Ukraine has signed an agreement that will give the United States priority access to new Ukrainian mining contracts and finance investments in Ukraine’s reconstruction, Reuters reports.
The deal was signed the day before, and, as the agency notes, there was uncertainty until the last moment. In particular, the US special representative for Ukraine and Russia, Keith Kellogg, reported that the deal was postponed due to difficulties with the translation of documents.
The agreement envisages the creation of a joint investment fund for the reconstruction of Ukraine. The US Finance Ministry published a joint photo of the head of the ministry together with Ukrainian First Deputy Prime Minister Yuliya Sviridenko at the moment of signing. The report notes that the deal “clearly demonstrates the Trump administration’s commitment to a free, sovereign and prosperous Ukraine.”
Sviridenko emphasized that the agreement allows Ukraine “to determine for itself what and where to extract” and that the subsoil remains in Ukraine’s ownership. She also emphasized that Ukraine has no debt obligations to the U.S. under the agreement, which was a key point during the lengthy negotiations. She said the agreement was in line with Ukraine’s constitution and the country’s intentions to join the European Union.
According to Reuters, which familiarized itself with a draft of the document the day before, Ukraine managed to get the exclusion of the requirement to return funds to the USA for past military aid. At the same time, the draft did not contain specific security guarantees for Ukraine from the USA.
This agreement seems to be a significant step in strengthening economic cooperation between Ukraine and the United States, especially in terms of reconstruction and resource management. It’s notable that Ukraine retains ownership of its subsoil, which addresses common concerns about sovereignty in such deals. However, the absence of specific security guarantees from the US might leave some uncertainty regarding broader protection, especially given ongoing regional tensions. Overall, the balance between investment, sovereignty, and security will be critical to watch as this partnership develops.