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Exclusive: US fund to make 'big' investment in Ukraine's critical minerals this fall, economy minister says

A fund set up by Kyiv and Washington will make its second investment in the fall, this time backing a critical minerals project, Ukraine's economy minister said. "In the fall we will announce a big investment into critical minerals," Economy Minister Oleksii Sobolev told the Kyiv Independent in an in-depth interview, in which he spoke at length about how Ukraine is a market economy at the cutting edge of learning to live in a more uncertain world.  Sometimes referred to as the "minerals deal,"

Economy Minister Oleksiy Sobolev in Kyiv, Ukraine, on July 3, 2026.

About Odesa Oblast

The region in Ukraine’s southwest covers 33,310 square kilometers (12,861 square miles) along Ukraine's Black Sea coast, with a population of approximately 2.4 million and Odesa city as its administrative center. Odesa Oblast borders Moldova to the west, and Romania across the delta of the Danube. Odesa Oblast serves as Ukraine's main maritime trade gateway and has faced repeated Russian missile and drone strikes targeting port infrastructure since the full-scale invasion began in February 2022.

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