Key provisions of the U.S.–Ukraine Reconstruction Investment Fund

A New Chapter in U.S.–Ukraine Strategic Investment

The recently signed Agreement on the Establishment of the U.S.–Ukraine Reconstruction Investment Fund marks a pivotal step in Ukraine’s recovery and future economic development, combining sovereign integrity with global capital and strategic expertise.

This agreement signals clearly to Russia that the Trump Administration is committed to a peace process centered on a free, sovereign, and prosperous Ukraine over the long term.  

— Scott Bessent, U.S. Secretary of the Treasury

Key Strategic Principles

Sovereignty Preserved: All natural resources, including those in territorial waters, remain solely under Ukrainian ownership. State-owned enterprises—such as Ukrnafta and Energoatom—will not be privatized.

True Partnership Governance: The Fund is co-managed on a 50/50 basis by Ukraine and the United States, ensuring no single controlling interest and reinforcing mutual accountability.

No New Debt: The structure avoids burdening Ukraine with new debt obligations, ensuring financial prudence amid recovery.

Full Legal Alignment: The Agreement complies with Ukraine’s Constitution, supports its EU integration goals, and requires ratification by Ukraine’s Parliament.

Investment Framework

Revenue Sharing from the Future: The Fund will receive 50% of future revenues from new licenses in critical minerals, oil, and gas—excluding existing operations or budgeted income.

Reinvestment for Reconstruction: For the first 10 years, all returns will be reinvested domestically, fueling reconstruction and strategic project development.

U.S. Government Backing: The U.S. Development Finance Corporation (DFC) will anchor the Fund, helping unlock additional allied investment and technology.

Tax-Free: Income generated by the Fund is exempt from taxation in both Ukraine and the U.S.

Strategic Offtake Guarantees: A “take or pay” mechanism ensures stable demand and mitigates commercial risk for investors.

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For additional information or to arrange a follow-up, please contact Philip.Reeker@dgagroup.com and Sergiy.Tsivkach@dgagroup.com.