The United States and Ukraine have officially signed a long-awaited agreement to jointly exploit Ukraine’s vast natural resources, following months of intense negotiations, reports BBC.
Under the agreement, both countries have committed to establishing a reconstruction investment fund aimed at accelerating Ukraine’s economic recovery in the wake of its ongoing conflict with Russia.
US Treasury Secretary Scott Bessent emphasized that this deal demonstrates both nations’ commitment to lasting peace and sustainable prosperity in Ukraine. For Kyiv, the agreement is viewed as critical to securing access to continued US military aid.
Ukraine is believed to possess significant reserves of critical minerals, such as graphite, titanium, and lithium, which are in high demand due to their use in renewable energy technologies, military applications, and industrial infrastructure.
This agreement comes at a time when the US is engaged in a trade war with China, the source of 90% of the world’s rare metal reserves. The partnership with Ukraine offers an alternative source for these vital resources, especially amid rising global tensions.
