US and Ukraine Sign Mineral Agreement... 'Russian Invasion' Specified

The United States and Ukraine have signed a 'Mineral Agreement' for the US's participation in Ukraine's reconstruction and joint investment in minerals.

The US Treasury Department announced on the 30th (local time) that it had signed an agreement to establish the US-Ukraine Reconstruction Investment Fund. The US Treasury Department stated, "This economic partnership allows both countries to cooperate and jointly invest to accelerate Ukraine's economic recovery with the assets, capabilities, and talents of both nations."

In this statement, the US government used the term 'full-scale invasion.' This is the first time the US has officially described Russia's actions as an invasion of Ukraine in official documents. Initially, the US government was reluctant to officially mention Russia's invasion. US Treasury Secretary Scott Besant said, "This partnership sends a clear signal to Russia," and emphasized that "no country or individual that supported the war will benefit from the reconstruction process."

Through this agreement, the US and Ukraine will establish a joint investment system for Ukraine's natural resources, including minerals, oil, and gas. The US will have the lead in managing the joint investment fund, which both countries will contribute to in cash. It is known that the US will also have priority over some of the profits generated from the fund.

Initially, the US and Ukraine planned to sign the mineral agreement in February. However, the agreement was canceled due to a conflict of opinions between then-US President Donald Trump and Ukrainian President Volodymyr Zelensky. It is reported that the current agreement does not include issues related to the Zaporizhzhia nuclear power plant or restrictions on joining the European Union (EU).