Ukrainian Parliament ratifies Ukraine-U.S. minerals deal

This was reported by a Ukrinform correspondent, citing the live broadcast by MP Yaroslav Zhelezniak from the "Holos" parliamentary faction on YouTube.

The legislative initiative was adopted with the support of 338 MPs

The agreement provides for the creation of a Reconstruction Investment Fund together with the United States, which will attract global investments into Ukraine.

Under the law adopted, the Verkhovna Rada of Ukraine ratifies the Agreement signed on April 30, 2025, in Washington, D.C.

The agreement enters into force on the date of the later diplomatic note in the exchange of notes between the parties, confirming that each side has completed its internal procedures.

The ratification of the agreement does not imply parliamentary ratification or automatic approval of any limited partnership agreement or other agreements that may be concluded later.

This Agreement aims to strengthen strategic cooperation between the parties for the long-term reconstruction and modernization of Ukraine in response to Russia’s full-scale invasion.

The agreement foresees the creation of the U.S.-Ukraine Reconstruction Investment Fund as a key mechanism to promote transparent, accountable, and forward-looking investment in subsoil development and extraction of minerals, oil, and gas, as well as in the infrastructure and processing related to these resources

The Fund will be jointly managed by Ukraine and the United States.

Ukraine will contribute to the Fund using 50% of revenue from new licenses for projects in critical materials and oil and gas sectors. These revenues will come into the state budget after the Fund is established.

The United States, apart from direct financial contributions, may provide additional support through the Fund.

Importantly, the agreement does not mention any debt obligations of Ukraine to the United States.

The Fund is supported by the U.S. International Development Finance Corporation (DFC), which will help attract investments and technologies from funds and companies in the U.S., the EU, and other countries.

The Fund’s revenues and contributions will not be taxed either in the U.S. or in Ukraine.

Ukraine expects that in the first 10 years, the Fund’s profits and revenues will not be distributed, but instead reinvested into Ukraine – into new projects or reconstruction efforts.

It is expected that the agreement will cover the entire internationally recognized territory of Ukraine, including maritime zones and de-occupied territories.

As reported by Ukrinform, Ukraine and the U.S. signed the agreement on the establishment of the Reconstruction Investment Fund on April 30.

Two other agreements are expected to be submitted to the Ukrainian government shortly to regulate the Fund's launch. The Fund is expected to become fully operational within a few weeks.