The United States and Ukraine signed a resource agreement on Wednesday, establishing the 'United States-Ukraine Reconstruction Investment Fund,' according to the US Treasury Department.
"This economic partnership positions our two countries to work collaboratively and invest together to ensure that our mutual assets, talents, and capabilities can accelerate Ukraine's economic recovery," reads a statement by the US Treasure Department.
US Treasury Secretary Scott Bessent stated that "the United States is committed to helping facilitate the end of this cruel and senseless war." He added that the agreement "signals clearly to Russia that the Trump Administration is committed to a peace process centred on a free, sovereign and prosperous Ukraine over the long term."
According to Bessent, "no state or person who financed or supplied the Russian war machine will be allowed to benefit from the reconstruction of Ukraine."
While the American statement does not provide many details about the content of the agreement, the Ukrainian Minister of Economy, Yulia Svyrydenko, says that the agreement allows for "projects for the extraction of minerals, oil and gas" on Ukrainian territory.
"The document in its current form is a guarantee of success for both our countries, Ukraine and the United States," Minister Svyrydenko said on Facebook. In her view, Ukraine will retain "full ownership and control" over its natural resources.
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Negotiations for this agreement began in February but stalled largely due to a public dispute between President Trump and Ukrainian President Volodymyr Zelenskyy at the White House.
The signing could represent a significant breakthrough in the stalled peace talks between Ukraine and Russia. The US has repeatedly threatened to withdraw from the negotiations, but with the deal, it would also have an economic interest in a quick and permanent resolution of the conflict.
