This document outlines the framework for joint investment in Ukraine’s strategic subsoil resources and underscores the two nations’ commitment to mutual economic growth and security.
Key Provisions of the Memorandum
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Creation of a Ukraine Restoration Investment Fund
– Establishes a dedicated fund to channel U.S. and Ukrainian capital into rebuilding critical infrastructure and developing Ukraine’s mineral wealth, including uranium, titanium, lithium, and graphite. -
Mutual Benefit and Sovereignty
– Affirms that the agreement will be advantageous to both countries, ensuring Ukraine’s full sovereignty over its natural resources and respecting its path toward EU integration and obligations to international financial institutions. -
Security and Peace Contributions
– Acknowledges Ukraine’s voluntary relinquishment of the world’s third‑largest nuclear arsenal and its role in bolstering global security. -
Non‑Conflict with European Integration
– Explicitly states that implementation of this partnership will not conflict with Ukraine’s commitments under the EU accession process or other multilateral agreements.
Next Steps
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Technical Discussions in Washington:
Prime Minister Denys Shmyhal is scheduled to meet U.S. Treasury Secretary Janet Yellen next week to finalize technical details of the agreement. -
Progress Report Deadline:
Negotiators from both sides will submit a joint report by April 26, 2025, aiming to conclude discussions and proceed to formal signing at the earliest opportunity.
Background
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The minerals agreement was a key element of President Volodymyr Zelensky’s Victory Plan announced in October 2024, which called for special partnerships to protect and develop Ukraine’s rich natural resource base.
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Initial drafts were exchanged in February, with revisions made following Zelensky’s February 28 U.S. visit. Public disagreements delayed signing, but subsequent negotiations produced the current memorandum.
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Throughout March and early April, high‑level talks—described by President Zelensky as “positive”—resolved outstanding issues, including security guarantees and investment volumes.
By codifying this memorandum, Ukraine and the United States have laid the groundwork for a strategic partnership that leverages Ukraine’s mineral potential, supports post‑war reconstruction, and reinforces Ukraine’s Euro‑Atlantic integration.
