Ukraine notifies US of finalizing natural resources deal

KIEV -- Ukraine on Tuesday delivered to the United States an official note confirming the completion of its internal procedures for a bilateral natural resources deal, which would establish a joint investment fund for Ukraine's reconstruction, the Interfax-Ukraine news agency reported.

Ukrainian First Deputy Prime Minister and Economy Minister Yulia Svyrydenko handed over the note to Julie Davis, charge d'affaires a.i. at the US embassy in Kiev.

The agreement to establish the fund, which will be partially financed by new royalties on Ukraine's mineral resources, gas and oil, was signed on April 30 in Washington, D.C. by Svyrydenko and US Treasury Secretary Scott Bessent.

According to Svyrydenko, both countries will co-manage and co-finance the fund, while Ukraine would maintain ownership and complete control over its mineral and energy resources.