Overnight, Ukraine and the US finally signed a deal on Ukraine’s mineral reserves. The agreement, signed two months later than planned, sees the two countries set up what they have called the ‘United States-Ukraine Reconstructions Investment Fund’, the aim of which will be to attract ‘global investment’ into Ukraine following the end of the war with Russia. Until the last minute, it was unclear whether Ukraine would indeed sign on the dotted line, with sounds coming from Washington late last night that chances of the agreement being locked in over the coming day standing at ‘little better than 50-50’.
While details of the fund have yet to be revealed, it is believed to centre around an agreement that Kyiv and Washington would split any proceeds from Ukraine’s mineral extraction evenly. According to the Ukrainian economy minister Yulia Svyrydenko, who flew to Washington to sign the deal on Kyiv’s behalf, under the agreement Ukraine still retains control and ownership of its natural resources.
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