Ukraine's parliament ratifies minerals deal between Washington, Kyiv

The Verkhovna Rada, Ukraine's parliament, ratified the U.S.-Ukraine minerals deal on May 8, lawmaker Yaroslav Zhelezniak said.

The document was supported by 338 MPs.

The agreement, signed on April 30, establishes a joint investment fund between Kyiv and Washington and grants the U.S. special access to projects developing Ukraine's natural resources.

On May 6, Ukraine's parliamentary committee on foreign policy has backed the ratification of the minerals deal. Eleven members of the foreign policy committee supported the decision; one abstained from voting, and two others did not participate, according to Zhelezniak.

Following the signing of the agreement between Kyiv and Washington, the parties did not disclose details on how the Reconstruction Investment Fund will work, except that it will be managed in an equal partnership, with both sides contributing.

Earlier, Prime Minister Denys Shmyhal said that future military aid from the U.S. could count as contributions to the fund, but previous assistance is not included.

Ukrainian President Volodymyr Zelensky welcomed the ratification of what he described as the most promising economic agreement between Ukraine and the U.S. to date. "This is joint investment cooperation with the U.S. for decades to come," Zelensky said.

"I expect the ratification law to be submitted from the Verkhovna Rada to my Office soon. Once the legal procedures are complete, we will be able to begin establishing the Fund," he wrote on X.

The signing of the minerals deal followed months of negotiations that at times became contentious and strained the relationship between the U.S. and Ukraine.

The countries first planned to ink the deal in late February, but the agreement fell apart in the wake of the infamous White House argument between President Volodymyr Zelensky and U.S. President Donald Trump.

The final deal avoids many elements in the earlier drafts that experts viewed as exploiting Ukraine, but still provides no concrete security guarantees from the U.S. The finalized agreement does prevent counting previously delivered U.S. military aid as a contribution to the joint fund.

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