Following months of difficult talks, the US and Ukraine have reached an agreement on the cooperative development of their mineral and energy resources. To support Ukraine’s economic recovery from its conflict with Russia, the two nations have agreed to establish a rebuilding investment fund.
It demonstrated both parties’ commitment to achieving enduring peace and development in Ukraine, according to US Treasury Secretary Janet Yellen. The agreement is viewed as crucial for Kyiv to get US military assistance.
Large quantities of vital minerals, including lithium, titanium, and graphite, are thought to exist in Ukraine. Their usage in industrial infrastructure, military uses, and renewable energy makes them extremely desirable. Approximately 90% of the world’s current rare-earth stockpiles are sourced from China, where the US is engaged in a trade dispute.
The newly established US-Ukraine Reconstruction Investment Fund acknowledges the “significant financial and material support” that the United States has provided to Ukraine since Russia’s invasion in February 2022, according to a statement released by the US Treasury on Wednesday afternoon. Unlock Ukraine’s growth assets” is what the U.S. Treasury Secretary said in a video message.
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