Ukraine notifies US of finalising natural resources deal

Kyiv: Ukraine 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.

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 Kyiv, Xinhua news agency reported quoting the Interfax-Ukraine news agency .

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 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.

Earlier the US State Department has approved an F-16 fighter jet training and sustainment package worth $310 million for Ukraine, the Pentagon announced.

The package included aircraft modifications, flight training, maintenance support, spare parts, ground handling equipment, and specialised software systems, according to the US Defence Security Cooperation Agency (DSCA).

Lockheed Martin Aeronautics, BAE Systems and AAR Corporation are the deal’s principal contractors. However, This package contained no actual aircraft, as the jets would be provided by NATO allies rather than directly from the United States, said the DSCA.

The support package followed an earlier $266.4 million F-16 sustainment agreement approved in December 2024 under the administration of Joe Biden, which provided mission planning systems and key maintenance equipment, Xinhua news agency reported.

IANS