Agreement signed in Washington; Ukraine retains sovereignty over its resources.
The long-anticipated raw materials agreement between the United States and Ukraine, previously stalled for months (we reported), was finalized late Wednesday night. The deal was signed in Washington, D.C. by U.S. Treasury Secretary Scott Bessent and Ukraine’s Deputy Prime Minister Yuliia Svyrydenko. The agreement apparently mostly follows the draft originally slated for signing in late February. At its core is the creation of a joint reconstruction fund for Ukraine, aimed at rebuilding the country following Russia’s ongoing aggression. Under the terms of the deal, Ukraine will contribute 50 percent of future revenues generated from the monetization of its state-owned mineral resources, including oil, gas, and related infrastructure such as port facilities, into the fund.
Despite this contribution, Ukraine will retain full sovereignty over its resources and will independently determine how they are to be developed and used, Svyrydenko emphasized in an initial statement. The U.S. Treasury Department described the agreement as a strong message to Russia, highlighting the Trump administration’s long-term commitment to a peace process centered around a free, sovereign, and prosperous Ukraine.
Although rare earth elements have been frequently mentioned in media reports as a key component of the deal, they are expected to play a minimal role. The U.S.-based think tank Center for Strategic and International Studies (CSIS) noted that reliable data on the economic viability of extracting these materials in Ukraine remains limited. Furthermore, China continues to dominate the global processing and refinement of rare earths.
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