The US-Ukraine Minerals Agreement: What the Framework Document Provides for

The Framework Agreement should become a starting point for closer cooperation between Ukraine and the United States in the field of natural resource extraction and investment. Find out what this could look like in practice

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Ukraine and the United States have agreed on a framework agreement that paves the way for the creation of a Recovery Investment Fund. The document does not require immediate ratification by the parliaments and forms a general understanding of how the two countries will cooperate in the development and monetisation of Ukraine's natural resources. At the same time, the agreement makes no mention of Ukraine's debts to the United States, and the issue of security guarantees is touched upon in only one phrase.

What is the essence of the framework agreement?

The framework document actually sets out the basic principles of future cooperation between Ukraine and the United States in the use and monetisation of mineral resources. It describes:

1. Establishment of the Recovery Investment Fund (Fund), to which Ukraine and the United States will contribute assets and cash.

2. Principles of interaction between the parties and restrictions on the transfer of shares in the Fund to third parties.

3. Areas of investment activity: exploration and production of mineral resources, hydrocarbons, oil and gas, as well as development of infrastructure and processing enterprises.

The next step will be to prepare a separate agreement on the specific mechanisms of the Fund's operation, which will have to undergo ratification procedures in the Verkhovna Rada of Ukraine and, possibly, in the US Congress.

Recovery Investment Fund: key aspects

▪️ Joint ownership: Ukraine and the United States will become partners through a joint stake in the Fund.

▪️ Prohibition on sale of shares: Participants in the Fund cannot sell or transfer their shares without the written consent of the other party.

▪️ Capital formation:

The Fund will accumulate and reinvest the revenues contributed by the participants, as well as receive profits from the monetisation of natural resources owned by Ukraine.

The Government of Ukraine, for its part, undertakes to contribute 50% of all revenues from the future monetisation of natural assets (including mineral deposits, hydrocarbons, oil, gas, etc.).

At the same time, the Fund will not receive funds from general budget revenues. The procedure, amount and stability of contributions will be determined in a separate agreement.

▪️ Revenue reinvestment:

At least once a year, the Fund will reinvest in projects in Ukraine. This will be aimed at strengthening the security, protection and prosperity of the country.

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How the Fund will work

Under the terms of the framework agreement, the Recovery Investment Fund will aim to:

1. Development and monetisation of natural resource assets of both state and private ownership.

2. Attracting investments in upstream, downstream, infrastructure and port projects.

3. Stimulating economic growth by increasing the production and export of minerals, oil, gas, and other resources.

In addition, the document emphasises that the United States is committed to a lasting peace and partnership with Ukraine, and the American people are ready to invest in the recovery of the Ukrainian economy.

The issue of security guarantees

Despite the fact that one of the goals of the agreement is to support Ukraine's security and defence, the document itself only briefly mentions this: ‘The U.S. government supports Ukraine's efforts to obtain the security assurances necessary to build a lasting peace.’

This may well mean that the specific measures and details of such guarantees will remain the subject of additional arrangements or separate agreements. Although, according to the US media, the Trump administration is trying to avoid the clause on guarantees for Ukraine.

We remind you! Since Donald Trump came to power in the United States, talks about peace talks to end the war in Ukraine have intensified significantly. Today, the topic of negotiations is perhaps the most important in the European political arena. We told you what progress has been made in this matter and whether we should expect peace in the near future.

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