Friday, May 2, 2025 - The United States and Ukraine have finalized an “economic partnership agreement” granting Washington preferential access to Kyiv’s mineral resources in exchange for a joint investment fund in Ukraine.
The deal follows months of difficult negotiations that began
after President Donald Trump returned to office in January. Compared to earlier
drafts, the final agreement is more balanced, no longer requiring Ukraine to
reimburse past U.S. military aid. Instead, future assistance will count as part
of the U.S. contribution to the investment fund.
President Trump described the agreement as a strategic move
to “protect” U.S. interests, saying, “We made a deal today where we get much
more, in theory, than the $350 billion, but I wanted to be protected. I didn’t
want to be out there and look foolish.”
Trump has previously overstated U.S. aid to Ukraine, falsely
claiming $350 billion had been provided since the Russian invasion in February
2022. The actual amount is closer to $120 billion, according to the Kiel
Institute for the World Economy.
The agreement grants Ukraine full ownership and control of
its resources. Ukrainian Economy Minister Yulia Svyrydenko emphasized, “All
resources on our territory and in territorial waters belong to Ukraine. It is
the Ukrainian state that determines what and where to extract.”
The signing was almost derailed by last-minute disputes over
documentation but was finalized in Washington. Ukraine’s Prime Minister Denys
Shmyhal clarified the deal does not retroactively include assistance provided
before its signing and described it as “an equal and beneficial agreement on
joint investments in Ukraine’s development and recovery.”
In a shift from previous rhetoric, the U.S. Treasury referred
to the war as “Russia’s full-scale invasion” and described the agreement as a
“historic economic partnership.” Treasury Secretary Scott Bessent stated, “This
agreement signals clearly to Russia that the Trump administration is committed
to a peace process centered on a free, sovereign, and prosperous Ukraine.”
The pace of implementation remains uncertain due to the
ongoing conflict. However, both nations agreed to establish a jointly managed
fund with equal contributions. New U.S. military aid may count as part of
Washington’s investment.
0 Comments