed to benefit from the reconstruction of Ukraine.

The economic partnership agreement is expected to be operationalized quickly to support Ukraine's economic recovery and development.

The agreement was signed after months of negotiations and was originally intended to be finalized during a February ceremony at the White House, which ended in tension between Presidents Trump and Zelenskyy. However, the deal was renegotiated and signed Wednesday.