Ukraine finalizes ratification of US minerals deal, paving way for joint investment fund
Ukraine completed the ratification of the U.S.-Ukraine minerals agreement on May 12, according to the Verkhovna Rada's website. President Volodymyr Zelensky signed the deal on May 12.
The finalization caps a months-long, often contentious negotiation process between Kyiv and Washington over critical minerals cooperation.
The deal is aimed at deepening economic ties, boosting Ukraine's reconstruction, and positioning the country as a supplier of strategic resources to the U.S.
The Verkhovna Rada ratified the agreement on May 8, with 338 lawmakers voting in favor, according to lawmaker Yaroslav Zhelezniak.
Signed on April 30, the deal establishes a Reconstruction Investment Fund jointly managed by Kyiv and Washington under an equal partnership model.
The agreement gives the U.S. special access to projects developing Ukraine's vast deposits of critical minerals, including lithium, titanium, and rare earth elements.
Following the signing, both sides declined to disclose full operational details of the fund. Prime Minister Denys Shmyhal previously said future U.S. military aid could be counted as contributions to the fund, but stressed that past assistance would not be included.
The agreement emerged after months of difficult talks that strained relations between the U.S. and Ukraine. Plans to sign the deal in late February collapsed following a heated White House argument between Zelensky and U.S. President Donald Trump.
The final version excludes controversial provisions from earlier drafts that experts warned could have exploited Ukraine's resources. However, it does not include explicit security guarantees from the U.S., a long-standing priority for Kyiv.
