Ukrainian Foreign Minister Andrii Sybiha reported that he informed the High Representative of the European Union for Foreign Affairs and Security Policy, Josep Borrell, about the signing of an important agreement between Ukraine and the USA regarding cooperation in the resource sector. According to him, during the conversation, the parties also discussed current issues on Ukraine’s agenda with the EU and coordinated further steps ahead of planned international events.
This is reported by Kyiv24
“I informed my colleague about the signing of the Agreement on the Establishment of the Reconstruction Investment Fund between the USA and Ukraine. This marks an important milestone in the strategic partnership between Ukraine and the USA aimed at strengthening Ukraine’s economy and security”
According to Sybiha, discussions were also held regarding diplomatic efforts and plans to achieve a just and lasting peace in Ukraine. The minister noted that they exchanged information regarding preparations for the visit of EU foreign ministers to Ukraine, scheduled for May 9.
Signing of the Agreement between Ukraine and the USA
On the night of May 1, it became known that Ukraine and the USA signed an important agreement on economic partnership and the creation of a Reconstruction Investment Fund. According to Minister of Economy Yulia Svyrydenko, this document ensures Ukraine’s full ownership and control over resources, as well as equal participation of the USA and Ukraine in the fund — 50/50.
The agreement does not entail any debt obligations for Ukraine towards the USA and will not hinder Ukraine’s accession to the European Union. The fund will be replenished with revenues from new licenses, and the document must be ratified by the Verkhovna Rada.
The initiative for the agreement belongs to former US President Donald Trump, who promoted this idea as early as the beginning of his second presidential term. Both parties were ready to sign it back in February, but the meeting in the Oval Office went off the rails and interrupted the signing process.
The USA seeks access to over 20 strategically important raw materials, including titanium, uranium, lithium, graphite, and manganese. Ukraine possesses reserves of these resources, which are essential for the production of aerospace technology, nuclear energy, and electric vehicles.