Washington, May 1 (H.S.): On Wednesday, the United States and Ukraine finalized a long-anticipated minerals agreement, marking a new form of support for Kyiv as US military aid concluded. This arrangement, following extensive negotiations, allows Washington access to Ukraine’s valuable rare earth minerals in exchange for establishing a Reconstruction Investment Fund in Ukraine. Ukraine secured vital interests, retaining full control over its untapped mineral resources critical for modern technologies.

Previously, Trump had tied access to Ukraine’s minerals to US military aid following Russia’s invasion. Despite initial hesitation, Ukraine accepted the deal to draw long-term US investment, countering Trump’s inclination to reduce America’s global security commitments.

Treasury Secretary Scott Bessent emphasized the agreement’s significance for fostering peace and prosperity in Ukraine and highlighted the exclusion of any entities linked to the Russian war effort from benefiting during Ukraine’s reconstruction. Prime Minister Denys Shmygal described the agreement as equitable, assuring that Ukraine maintains control over its resources, infrastructure, and would not incur debt for past US support. The fund generated from the agreement would exclusively reinvest profits into Ukraine, with Economy Minister Yulia Svyrydenko noting its use for mineral, oil, gas projects, and infrastructure development.

Hindusthan Samachar / Jun Sarkar