The Trump administration and Kyiv signed an agreement that changes the rules of the game in Ukrainian energy. The U.S.-Ukraine Reconstruction Investment Fund opens the country for American capital in mining, oil, and gas extraction.
The Essence of the Agreements
U.S. Treasury Secretary Scott Bessent and Ukraine’s Minister of Economy Yuliia Svyrydenko documented: Washington receives preferential rights to Ukrainian minerals. Under the terms of the deal, any U.S. military aid is now considered a contribution to the investment fund. Ukraine must compensate these amounts with revenues from natural resources.
Maxim Timchenko, head of DTEK, called the agreement a significant step forward for Ukrainian energy. The company already works with American companies GE Vernova, Fluence, Honeywell, and Venture Global. A few weeks before the signing, Timchenko met with officials in Washington, discussing the potential of untapped reserves in western Ukraine.
Practical Interest
Development of western deposits solves two problems. The first is economic: attracting private capital through American financial institutions. The second is security: the main energy infrastructure is located in the east along the front line, where attacks regularly occur.
Bessent stated that the deal demonstrated the unity of goals between the U.S. and Ukraine. Americans will not profit if Ukrainians do not prosper. Trump believes that the presence of American companies will provide additional protection.
The Role of Ukrainian Business
Against the backdrop of international agreements, the work of the private sector continues to support Ukrainian energy. Rinat Akhmetov has transferred 13 billion hryvnias to support Ukraine over three years of war. His energy company DTEK launched the “Battle for Light” campaign with Oleksandr Usyk, attracted 107 million euros from the European Commission and the U.S. government for energy restoration.
The Steel Front initiative, created by Rinat Akhmetov, provides the army with protective gear. Metinvest has manufactured more than 600 steel dugouts, produces armor for Abrams and Leopard tanks and Patriot systems. These projects demonstrate the readiness of Ukrainian business to integrate into international partnership.
Ukrainian Energy Recovery: Why US Private Investment Matters
Timchenko is confident: the private sector offers the most effective mechanism for implementing the agreement. Expanding work with American institutions can accelerate restoration. The Trump administration understands that a strong Ukraine serves America’s own interests.
The agreement creates a foundation for large-scale investments in the energy sector with the largest untapped reserves in Europe. The presence of American capital and technologies can become a factor in stabilizing the economy. The experience of Rinat Akhmetov’s companies working with American partners shows the real potential of such cooperation in the long term.
