The United States and Ukraine have entered a landmark agreement designed to provide Washington with access to key natural resources in Ukraine, further solidifying US support as the war with Russia continues. The deal focuses on establishing an investment fund that Ukraine anticipates will bolster US assistance, nearly three years after Russia's invasion. Here are the crucial aspects of the agreement:
1. **No Financial Recipients**: In a notable shift, Ukrainian Prime Minister Denys Shmyhal asserted that the deal does not impose any requirement for Ukraine to repay the alleged $350 billion in US aid—a point previously emphasized by former President Trump.
2. **US Strikes a Tougher Stance on Russia**: The language in the agreement regarding Russia has notably hardened. It acknowledges "Russia's full-scale invasion," with the US Treasury Department asserting that anyone involved in supporting the Russian war effort will be excluded from Ukraine's reconstruction processes.
3. **Inclusion of Oil and Gas**: While initial discussions focused heavily on Ukraine's mineral resources, the agreement also includes provisions for oil and natural gas. Though still under Ukrainian ownership, US access to these resources indicates a softening stance from Kyiv.
4. **No Hindrance to EU Membership**: As Ukraine aspires to join the European Union, there were concerns about the agreement adversely affecting this goal. However, the deal explicitly respects Ukraine's EU ambitions, stipulating that US engagement won't conflict with EU accession processes.
5. **Military Assistance Reaffirmed**: The agreement is framed as critical for Ukraine to continue receiving US military support, with Ukrainian officials stating it includes potential new contributions like air defense systems.
6. **Uncertain Security Guarantees**: While the agreement outlines economic commitments, tangible security guarantees from the US remain ambiguous, leaving questions about the future stability of military support compared to previous administrations.
7. **Reinvesting in Ukraine’s Recovery**: An intriguing aspect of the deal mentions that profits from the investment fund will be reinvested into Ukraine's economy for the first decade, although specifics on this were not part of the official agreement.
Treasury Secretary Scott Bessent highlighted this deal as a significant step towards establishing a partnership between the US and Ukraine, indicating a joint commitment to their success amidst the ongoing conflict. The Kremlin's reaction to the agreement is yet to be seen.
