A long-term minerals deal first mooted in February has now been signed between the US and Ukraine.
The agreement – labelled a reconstruction investment fund – is evidence of an improvement of relations between the two countries following US President Trump and Ukraine leader Volodymyr Zelensky’s high-profile spat in The White House at the end of February, when the deal collapsed. It is designed to accelerate Ukraine’s post-war recovery while placing more pressure on Russia President Vladimir Putin to end the war.
Ukraine contains large reserves of graphite, titanium and lithium, all of which are vital to the energy transition, as well as abundant gas reserves, estimated at over 670 billion cubic metres (cbm).
“This economic partnership positions our two countries to work collaboratively and invest together to ensure that our mutual assets, talents, and capabilities can accelerate Ukraine’s economic recovery,” the US Treasury statement reads. Notably it also included recognition of Russia’s “full scale invasion”.
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