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The Ukrainian government has confirmed the signing of a reconstruction and minerals agreement with the United States of America.
The Minister of Economy of Ukraine, First Deputy Prime Minister of Ukraine Yulia Svyrydenko, announced the signing of an agreement on the establishment of the US–Ukraine Reconstruction Investment Fund on 1 May this year.
The agreement was signed by US Secretary of the Treasury Scott Bessent and agreed upon by Ukrainian President Volodymyr Zelenskyy and American President Donald Trump.
“Together with the United States, we are creating an investment fund for the reconstruction of Ukraine that will attract global investment into our country,” Svyrydenko said.
“I thank both presidents for their leadership. I am also deeply grateful to everyone who contributed to this agreement and helped make it more substantial.
“We have shaped an agreement that provides mutually beneficial conditions for both countries. It is an agreement that reaffirms the US commitment to Ukraine’s security, recovery and reconstruction.”
Key provisions of the agreement include that full ownership and control will remain with Ukraine for all resources on territory and in territorial waters; as well as determining what and where extraction is made.
In addition, the fund will be structured on an equal basis and jointly managed by Ukraine and the United States.
The agreement also includes no provisions regarding any Ukrainian debt obligations to the United States, reportedly does not alter management of state-owned companies and directs fund revenues and contributions will not be taxed in either the United States or Ukraine.
Ukrainian ambassador to Australia and New Zealand Vasyl Myroshnychenko confirmed the signing of the agreement.
“Ukraine jointly with the United States are creating the fund that will attract global investment into Ukraine’s rebuild and recovery.”
