Historical agreement: US explains what signed deal with Ukraine signals to Russia
Scott Bessent, US Secretary of the Treasury (Photo: Getty Images)
US Treasury Secretary Scott Bessent called the signed agreement with Ukraine to establish a joint Reconstruction Investment Fund a historic economic partnership agreement between the two countries, according to the US Department of the Treasury.
In his statement, the US Secretary announced that on April 30, the US and Ukraine signed an agreement to establish the US-Ukraine Reconstruction Investment Fund. This is referred to as the so-called minerals deal.
Acceleration of Ukraine’s recovery
“In recognition of the significant financial and material support that the people of the United States have provided to the defense of Ukraine since Russia’s full-scale invasion, this economic partnership positions our two countries to work collaboratively and invest together to ensure that our mutual assets, talents, and capabilities can accelerate Ukraine’s economic recovery,” Bessent stated.
According to him, under the leadership of US President Donald Trump, the US Treasury and the US International Development Finance Corporation (DFC) will work together with the Ukrainian government to finalize program governance and advance this vital partnership.
“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,” Bessen said.
Agreement between Ukraine and the US is a signal to Russia
He recalled President Trump’s words about the US commitment to helping end this brutal 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,” the US Secretary’s statement reads.
Bessen also added, for clarity, that neither the state nor any individual who funded or supplied the Russian war machine will be allowed to benefit from Ukraine’s reconstruction.
“Both the United States and the Government of Ukraine look forward to quickly operationalizing this historic economic partnership for both the Ukrainian and American people,” the US Treasury Secretary concluded.
Ukraine and the US sign a subsoil agreement
As previously reported, on the night of May 1, Ukraine’s Economy Minister Yuliia Svyrydenko announced that Kyiv and Washington had signed an agreement on economic cooperation, referred to as the minerals deal, formally titled the US-Ukraine Reconstruction Investment Fund Agreement.
The document was signed by Svyrydenko and US Treasury Secretary Scott Bessent.
Svyrydenko outlined the key points of the agreement:
- Full ownership and control remain with Ukraine.
- Equal partnership between the sides.
- Protection of national assets.
- No debt obligations for Ukraine.
- Alignment with Ukraine’s European integration course.
- The fund will be financed exclusively through revenues from new licenses.
- Targeted legislative amendment.
- US support in attracting additional investment and technology.
- The agreement provides tax guarantees.
Shortly before the announcement of the agreement’s signing, Ukraine’s Prime Minister Denys Shmyhal stated that the government had adopted the necessary decisions to enable the deal with the US on establishing the Reconstruction Investment Fund as part of a future agreement on natural resources.
Shmyhal also noted that the Investment Fund will be financed through contributions from both the US and Ukraine. The Fund’s profits will be reinvested exclusively in Ukraine.
More details on the signing of the US-Ukraine in the article by RBC-Ukraine.
