18.04.2025 13:40
Ukraine and the United States signed a memorandum of understanding ahead of a rare earth elements agreement. Ukrainian Minister of Economy Svyrydenko stated that the agreement is an important step for the country's reconstruction and the creation of economic opportunities.
The first step has been taken regarding the rare earth elements agreement expected to be signed between the USA and Ukraine. Ukrainian Minister of Economy and Deputy Prime Minister Yulia Svyrydenko announced on her social media account that a memorandum of understanding has been signed before the rare earth elements agreement between the two countries.
"IT WILL BE AN EFFECTIVE TOOL FOR THE RECONSTRUCTION OF OUR COUNTRY"
Svyrydenko stated, "We are pleased to announce that the memorandum of understanding, which paves the way for the Economic Partnership Agreement with our American partners and the establishment of the Investment Fund for the Reconstruction of Ukraine, has been signed. We hope that the fund will be an effective tool in attracting investment for the reconstruction of our country, modernization of infrastructure, support for the business community, and the creation of new economic opportunities.
"WE CONTINUE TO WORK ON THE AGREEMENT"
It is very important that the memorandum expresses the desire of the American people to invest alongside the Ukrainian people for a free, sovereign, and secure Ukraine. This document is the result of the professional work of the negotiating teams, which recently completed another round of technical discussions in Washington. Next, we will finalize and sign the text of the agreement, followed by its approval by the parliaments. We continue to work on the agreement," she said.
The memorandum was signed remotely by Ukrainian Minister of Economy Svyrydenko and US Treasury Secretary Scott Bessent.
A JOINT FUND IS EXPECTED TO BE ESTABLISHED
US President Donald Trump wants Ukraine to gain access to rare earth elements in exchange for billions of dollars in military aid provided by the US. The Trump administration proposed a comprehensive mining agreement last month that includes investing the revenue generated from the processing of natural resources in Ukrainian territories into a joint investment fund. While work on the agreement continues, the Kiev administration is trying to convince the US to provide Ukraine with a "security guarantee" along with the mining agreement. US President Donald Trump stated yesterday that the rare earth elements agreement could be signed on Thursday, April 24.