Ukraine, U.S. Target July Launch for Strategic Minerals Fund

Ukraine and the United States are accelerating efforts to operationalize a strategic minerals fund, aiming for a first board meeting in July and full functionality by the end of 2025. The initiative, championed by U.S. President Donald Trump, is designed to support Ukraine’s mineral development and attract global investment amid ongoing geopolitical tensions with Russia.

Yulia Svyrydenko, Ukraine’s First Deputy Prime Minister, confirmed during her Washington visit that concrete steps are being taken to launch the fund. She met with U.S. Treasury Secretary Scott Bessent and officials from the U.S. International Development Finance Corporation (DFC), a key partner in the fund, to finalize the implementation roadmap.

“We discussed how to make the fund operational this year,” Svyrydenko told reporters. “We plan to hold the first board meeting in July, where we’ll finalize seed capital and approve a multi-year investment strategy.”

The minerals fund was formalized in April after a complex negotiation process, eventually resulting in terms more favorable to Kyiv. Ukraine’s parliament has since ratified the deal, marking a significant diplomatic win for the Zelenskiy administration.

The agreement also followed a tense discussion at the White House between President Trump and Ukrainian President Volodymyr Zelenskiy regarding the ongoing war with Russia. However, relations between the two leaders appear to be on the mend after a brief meeting at Pope Francis’s funeral in April, helping restore U.S.-Ukraine cooperation.

As Ukraine aims to leverage its vast critical mineral reserves for post-war recovery and global supply chain integration, this U.S.-backed fund could become a cornerstone of foreign investment and economic resilience. The collaboration underscores Washington’s commitment to supporting Kyiv’s long-term resource independence and regional stability.