Ukrainian Parliament approves mineral agreement with the US

Ukraine's parliament ratified an agreement with the United States on Thursday to create a joint investment fund focused on mineral and energy exploitation. The fund's aim is to finance the country's post-war reconstruction with Russia. The initiative was backed by 338 of 400 lawmakers, and it is seen as a key step toward strengthening the economic partnership between the two nations.

The agreement was signed last week by representatives of Ukraine and the United States. It provides for the development of Ukrainian mineral wealth, including metals and rare earths vital to modern technology such as batteries, chips and defense systems. In return, the United States will participate in the reconstruction investment fund, providing capital through its International Development Finance Corporation (DFC).

A risk-sharing bet

U.S. Treasury Secretary Scott Bessent called the pact an "economic partnership," and stressed that it is not a conditional loan or a disguised ceding of resources. "They put assets, we put in capital from DFC (U.S. International Development and Finance Corporation), it’s 50/50. It’s equity, not debt," he explained, ruling out that the U.S. could take Ukrainian mineral resources in the event of defaults.

The legislative approval comes after several months of diplomatic tensions. The original agreement was scheduled to be signed in February at the White House, but fell apart over a disagreement between President Zelensky and U.S. Vice President J. D. Vance, who accused the Ukrainian leader of disrespecting him during the meeting.

Geopolitical and economic context

This new step in bilateral cooperation comes as the United States quietly promotes a peace process that would end the war in Ukraine, while seeking to secure access to key mineral resources for its technology industry. For Kiev, the agreement represents an opportunity for economic reconstruction and integration into Western supply chains at a crucial time.