Ukraine has objected to the US demand to set up a special fund for $500bn, which was envisaged as part of a resource deal to reimburse the US side’s spending. Bloomberg reports about it, citing a source familiar with the negotiations.
According to him, Kiev estimates the actual amount about five times less – about $ 90 billion, and the stumbling block remains the lack of guarantees from the U.S. regarding future military and financial assistance.
‘The US had tentatively proposed to set the size of this fund at $500bn, we have now reduced this proposal to $100bn and handed it over to (special envoy Keith) Kellogg,’ the source told Ukrainian publication New Voice. According to him, Kiev also conveyed a wish for a meeting between the Ukrainian and US presidents next week to discuss the details.
The US side’s proposal was to set up a special fund worth $500bn, which Ukraine would contribute to and the USA would fully own. Washington’s plan of agreement suggests that Ukraine would give up half of its revenues from natural resources, including minerals, gas and oil, as well as revenues from ports and other infrastructure.
The fund would focus ‘on the long-term reconstruction and development of Ukraine, where the United States would have economic and management rights over these future investments,’ US Treasury Secretary Scott Bessent said. He said the US does not claim to own physical assets in Ukraine, nor would it want to make the country a major debtor.
‘We’re asking for rare earth metals and oil, whatever we can get,’ US President Donald Trump said.