Volker: US-Ukraine minerals deal has political, not financial, purpose
Former U.S. Special Representative to Ukraine Kurt Volker said that the agreement between Ukraine and the United States on cooperation in the field of minerals and natural resources is primarily of political importance, and the financial effect of it will not be immediate.
He said this on June 13 at the GLOBSEC-2025 forum in the Czech Republic, Censor.NET reports citing the EP.
Volker reminded that the agreement provides for the creation of a Recovery Fund, which should be filled with new licenses for the extraction of natural resources in Ukraine. At the same time, he emphasized: "The reality is that no money will come into this fund for many years to come."
According to the diplomat, the main function of the agreement is to change the perception of Ukraine in the United States: to show it not as an object of aid, but as a country that will be able to compensate for the costs of its allies in the future.
"The Biden administration spent taxpayer funds without a strategy, which caused outrage among Republicans. Now there is an argument that we have a plan and a way for Ukraine to get this money back," Volker explained.
He emphasized that the financial results of this initiative are possible only after the war is over and significant investments are made in the extractive industry.
Volker also noted that many regions of Ukraine are already safe for foreign investors, and the main barriers are internal problems of the business climate.
"It is necessary to clearly define what exactly hinders economic development and remove these obstacles," he added.
