Ukraine and U.S. Forge Strategic Minerals Fund Deal

Ukraine and the United States are taking significant steps to operationalize a minerals fund by the end of this year. During discussions in Washington, Ukraine's First Deputy Prime Minister Yulia Svyrydenko highlighted plans for the fund's inaugural meeting in July.

Negotiations for the development of Ukraine's mineral resources culminated in an agreement in April, heavily promoted by U.S. President Donald Trump. Ukraine's parliament has since ratified the agreement, allowing the initiative to proceed.

At meetings with U.S. Treasury Secretary Scott Bessent and the Development Finance Corporation, Svyrydenko outlined concrete steps to ensure the fund's functionality, including decisions on seed capital and multi-year investment strategies. The successful agreement marks an essential milestone in Ukraine-U.S. relations, even following strained exchanges between President Trump and Ukrainian President Volodymyr Zelenskiy.

(With inputs from agencies.)