Ukraine will retain full ownership of all its mineral resources under the agreement with the United States, Ukrainian Deputy Prime Minister and Economy Minister Yulia Svyrydenko has said.
Svyrydenko, who signed the deal in Washington, said the key provisions of the agreement include that all resources on Ukrainian territory and in territorial waters belong to Ukraine.
“It is the Ukrainian state that determines what and where to extract,” she wrote on X. With the fund to be jointly managed by both countries, she added: “Neither side will hold a dominant vote – a reflection of equal partnership between our two nations.”
The fund would attract global investment in Ukraine, Svyrydenko explained: “Importantly, the Agreement sends a signal to global partners that long-term cooperation with Ukraine — over decades — is not only possible but reliable.”
The US is being given privileged access to valuable, rare minerals in Ukraine in exchange for US support in Kyiv’s war against a Russian invasion.
According to Ukrainian Prime Minister Denys Shmyhal, the agreement would establish an equal partnership between the two countries and last for 10 years. Financial contributions to a joint fund would be made in cash, and only new US military aid would count toward the American share.
Assistance provided before the agreement was signed would not be counted. Unlike an earlier draft, the deal would not conflict with Ukraine’s path toward European Union membership — a key provision for Kyiv.
US President Donald Trump has pushed for a deal for months that he says would repay the US for the military and financial support it has provided Ukraine. Talks, however, stalled after a meeting in the Oval Office when Trump and US Vice President JD Vance berated Ukrainian President Volodymyr Zelenskyy for a perceived lack of gratitude on the part of the Ukrainian leader.
The US has sought access to more than 20 raw materials, like titanium, uranium, lithium, graphite and manganese, seen as critical to its interests, including some non-minerals such as oil and natural gas.
