Since taking over the Oval Office, President Trump has needled the Ukrainian president on how he would repay the billions in military aid supplied to the Eastern European nation after its territory was invaded by Russia.
Most notably, it gives the U.S. access and voting rights over Ukraine’s sought-after natural resources such as oil, gas and minerals including titanium, zirconium, graphite, and manganes.
The deal revolves around the establishment of the United States-Ukraine Reconstruction Investment Fund, which will “unlock” Ukraine’s natural resources.
The fund will be run 50-50 by Ukrainian and American representatives, with each nation having three seats on the board.
“The agreement does not mention any debt obligations of Ukraine to the USA,” wrote Svyrydenko. “The implementation of the agreement will allow both countries to enhance their economic potential through equal cooperation and investments.”
For example, the diplomat confirmed the agreement does not change the status of private or state-owned companies—such as oil company Ukrnafta or electricity provider Energoatom—currently operating in the minerals industry.
Other details include the fact that the fund will be replenished solely from new licenses established following the deal and that “revenues from already started projects or planned budget receipts are not included.”
The politician added that the agreement is legal and compliant with Ukraine’s national constitution and does not violate any international laws. Any “envisioned” changes only relate to the budget.
“We’ve removed this so that the agreement is truly a partnership. This is an important achievement.”
And the budget could change—likely for the upside, added Svyrydenko. That’s because the deal not only says America “will help attract additional investments and technologies” but, Svyrydenko adds: “Ukraine contributes 50% of state budget revenues from the new rent on new licenses for new plots.
“Ukraine may also make additional contributions beyond this baseline if it deems it necessary. This pertains to cooperation for decades ahead.”
The fund will also be exempt from tax in both Ukraine and the U.S. to ensure maximum returns, added the diplomat.
Like the finer financial details of the agreement, no confirmation of military support has been made public.
Likewise, in a video released following the deal’s announcement, Treasury Secretary Scott Bessent said: “Today’s agreement signals clearly to Russian leadership that the Trump administration is committed to a peace process centered on a free, sovereign, and prosperous Ukraine over the long term.
“It’s time for the cruel and senseless war to end. The killing must stop, and both the United States and the government of Ukraine look forward to quickly operationalizing this historic economic partnership for both the Ukrainian and American people.”
Likewise, Svyrydenko added that as part of the deal, the U.S. will help Ukraine “in attracting investments and technologies … that support our fight against the Russian enemy.”
She further added that in addition to direct funds, America could also contribute new air to projects like air defense systems.
The White House did not respond to Fortune’s request for comment on any further military aid the U.S. may offer to Ukraine.
