The Ministry of Economy of Ukraine is actively negotiating with the United States regarding the implementation of strategic investment projects under the mineral agreement signed between the countries. As stated by Minister of Economy Yulia Svyrydenko, the ministry is already collaborating with US Treasury Secretary Scott Bessent and the International Development Finance Corporation (DFC) to launch the first initiatives.
This is reported by Finway
Main Cooperation Projects with the US
The pilot project of the new investment fund will be the development of the lithium deposit “Dobra,” located in Kirovohrad Oblast. Ukraine has significant potential in the field of mineral extraction, particularly those critical for modern technologies, and aims to attract American capital to this sector.
In addition to the lithium project, Kyiv has proposed two other major initiatives to the United States. Specifically, these involve the exploration of shelf gas with the participation of the state company “Naftogaz,” as well as a large-scale modernization of the Kremenchuk oil refinery. The latter is the largest oil processing facility in Ukraine and belongs to “Ukrnafta.”
Modernization of the Kremenchuk Oil Refinery and Security Issues
“The ministry has presented a $2.7 billion project for DFC’s consideration and is awaiting feedback. The refinery in Kremenchuk is often a target of Russian attacks, so American companies participating in the project may demand the US government to strengthen Ukrainian air defense.”
The Ministry of Economy identifies the modernization project of the Kremenchuk oil refinery as strategic and profitable for the state. Given the ongoing Russian attacks on the facility, American companies involved in the investment may raise concerns about enhancing the protection of the facility and the Ukrainian air defense system as a whole.
Kyiv plans to implement these three key projects in cooperation with the United States over the next 18 months.