**Ukraine and US to Launch Joint Critical Minerals Fund**
A joint investment fund between Ukraine and the United States is on its way, with Economy Minister Yulia Svyrydenko predicting it will start operating within months. The fund was established as part of a minerals cooperation agreement signed on April 30.
This deal marks a significant step forward in U.S.-Ukrainian economic cooperation, allowing both countries to invest in critical minerals and energy projects. According to Svyrydenko, the fund’s creation is crucial, and it will be operational once ratified by Ukraine’s parliament, the Verkhovna Rada.
**Months of Negotiations**
The agreement comes after months of contentious negotiations between Ukrainian President Volodymyr Zelensky and U.S. President Donald Trump. Their heated Oval Office argument in February initially delayed its signing. The finalized agreement has explicitly avoided linking previously received U.S. military aid to the fund, which was a major point of contention in earlier drafts.
**How the Fund Will Work**
The joint venture between the U.S. International Development Finance Corporation and Ukraine’s Agency for Supporting Public-Private Partnership will be responsible for managing the fund. Financing will come from new licenses issued after the fund’s creation, with 50% of revenues generated from new critical minerals, oil, and gas licenses directed into the fund.
The agreement lists 57 mineral resources covered, including strategic materials such as uranium, lithium, rare earth elements, gold, platinum, oil, and natural gas. Any future expansion of this list requires mutual consent between Ukraine and the U.S.
**Ratification Vote**
Opposition MP Yaroslav Zhelezniak believes that the ratification vote may take place during the plenary week of May 13-15. Once ratified, two supplementary agreements will be signed to establish the fund’s legal framework and finalize technical details.
**Long-term Commitment**
U.S. Treasury Secretary Scott Bessent sees this agreement as a significant step forward in Ukraine’s economic development and its long-term commitment to the country. He also believes that it could serve as leverage in ongoing efforts to negotiate an end to Russia’s war against Ukraine.
As the world watches, Ukraine and the U.S. are set to launch their joint critical minerals fund, marking a new chapter in their economic partnership.
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