Ukraine and the United States have signed an agreement on subsoil, establishing the U.S.-Ukraine Reconstruction Investment Fund, which will attract global investment to our country.
The agreement provides for the following points:
- Ukraine retains full control. All natural resources on Ukrainian territory and waters remain the property of Ukraine. Only the state decides what and where to extract. This is clearly stated in the agreement.
- Partnership on equal terms. The fund is being created in a 50-50 ratio, and Ukraine will manage it with the United States. Neither side will have an advantage – it is truly equal cooperation.
- State property is protected. The agreement does not change the privatization and management of state-owned companies – they will continue to belong to Ukraine. For example, Ukrnafta and Energoatom remain state-owned.
- No debts. The document does not provide for any financial obligations of Ukraine to the United States.
- The agreement does not contradict the Constitution or the course of European integration. Everything is in line with Ukrainian legislation and international obligations. It also signals to other partners that Ukraine can and should be worked with long-term.
- The fund will be filled exclusively with revenues from new licenses for the extraction of minerals, oil, and gas. Revenues from projects already started or planned in the state budget will not go to the Fund. The agreement applies only to future cooperation and new initiatives.
- Minimal changes to laws. The Budget Code only needs to be slightly updated. The agreement must be ratified by the Verkhovna Rada.
- The US will help with investments and technology. Through the DFC agency, the US side will help attract money and innovations from around the world – not only from the US but also from the EU and other partner countries.
- Tax benefits for efficiency. The fund and its income will not be taxed in Ukraine or the United States to ensure investments yield better results.
How the Fund will work
The United States contributes to the Fund, including new assistance, such as air defense systems. Ukraine transfers to the Fund 50% of the revenues from new royalties under new licenses for new fields. If necessary, it can make additional contributions. We are talking about cooperation for decades to come.
The Fund will invest in Ukrainian projects, including mining, oil, and gas production, as well as related infrastructure or processing. Ukraine and the United States will jointly approve all investments.
The Fund is focused exclusively on Ukraine. In the first 10 years, profits are expected to be not distributed but invested back into new projects and reconstruction. This point will be discussed further.
The US Treasury Department noted that this economic partnership allows the two countries to work together and invest jointly so that resources, knowledge, and capabilities can help restore the Ukrainian economy faster. US Treasury Secretary Scott Bessent called the document historic. According to him, the agreement sends a clear message to Russia that the Trump administration is committed to a peace process “centered on a free, sovereign, and prosperous Ukraine for the long term.”
