Ukraine and the US are working to launch a joint minerals fund by the end of the year

Ukraine and the United States are working to launch a joint minerals fund by the end of the year, with the first board meeting expected in July, Ukraine’s First Deputy Prime Minister Yulia Svyrydenko said during a visit to Washington.

Svyrydenko met with U.S. Treasury Secretary Scott Bessent and the U.S. Development Finance Corporation to outline next steps, including decisions on seed capital and a multi-year investment strategy.

• The fund stems from a minerals development agreement signed in April after intense negotiations that improved terms for Kyiv.
• The deal, strongly backed by Trump, was later ratified by Ukraine’s parliament and is seen as a key step in strengthening economic ties.
• The agreement also helped ease tensions between Trump and Ukrainian President Volodymyr Zelenskiy following earlier friction over the path to resolving Ukraine’s ongoing war with Russia.