US and Ukraine sign resources deal
The United States and Ukraine have signed a resources deal, known as the United States-Ukraine Reconstruction Investment Fund, the US Treasury confirms. Ukraine’s Economy minister, Yulia Svyrydenko, announced on X that she signed the agreement in Washington on behalf of the Ukrainian government.
“In recognition of the significant financial and material support that the people of the United States have provided to the defense of Ukraine since Russia’s full-scale invasion, this economic partnership positions our two countries to work collaboratively and invest together to ensure that our mutual assets, talents, and capabilities can accelerate Ukraine’s economic recovery,” the US government statement reads.
The statement does not provide details on the content of the agreement, but Svyrydenko says it will allow “mineral, oil and gas extraction projects” on Ukrainian territory.
“The document in its current form is a guarantee of success for both our countries, Ukraine and the United States,” she said on Facebook. Ukraine will retain “full ownership and control” of its natural resources.
Negotiations on a deal largely stalled after the public row between Donald Trump and Volodymyr Zelensky at the White House in February. The signing could be a major breakthrough in the flagging peace negotiations between Ukraine and Russia.
"The Trump administration is committed to a peace process aimed at a free, sovereign and prosperous Ukraine in the long term"
The US has repeatedly threatened to withdraw, but the resources deal means it also has an economic interest in a quick and permanent resolution of the war.
“This agreement sends a clear signal to Russia that the Trump administration is committed to a peace process aimed at a free, sovereign and prosperous Ukraine in the long term,” said Treasury secretary Scott Bessent.
Meanwhile, a Russian drone attack on Odessa, in southern Ukraine, killed two people. Another five people were injured and homes, cars, a supermarket and a school were damaged. Oleh Kiper, the governor of the oblast, reported the attack on the message service Telegram on Thursday morning. Explosions were also heard in a district of the city of Sumy.
A gas installation in the town Boyarka in the Kyiv region of Ukraine © PHOTO GENYA SAVILOV / AFP
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