The United States and Ukraine have signed an economic partnership agreement on the creation of a joint investment fund for the reconstruction of Ukraine after more than three years of war waged by the Russian Federation. The act was signed in Washington by US Treasury Secretary Scott Bessent and Ukrainian Economy Minister Yulia Sviridenko, reports IPN.
“Thanks to continued efforts to secure a lasting peace, I am honored to announce the signing of a historic economic partnership agreement between the United States and Ukraine that establishes the US-Ukraine Investment Fund to accelerate the reconstruction of the Ukrainian economy,” Bessent said, quoted by Deutsche Welle.
The governments of the two countries are confident that the partnership will be swiftly implemented to the benefit of both nations. The full text of the agreement has not yet been published.
Iulia Sviridenko said in a post on social media that the fund will be managed equally by the two sides, according to the 50/50 principle: “Neither side will have a casting vote, it will be an equal partnership between Ukraine and the US”.
The agreement contains no reference to Ukraine’s debts to the US. The country’s natural resources, including underground resources and territorial waters, remain the exclusive property of the Ukrainian state.
“Ukraine decides where and what is exploited. The deposits remain our state”, said Iulia Sviridenko. Also, in the first 10 years, all the fund’s revenues will be reinvested in new projects or reconstruction, but detailed conditions will be discussed later.
The United States and Ukraine last month signed a memorandum of intent that paved the way for the signing of a bilateral agreement on the exploitation of Ukraine’s mineral resources.
