WASHINGTON (dpa-AFX) - At the end of months-long negotiations, the United States signed a natural resources deal with Ukraine.
According to the economic partnership agreement, the U.S. will share profits from future sales of Ukraine's rare earth minerals and energy reserves. In return, Washington will establish a joint investment fund in support of the war-torn country's defense and reconstruction.
'I am glad to announce the signing of today's historic economic partnership agreement between the United States and Ukraine establishing the United States-Ukraine Reconstruction Investment Fund,' said U.S. Secretary of the Treasury Scott Bessent.
Under the Biden administration, the United States provided nearly $123 billion in military aid packages in installments to Ukraine since Russia invaded it in February 2022.
President Donald Trump had earlier demanded that Kyiv repay all these massive cost. However, to the relief to Kyiv, the new minerals deal doesn't include provisions for repayment. The joint investment fund will help Ukraine pay for future military and humanitarian aid, as well as reconstruction efforts once the war is over, BBC reports.
The Treasury Department and the U.S. International Development Finance Corporation will work together with the Government of Ukraine to finalize program governance and advance the partnership.
Meanwhile, Ukraine and Russia accused each other of launching deadly drone attacks overnight.
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