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4mo ago

US and Ukraine Sign Landmark Minerals Deal to Fund Reconstruction

The agreement establishes a joint investment fund, granting the US preferential access to new Ukrainian mineral permits while ensuring Ukraine retains sovereignty over its resources.

Zelensky and Trump have had a fraught relationship, but may have buried the hatchet over a new minerals deal.
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Ukrainian President Volodymyr Zelensky meets with US President Donald Trump on the sidelines of Pope Francis's funeral at St. Peter's Basilica in The Vatican on April 26th 2025
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Overview

  • The deal creates a 50/50 Reconstruction Investment Fund, financed by future US aid and half of Ukraine's royalties from new mineral permits.
  • Ukraine retains full sovereignty over its subsoil and extraction decisions, with fund profits reinvested exclusively in its recovery.
  • The US secures preferential, but not exclusive, access to new mineral permits, excluding existing contracts and gas infrastructure.
  • Ukraine is not required to repay past US military aid; only future assistance counts as contributions to the joint fund.
  • The agreement reflects a strategic shift in US-Ukraine relations, focusing on economic partnership after the end of direct military aid.