Ukraine-US Partnership: Transforming Economic Perceptions and Investment

In a recent discussion, Kurt Volker, the former US Special Envoy for Ukraine, addressed the implications of the newly established Ukraine-US partnership focusing on mineral and natural resource collaboration. While the agreement may not deliver immediate financial returns, Volker emphasized its significance in reshaping perceptions about Ukraine's economic prospects. Source: Volker's insights were presented on June 13 during the GLOBSEC Forum 2025 held in the Czech Republic. Details: The agreement includes plans for a Recovery Fund, which is expected to receive funds from natural resource extraction licenses in Ukraine. However, Volker cautioned that it might take a long time before any contributions will actually materialize, stating, "the reality is: nothing will go into this fund... for years and years." According to Volker, the essential aim of this agreement is not just financial; it aims to change the narrative around US support for Ukraine from one of charity to a concept where Ukraine can eventually offer repayments for the assistance it has received. He commented critically on the previous administration's approach, asserting, "the Biden administration has been spending taxpayers’ money limitlessly and having no strategy." However, he noted that a strategy is now in place that enables Ukraine to "pay them [the US] back." Volker highlighted that any potential financial benefits from this initiative are contingent on the resolution of the ongoing conflict and substantial investment in Ukraine's extraction industries in the years that follow. On the subject of investment in Ukraine, Volker mentioned that many regions are still viable for business operations, and the main barriers facing investors are often related to the business environment rather than the war itself. He stressed the importance of identifying and eliminating obstacles to encourage economic development. Background: Ukraine's parliament ratified the minerals agreement with the United States on May 8, which included the establishment of a joint reconstruction investment fund. This law was later signed by President Volodymyr Zelenskyy on May 12. On May 13, Ukraine entered into two commercial agreements with the US International Development Finance Corporation, advancing the implementation of the investment fund. Subsequently, on June 4, amendments to the Budget Code were approved by Ukraine’s parliament to facilitate the execution of the minerals agreement with the US. Support Ukrainska Pravda on Patreon!