Ukraine’s Verkhovna Rada overwhelmingly ratified a landmark minerals agreement with the United States on Wednesday, with 338 lawmakers voting in favor, according to MP Yaroslav Zhelezniak.

The deal, signed on April 30, establishes a joint Reconstruction Investment Fund and grants the U.S. special access to projects developing Ukraine’s natural resources.

The agreement, which was backed by 11 members of the parliamentary foreign policy committee on May 6, with one abstention and two non-participants, marks a significant step in Kyiv-Washington economic cooperation. Details of the fund’s operations remain undisclosed, though both nations will manage it as equal partners, with contributions from each side. Prime Minister Denys Shmyhal clarified that future U.S. military aid could count toward Ukraine’s contributions, but prior assistance is excluded.

The ratification follows months of contentious negotiations, which strained U.S.-Ukraine relations at times. An earlier attempt to finalize the deal in February collapsed after a heated White House exchange between Ukrainian President Volodymyr Zelensky and U.S. President Donald Trump. The finalized agreement addresses concerns raised by experts about potential exploitation, omitting controversial elements from earlier drafts. However, it lacks concrete U.S. security guarantees for Ukraine.

Ahead of the parliamentary vote, Economy Minister and Deputy Prime Minister Yulia Svyrydenko held separate meetings with faction leaders in the Verkhovna Rada to secure support, as reported by Suspilne. The deal’s approval signals Ukraine’s commitment to deepening economic ties with the U.S. while navigating complex geopolitical dynamics. (ILKHA)