Agreement on minerals: kyiv and Washington sign a “intention memorandum”
“We are pleased to announce the signing, with our American partners, of an intention protocol paving the way to an economic partnership agreement and the creation of the investment fund for the reconstruction of Ukraine”said, on X, Ioulia Svyrydenko, Vice-Prime Minister and Minister of the Ukrainian economy.
kyiv and Washington had planned to sign an agreement on the extraction of Ukraine’s strategic minerals several weeks ago, but a conflict between presidents Donald Trump and Volodymyr Zelensky in February temporarily interrupted the work on the agreement.
Trump hopes that the agreement, which aims to grant the United States, royalties on the profits drawn from the exploitation of Ukrainian resources and rare minerals, constitutes compensation for the aid granted to Ukraine by his predecessor, Joe Biden.
Mme Svyrydenko did not publish the details of the memorandum, but said that the work continued for a final agreement. “We hope that the fund will become an effective tool to attract investments in the reconstruction of our country, the modernization of infrastructure, support for businesses and the creation of new economic opportunities”she said.
“There is a lot to do, but the current rhythm and significant progress make it possible to hope that the document will be very beneficial for the two countries” Maked Mme Svyrydenko.
US officials say that strengthening American commercial interests in Ukraine will help dissuade Russia from any future aggression in the event of a cease-fire.
kyiv claims concrete military and security guarantees as part of any agreement to put an end to the war that has lasted for three years.
