The United States and Ukraine signed an agreement on minerals. The signature of the Washington Agreement was confirmed on Wednesday afternoon local time, while US Finance Minister Scott Bessent described it as “historical”. TASR writes about this according to AFP and AP.
“I am happy to announce the signature of the historical agreement on the economic partnership,” stated Bessent In a video published on the social network X. He added that “this partnership allows the United States to invest together with Ukraine, to release Ukrainian growth assets, mobilize American talent, capital and management standards that will improve the investment environment in Ukraine and speed up its economic renewal”.
Ukrainian Minister of Economy and the first Deputy Prime Minister Julija Svyrydenková also confirmed that she signed an agreement on the name of Ukraine in Washington. Kiev, according to her words, will create an investment fund for the restoration of Ukraine as part of the agreement together with the United States. “We are creating a fund with the United States that will attract global investments to our country,” wrote on the platform X.
The United States has not yet published the details of the agreement achieved, which will only come into force after approval in the Ukrainian parliament. However, the agreement should provide the US with a preferential approach to new investment projects aimed at developing Ukrainian natural resources including aluminum, graphite, oil and natural gaswrote Bloomberg.
Svyrydenková after signing explained that In accordance with the agreement, Ukraine retains the full ownership of all minerals in its territory and in its territorial waters. On the X platform she said it would be In Ukraine, “determine what and when it will be mined”. At the same time, the investment fund will be equally managed by both countries. “Neither party will have a dominant voting right – a reflection of an equal partnership between our two countries,” she said.
“The important thing is that this agreement signals a global partner that long -term cooperation with Ukraine – for decades – is not only possible but also reliable,” quoted Ukrainian Minister DPA agency.
Reuters, shortly before signing, looked into the proposal of the agreement and informed that Ukraine has reached the cancellation of the requirement to repay the US for the previous military assistance, which was provided by President Joe Biden’s administration. Even Ukrainian Prime Minister Denys Šmyhaľ said before signing that the US side would be able to count only new military aid as its contribution to the investment fund.
