On Wednesday, the United States and Ukraine announced the establishment of a new reconstruction and investment fund, marking the formalization of an economic pact designed to provide the U.S. with access to proceeds from Ukraine’s abundant rare earth mineral reserves.
This agreement concludes a series of complex negotiations regarding continued U.S. economic and military assistance to Ukraine amid ongoing efforts to negotiate an end to the conflict with Russia. The deal aims to offer Ukraine an implicit security guarantee while addressing concerns over unrestrained U.S. financial support.
Treasury Secretary Scott Bessent emphasized that the pact sends a clear message to Russia about the United States’ long-term commitment to a peace process that upholds Ukraine’s sovereignty and prosperity. He highlighted that the partnership reflects the dedication of both the American and Ukrainian peoples to sustainable peace and economic growth.
Additionally, Bessent underscored that no individual or nation involved in financing or supplying Russia’s war efforts will be permitted to benefit from Ukraine’s reconstruction initiatives.
