The United States and Ukraine have reached an agreement on a significant deal aimed at supporting Ukraine's recovery efforts. Ukrainian President Volodymyr Zelensky is expected to travel to Washington, DC, in the coming days to discuss the deal further with President Donald Trump. The cornerstone of the agreement is the establishment of a joint-owned "Reconstruction Investment Fund" designed to boost Ukraine's oil, gas, and rare earth sectors. Despite this economic collaboration, the deal does not include explicit security guarantees for Ukraine, a point of contention highlighted by both nations.
Ukraine will contribute 50% of all revenues from the future monetization of its state-owned natural resource assets to the fund. These assets encompass hydrocarbons, oil, natural gas, and rare earth minerals. President Zelensky described the agreement as a "framework," emphasizing that it could form part of future security guarantees. However, he noted that concrete steps on security guarantees must be decided jointly with the US and European partners.
"We will not repay money given to us by the US as part of the natural resources deal." – Zelensky
In contrast to some claims, the deal stipulates that money provided by the US to Ukraine as part of this agreement will not be repaid. Zelensky firmly stated his position on this matter, asserting that accepting debt repayment would set a concerning precedent.
"I will not accept [even] 10 cents of debt repayment in this deal. Otherwise, it will be a precedent." – Zelensky
Since February 2022, the US has supplied Ukraine with approximately $120 billion in support. This figure contrasts sharply with Trump's claim that $350 billion had been provided. During a recent discussion, French President Emmanuel Macron corrected Trump, emphasizing France's substantial financial efforts in aid to Ukraine.
"No, in fact, to be frank, we paid. We paid 60% of the total effort. It was like the US: loans, guarantees, grants." – Macron
Zelensky expressed his intention to engage in further discussions with President Trump during his visit to Washington, DC, to clarify the deal's implications and explore additional support measures. He hinted at potential alternative strategies if US aid were to cease.
"If the United States will stop support [for Ukraine] or not," Zelensky noted, suggesting that Ukraine might consider purchasing weapons directly from the US using frozen Russian assets.
While the deal represents a significant step forward in bolstering Ukraine's economic sectors, its lack of explicit security guarantees remains a focal point. Trump voiced his concerns over the perceived imbalance in contributions and expectations.
"They get their money back. We gave it in the form of nothing." – Trump
"So I want them to give us something for all of the money that we’ve put up." – Trump
The agreement includes provisions for signatures from US Treasury Secretary Scott Bessent and Ukraine's Foreign Minister Andrii Sybiha, marking a formal commitment from both nations. Despite these agreements, Zelensky emphasized that security assurances extend beyond bilateral talks and require a broader consensus with European allies.
