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Ukraine Expected to Ratify US-Ukraine Mineral Deal in Coming Weeks
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![Photo of Liubava Petriv]( "Photo of Liubava Petriv")
Ukraine is expected to ratify the recently signed US-Ukraine mineral deal within the next few weeks, according to Ukraine’s Vice Prime Minister and Minister of Economy, Yulia Svyrydenko, in a comment for UNITED24 Media on May 1.
However, the process of setting up the fund itself may take several months.
“Ratification will take up to several weeks, whereas setting up the fund itself may take up to several months,” Svyrydenko stated.
The Cabinet of Ministers of Ukraine has submitted a draft law to the Verkhovna Rada to ratify the agreement on May 2. Cabinet representative Taras Melnychuk announced via Telegram that the bill, registered as No. 0309, was introduced as part of the government's legislative initiative.
Svyrydenko emphasized the shared prosperity between Ukraine and the United States, noting, “People of Ukraine and the US deserve prosperity. We both achieved our interests. The statement of [US Secretary of the Treasury Scott] Bessent fully resonates with our vision.”
Commenting on the broader context of the deal, Svyrydenko stressed that the war does not prevent investment.
“The war is not an embargo on investment,” she said. “The Ukrainian team is already discussing how the Development Finance Corporation will invest, and there will be leverage to every hryvnia put into the fund.”
The American contribution, she explained, represents a shift from military aid donations to a form of capital credit. This transition marks a new phase in the cooperation between the two nations, while also reinforcing existing mechanisms for military support.
“This is not an exclusive legal instrument. It’s an additional element to the existing machinery and will encourage even more military aid,” Svyrydenko added.
The deal also forms part of broader economic and military security guarantees. Svyrydenko elaborated, saying that the involvement of US businesses operating in Ukraine represents an important form of security guarantee.
By securing access to Ukraine’s vast mineral reserves, American companies gain a critical edge in clean energy, high-tech manufacturing, defense, and infrastructure development. The partnership not only strengthens US supply chains in key sectors like batteries, semiconductors, and aerospace but also positions the US as a leading investor in Ukraine’s economic recovery and industrial future.
Earlier, Ukrainian President Volodymyr Zelenskyy confirmed that Ukraine and the United States have signed the minerals deal.
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