U.S.-Ukraine Minerals Deal: A New Economic Partnership Amid Conflict

In a significant move, Ukraine and the United States have initiated the first board meeting of a joint investment fund created under a minerals agreement. Prime Minister Yulia Svyrydenko announced this development as part of efforts to support Ukraine's economy and defense amid ongoing conflict with Russia.

The agreement provides the United States with preferential access to Ukrainian minerals in return for investment, an approach intended to revitalize Ukraine's war-impacted economy. Key steps, including selecting committees and an administrator for the fund, were approved at the meeting attended virtually by U.S. Treasury Secretary Scott Bessent.

Highlighting the security assurance that U.S. investments could bring, Svyrydenko emphasized continuing close cooperation with their American counterparts. As discussions on pilot projects proceed, Ukraine is keen to maintain robust relations with the United States, an essential ally against Russian aggression.

(With inputs from agencies.)