US secures access to Ukraine's minerals in historic economic deal
The United States and Ukraine finalized a landmark economic partnership on April 30, 2025, granting the US preferential access to Ukraine's vast mineral resources.
The deal, signed after months of intense negotiations, establishes a joint investment fund aimed at supporting Ukraine's reconstruction while bolstering US access to critical materials like titanium, uranium, and rare earth minerals.
The agreement, described as 'historic' by US Treasury Secretary Scott Bessent, allows American investors first rights to new projects involving Ukraine's natural resources, including aluminum, graphite, oil, and gas.
In exchange, the US will contribute to a reconstruction fund, with future military aid potentially counted as part of its investment.
Ukrainian Deputy Prime Minister Yulia Svyrydenko emphasized that Ukraine retains full control over its resources, with the deal designed to attract global investment for post-war recovery.
'This agreement signals to Russia that the Trump administration is committed to a free and prosperous Ukraine,' Bessent said, highlighting the deal's geopolitical weight amid ongoing efforts to broker peace in Ukraine's conflict with Russia.
Ukraine's mineral deposits, part of the geologically rich Ukrainian Shield, include 22 of the 50 materials deemed critical by the US Geological Survey, vital for aerospace, electronics, and clean energy technologies. The deal aims to reduce US reliance on Chinese-dominated mineral markets while supporting Ukraine's economic resilience.
Despite the optimism, some Ukrainian opposition leaders have raised concerns about the terms, calling for transparency to ensure the agreement aligns with national interests. Russian official Dmitry Medvedev criticized the deal, claiming it forces Ukraine to 'pay for American aid.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Roya News
16 hours ago
- Roya News
Russia, Ukraine exchange prisoners
Russia announced Monday the completion of the first phase of a prisoner exchange with Ukraine, following an agreement reached during the second round of peace talks held in Istanbul last week. According to the Russian Ministry of Defense, a group of Russian soldiers under the age of 25 were transferred from Ukrainian-controlled territories to Belarus. The ministry did not specify the number of returnees but stated that an equal number of Ukrainian soldiers were released in exchange. Ukrainian President Volodymyr Zelensky confirmed that the exchange process is underway and will continue in stages over the coming days. "In this first group, we are receiving wounded soldiers, including those severely injured, as well as troops under 25," Zelensky wrote in a post on social media.
Al Bawaba
17 hours ago
- Al Bawaba
China's export growth decrease in May amid Trump's tariff
China's export growth slowed in May due to ongoing uncertainty caused by escalating trade tensions with the US over reciprocal tariffs. According to data from China's General Administration of Customs released on Monday, exports in May rose 4.8% from the same period last year to $316.1 billion. The export growth rate fell short of the 8.1% increase in April, as the uncertainty caused by the mutual tariff increases between China and the US continued to be felt. During this period, the country's imports decreased by 3.4% year-on-year to $212.9 billion, while the trade surplus was calculated at $103.2 billion. In May, China's exports to the US fell by 34.5%, faster than the 21% drop in April. China's exports to the Association of Southeast Asian Nations (ASEAN) countries, its largest trading partner, increased by 14.8%, falling short of the 20.8% increase in April. The country's exports increased by 2.3% in January and February but rose by 12.4% in March due to advance shipments made in anticipation of further increases in US customs tariffs. China's exports rose 8.1% in April, showing resilience to external shocks despite escalating tensions over reciprocal tariff increases. Tariff negotiations continue in London US and Chinese officials will meet in London, the UK's capital, for a new round of negotiations aimed at resolving trade tensions. The US side will be represented by Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer, while the Chinese side will be represented by Deputy Prime Minister Hi Lifing, who is responsible for economic relations. On April 2, US President Donald Trump announced additional customs duties on trading partners, including China. China responded in kind, and the tariff dispute that ensued between the two countries ultimately led the US to raise its customs duties on China to 145%, while China imposed 125% customs duties on the US. Following the escalating trade tensions, US and Chinese officials met in Geneva, Switzerland, on May 10-11 for tariff negotiations and agreed to reduce mutual tariffs for 90 days. After the meeting, it was agreed that, as of May 14, the US would reduce its customs duties on Chinese goods from 145% to 30% for 90 days, and China would reduce its duties on US goods from 125% to 10%. In a statement on May 30, US President Trump accused China of violating most of the agreement reached in Geneva, saying he would discuss the issue with Chinese President Xi Jinping and hoped it would be resolved.
Jordan News
18 hours ago
- Jordan News
Oil Prices Steady Ahead of U.S.-China Trade Talks - Jordan News
Oil prices held steady during trading on Monday, amid anticipation of upcoming trade talks between China and the United States. Brent crude futures remained unchanged at $66.40 per barrel, while U.S. crude futures also stabilized at $64.53 per barrel, according to CNBC. اضافة اعلان Three senior aides to Donald Trump are scheduled to meet with their Chinese counterparts in London on Monday in the first meeting of the U.S.-China Economic and Trade Consultation Mechanism. — (Petra)
