Kyiv and Washington established a joint investment fund to exploit Ukraine’s raw materials and rebuild the country, under Ukrainian control.
Ukraine and the United States announced late Wednesday, after months of negotiations, that they had signed a joint agreement on raw materials and investment. Under the agreement, the two countries will establish the United States-Ukraine Reconstruction Investment Fund, which is intended to support new projects aimed at extracting raw materials and economic reconstruction.
The .U.S. Treasury Department was the first to release a statement about the agreement, stating on X, “On April 30, the United States and Ukraine signed an agreement to establish the United States-Ukraine Reconstruction Investment Fund. This historic economic partnership clearly signals the Trump Administration’s commitment to a free, sovereign, and prosperous Ukraine.”
Yulia Szviridenko, Ukraine’s first deputy prime minister and minister of economy, posted on X: “On behalf of the Government of Ukraine, I signed the Agreement on the Establishment of a United States–Ukraine Reconstruction Investment Fund. Together with the United States, we are creating the Fund that will attract global investment into our country.”
On behalf of the Government of Ukraine, I signed the Agreement on the Establishment of a United States–Ukraine Reconstruction Investment Fund.
Together with the United States, we are creating the Fund that will attract global investment into our country. pic.twitter.com/8ryyAMqW83
— Yulia Svyrydenko (@Svyrydenko_Y) April 30, 2025According to Sviridenko, writes Mandiner, during the operation of the fund, the ownership of raw materials and the right to extract them will remain in the hands of Ukraine, decision-making will be equally divided between the parties, and the ownership structure of the fund will be 50-50 percent.
Ukrainian state-owned energy companies, such as Ukrnafta and Energoatom, will not be privatized. In addition, the agreement does not impose any debt obligations on Ukraine and is fully consistent with the country’s constitution and international obligations.
The fund will be financed exclusively from revenues from new production licenses, meaning that resources from projects already underway and planned in the state budget will remain outside the scheme. 50 percent of the income from new oil and gas licenses will go to the fund. The American side is represented by the International Development Finance Corporation (IDFC), which not only provides financial contributions, but also provides technology and investment to Ukrainian projects.
In addition, Szviridenko said that funds are also expected from “other international partners who support Ukraine’s fight against the Russian aggressor.”
The agreement provides tax guarantees as well. Income and contributions related to the fund will be tax-free in both Ukraine and the United States.
The fund will be able to invest exclusively in Ukraine, and during the first 10 years, no dividends are expected to be paid, but profits will be fully reinvested in new Ukrainian projects. However, according to Sviridenko, “these conditions are subject to further discussions.”
“We have crafted an agreement that provides mutually beneficial terms for both countries. The United States reaffirms its commitment to long-term peace in Ukraine and recognizes Ukraine’s contributions to global security – including its renunciation of nuclear weapons. This agreement reaffirms the United States’ commitment to the security, recovery, and reconstruction of Ukraine,” the Ukrainian minister emphasized.
U.S. Treasury Secretary Scott Bessent also posted a video message on X: “Thanks to President Trump’s tireless efforts to secure a lasting peace, I am glad to announce the signing of today’s historic economic partnership agreement between the United States and Ukraine establishing the United States-Ukraine Reconstruction Investment Fund to help accelerate Ukraine’s economic recovery. Economic security is national security.
“The U.S. International Development Finance Corporation will work closely with the Government of Ukraine to establish this fund, and we look forward to quickly operationalizing this historic economic partnership for both the Ukrainian and American people,” Bessent continued.
“This agreement sends a clear signal to Russia that the Trump administration is committed to a peace process centered on a free, sovereign, and prosperous Ukraine in the long term,” he added.
The minister emphasized: “And to be clear, no state or person can benefit from the reconstruction of Ukraine that has financed or supplied the Russian war machine .” However, neither Donald Trump nor Volodymyr Zelensky have commented on the agreement on their social media platforms so far.
