Already a subscriber? Make sure to log into your account before viewing this content. You can access your account by hitting the “login” button on the top right corner. Still unable to see the content after signing in? Make sure your card on file is up-to-date.
Ukraine’s parliament has officially signed off on a minerals agreement with the United States.
Some shit you should know before you read: Back in April, Ukraine’s Economy Minister Yuliia Svyrydenko and US Treasury Secretary Scott Bessent signed the US-Ukraine minerals deal. The agreement lays the groundwork for the creation of the “United States–Ukraine Reconstruction Investment Fund,” which is designed to manage and distribute profits from the extraction of Ukraine’s critical mineral resources. Under its terms, the United States gains preferential access to valuable Ukrainian commodities—including fossil fuels and rare earth elements—while revenues will be shared equally between the two countries. The fund will operate under a joint 50-50 governance structure requiring consensus for decision-making. Notably, the deal does not include any debt obligations, sparing Ukraine from repaying past US military aid—an important concession secured during months of negotiation.
Getting into it: In a notable development, Ukraine’s Verkhovna Rada ratified a strategic minerals agreement with the United States. Of the 347 lawmakers present during the vote, 338 backed the agreement, nine abstained, and none voted against. The outcome was seen as a strong endorsement of the government’s push to formalize the partnership. Ukraine’s Head of the Presidential Office Andriy Yermak called it a “historic decision” that would fortify Ukraine’s position both economically and geopolitically.
Despite the strong parliamentary support, the agreement drew criticism from some Ukrainian lawmakers over the lack of detail in its implementation. Questions were raised about how the investment fund will be governed, what mechanisms would oversee financial contributions, and whether Ukraine had ceded too much economic leverage to the United States. Opposition figures previously expressed concern that the rushed ratification process left insufficient time to scrutinize the long-term ramifications of the deal.
Public sentiment around the agreement has been mixed, according to polling by the Kyiv International Institute of Sociology. Around 47% of Ukrainians expressed support for the deal, while 22% believed it could have negative consequences, and 19% said it would likely have no impact.
