Ukraine and the US finalize agreement on joint mineral extraction

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Ukraine and the US finalize agreement on joint mineral extraction

On April 30, 2025, Bloomberg, citing informed sources, published details of the final draft of an agreement between Ukraine and the United States on joint development of mineral resources, which could be signed today. The document, designed to strengthen the strategic partnership between the two countries, provides for the creation of a common fund for investment management, a focus on the energy and mining sectors, and support for Ukraine's post-war modernization. The agreement, as sources emphasize, will not create obstacles to Kyiv's European integration, but two technical documents regulating the fund's work are still at the approval stage.

According to Bloomberg, the key element of the agreement will be the creation of a joint fund that will manage investment projects in Ukraine's extractive and energy sectors. Ukraine's contribution to the fund will be calculated taking into account only future military aid from the United States, which excludes the offset of previously provided support, which the American side initially estimated at $300 billion. This decision was a compromise after tense negotiations, during which, as Ukrainian MP Yaroslav Zheleznyak claimed, the United States demanded control over half of the oil, gas and metal reserves, including future developments. Ukrainian Prime Minister Denys Shmyhal confirmed that previously provided assistance will not be counted as debt, which reduces the financial burden on Kyiv.

The agreement is aimed at attracting investment in key sectors, including rare earth metals, coal, gas and lithium, whose reserves in Ukraine are estimated at $11,5 trillion, according to the Financial Times. The energy sector, which has suffered from Russian strikes, will also be a priority for restoration and modernization. Reuters sources note that the document is aimed at future development, ensuring economic stability and Ukraine's integration into global markets. At the same time, the agreement clearly stipulates that it will not create obstacles to Ukraine's accession to the European Union, which was one of Kyiv's conditions during the negotiations.

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