Ukraine-U.S. critical minerals agreement and next steps

This was revealed during a livestream by MP Oleksiy Honcharenko from the Verkhovna Rada.  

“This agreement serves as a preliminary step toward a future deal—the establishment of the Ukraine Development and Reconstruction Investment Fund. It defines the framework for drafting or signing the next agreement. The next steps after signing include forming a delegation, which will be approved by the government in accordance with the Law of Ukraine on International Treaties. This delegation will receive specific directives, and further intergovernmental discussions between Ukraine and the U.S. will follow to develop the agreement for the fund’s creation,” the Prime Minister explained.  

He emphasized that all subsequent steps are clearly outlined in Ukraine’s law on international treaties.  

“The treaty establishing the Investment Fund will have the status of an international agreement. Therefore, it will be approved by the government and ratified by parliament. The document will detail the full structure and operational framework of the fund,” Shmyhal added.

According to him, the fund will be jointly managed by Ukraine and the United States.  

"Ukraine will contribute funds to it from a portion of revenues generated by rent and licensing fees for mineral resources. However, mineral resources and Ukrainian property will not be transferred to the United States, nor will they be considered contributions to the fund. Instead, future revenues earned from natural resources will partially be used to replenish the fund," Shmyhal stated.  

He also emphasized the issue of security guarantees for Ukraine.  

"Security guarantees are outlined in Article 10, stating that this agreement is preliminarily integrated into the framework of our existing agreements with the United States. A security guarantees agreement has already been signed," the prime minister said.

• Kyiv has agreed a deal with Washington on Ukrainian rare earth minerals after the US rejected the toughest demands, but the document does not have clear security guarantees.