Minerals deal reflects U.S. interest in Ukraine’s sovereign future – White House STATEMENT
The signing of the minerals agreement with Ukraine reflects the United States’ interest in a sovereign and secure future for the country. The document launches the first-ever partnership aimed at Ukraine’s recovery and long-term economic success.
This was stated in the White House’s announcement regarding the agreement between Ukraine and the United States, Censor.NET reports.
"Under the leadership of President Donald J. Trump, the US and Ukraine entered into a historic agreement on April 30, launching a first-of-its-kind partnership for the reconstruction and long-term economic success of Ukraine," the statement reads.
The document emphasizes that the agreement represents a fully joint partnership between the two countries, benefiting both the United States and Ukraine.
"This partnership represents the United States taking an economic stake in securing a free, peaceful, and sovereign future for Ukraine," the White House statement reads.
It emphasizes that the agreement will also strengthen the strategic partnership between the United States and Ukraine, aimed at long-term reconstruction and modernization in response to the extensive destruction caused by Russia’s full-scale invasion.
"The Treasury Department and the U.S. International Development Finance Corporation (DFC) will work together with the Government of Ukraine to finalize governance and advance this important partnership. The United States’ DFC will work together with Ukraine’s State Organization Agency on Support Public-Private Partnership, both of which are backed by the full faith and credit of their respective nations," the White House added.
The U.S. side also outlined the long-term benefits of the agreement for both countries.
"President Trump envisioned this partnership between the Americans and the Ukrainians to show both sides’ commitment to lasting peace and prosperity in Ukraine," the statement emphasized.
The White House noted:
- This partnership between the United States and Ukraine establishes a fund that will receive 50% of royalties, license fees, and other similar payments from natural resource projects in Ukraine. That money will be invested in new projects in Ukraine, which will generate long term returns for both the American and Ukrainian peoples.
- As new projects are identified, resources in the fund can be quickly allocated towards economic growth, job creation, and other key Ukrainian development priorities.
- Indirect benefits will include a stronger private sector and more robust, lasting infrastructure for Ukraine’s long-term success.
- The partnership will be controlled by a company with equal representation of three Ukrainian and three American board members, who will work together through a collaborative process to make decisions for allocation of fund resources, such as investment and distributions.
- The partnership will also bring the highest levels of transparency and accountability to ensure that the people of Ukraine and the United States are able to enjoy the benefits of Ukraine’s reconstruction.
- Natural resource projects will include minerals, hydrocarbons, and related infrastructure development.
- If the United States decides to acquire these resources for ourselves, we will given first choice to either acquire them or designate the purchaser of our choice.
It is noted that economic security is national security, and this crucial safeguard prevents critical resources from falling into the wrong hands.
"Importantly, this partnership sends a strong message to Russia – the United States has skin in the game and is committed to Ukraine’s long-term success," the White House statement says.
"No state, company, or person who financed or supplied the Russian war machine will be allowed to benefit from the reconstruction of Ukraine, including participation in projects supported by fund resources., the White House emphasized."
Earlier, U.S. Treasury Secretary Scott Bessent said that the agreement between Ukraine and the United States on cooperation in the field of minerals opens a new level of economic partnership.
To recap, Ukrainian Economy Minister Yuliia Svyrydenko and U.S. Under Secretary of the Treasury Scott Bessent signed the agreement establishing the U.S.-Ukraine Recovery Investment Fund.
U.S. President Donald Trump stated that the United States could gain over $350 billion as a result of the mineral resources agreement.
