US not to get assets ownership: Details of the deal with Ukraine
US Treasury Secretary Scott Bessent (photo: Getty Images)
The United States will invest in Ukraine without taking ownership of its assets and without creating a new debt burden. This approach should ensure mutual benefits from the rare earths agreement for both countries, said the US Treasury Secretary Scott Bessent in his article for the Financial Times.
The US Treasury Secretary noted that even though much has been reported about the economic partnership that US President Donald Trump has offered his Ukrainian counterpart Volodymyr Zelenskyy, much of it has been distorted or simply untrue.
"So I welcome this opportunity to explain how this partnership will benefit both our countries," he said.
According to him, US President Donald Trump's innovative approach represents a new model of productive international partnership.
"Let's also be clear about what it is not. The United States will not acquire ownership of physical assets in Ukraine. They will also not burden Ukraine with new debts," he emphasized.
According to Bessent, the type of economic pressure applied by other global players would not serve either American or Ukrainian interests.
"To create more value in the long run, the US should invest with the people of Ukraine so that both sides are interested in getting the most out of it," he concluded.
Revenues will be directed to the reconstruction fund of Ukraine
The head of the Ministry of Finance noted that the terms of the joint partnership stipulate that the revenues received by the Ukrainian government from natural resources, infrastructure, and other assets will be directed to a fund focused on the long-term reconstruction and development of Ukraine.
At the same time, the United States will have economic and management rights in these future investments.
Bessent noted that while in Kyiv he met with many American companies that have been operating in Ukraine for many years.
"And I spoke with many others who are ready to support the Ukrainian economy through a just and lasting peace," he said.
The terms of this partnership mobilize American talent, capital, high standards, and governance to accelerate Ukraine's recovery and send a clear message to Russia that the United States is invested in a free and prosperous Ukraine for the long term.
Moreover, he said, proceeds from future revenue streams will be reinvested in key sectors aimed at unlocking more assets that contribute to Ukraine's growth.
The terms of this agreement also ensure that countries that did not help protect Ukraine's sovereignty will not benefit from its recovery or these investments.
Earlier today, the speaker of the Ukrainian parliament, Ruslan Stefanchuk, said that the Ukrainian government would start working in earnest on a minerals agreement and security guarantees with the Trump administration early next week.
Agreement on rare earth metals
US Treasury Secretary Scott Bessent recently visited Kyiv to present a draft agreement with Ukraine on rare earth metals.
It's worth noting that President Zelenskyy admitted that the agreement could be signed in a few days at the Munich Security Conference, but this has not happened yet.
Against this background, American officials began to express dissatisfaction. In particular, US Presidential Advisor Michael Waltz said he was "disappointed" with Donald Trump.
For his part, the Ukrainian president noted that the agreement did not mention security guarantees for Ukraine, but only that the United States wanted to gain control over 50% of certain resources.
However, on February 20, Axios wrote that the Administration of US President Donald Trump handed over an improved version of the rare earth metals agreement to Ukraine.
