White House Signs Economic Partnership with Ukraine Amid Ongoing War
In a significant move, the White House announced Wednesday night the establishment of an economic partnership with Ukraine, including an agreement regarding the extraction and ownership of natural resources in the war-torn nation. This initiative, dubbed the United States-Ukraine Reconstruction Investment Fund, aims to bolster Ukraine’s economic recovery by allowing U.S. investments alongside Ukrainian efforts.
Treasury Secretary Scott Bessent emphasized that this partnership demonstrates a commitment to a peaceful and prosperous Ukraine. "This agreement signals clearly to Russia that the Trump Administration supports a peace process focused on Ukraine’s sovereignty," he stated. Importantly, he noted that entities involved in financing Russia’s war efforts will not benefit from the reconstruction funds.
Ukrainian Economy Minister Yulia Svyrydenko clarified that the agreement empowers Ukraine to determine its resource extraction, asserting that "subsoil remains under Ukrainian ownership." The investment fund will be jointly managed, with equal voting rights for both parties. It will be financed through new licenses for oil, gas, and critical minerals, directing 50% of revenues to the fund to finance various extraction and infrastructure projects.
President Trump highlighted that the agreement could allow the U.S. to recover military assistance funds provided to Ukraine, totaling $66.5 billion. He stated, "I didn’t want to make a complicated deal… and we made a deal where our money is secure."
The agreement follows a recent meeting between Trump and Ukrainian President Volodymyr Zelenskyy, where they expressed optimism about future negotiations. Meanwhile, tensions remain high as Russia continues its offensive against Ukraine, complicating peace efforts.
Note: The image is for illustrative purposes only and is not the original image associated with the presented article. Due to copyright reasons, we are unable to use the original images. However, you can still enjoy the accurate and up-to-date content and information provided.
