No debt, equal partnership: Zelensky on new minerals deal with the US
Ukrainian and the US finalised the mineral deal on Wednesday, allowing the US preferential access to mineral resources and supporting investments in Ukraine’s reconstruction. The agreement was heavily promoted by US President Donald Trump.
After months of tense negotiations, with uncertainty until the eleventh hour, the deal was signed in Washington. The two nations agreed on the creation of a joint investment fund dedicated to Ukraine’s post-war recovery effort, with Trump hoping for an end to war through peace for the three-year conflict with Russia.
Here’s the full statement of Ukrainian President Volodymyr Zelensky:
Today, our government team reported on the economic partnership with the United States. We have an agreement. It has been signed and will be submitted to the Verkhovna Rada for ratification. And we are interested in having no delays with it.
All our representatives did a good job. The agreement has changed significantly during the preparation process. It is now truly an equal partnership — one that creates opportunities for substantial investment in Ukraine, as well as significant modernisation of Ukraine’s industries and, equally importantly, its legal practices.
The agreement foresees no debt. It stipulates the establishment of a Reconstruction Fund that will invest in Ukraine and generate returns in Ukraine. This means joint work with America, based on fair terms, allowing both Ukraine and the United States, which supports us in our defence, to make money in partnership.
President Trump and I discussed our readiness to conclude this agreement during our meeting in the Vatican. In fact, this is the first tangible outcome of that Vatican meeting, making it historic. We look forward to other outcomes from that conversation — it was a meaningful meeting, and President Trump and I used every minute to the fullest. I thank him for that. And once again, I thank both our teams — the Ukrainian and the American.
THE US-UKRAINE TIES
The deal is crucial for Kyiv, particularly in mending its ties with Trump and his administration, which have been tense since his presidency began. Ukrainian authorities believe this agreement will ensure US backing for the defence of Ukraine against Russian aggression.
US Treasury Secretary Scott Bessent and Ukrainian First Deputy Prime Minister Yulia Svyrydenko signed the deal.
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