Photo : Al Jazeera
Photo : Al Jazeera
By Fleur Elizabeth Philip and Padmashree Anandhan
WAR ON THE GROUND
On 30 April, the US and Ukraine signed an agreement to establish the US-Ukraine Reconstruction Investment Fund. The agreement aims to provide incentives to help Ukraine in the war against Russia, invest in the defence and energy platforms, and address the concerns over the aid that was already contributed under the Biden administration. US Treasury Secretary Scott Bessent and Ukraine’s Economy Minister Yulia Svyrydenko signed the critical minerals deal. Ukraine which is rich in a lot of critical minerals, like graphite, titanium and lithium which the US needed for developing its renewable energy, military technology, and infrastructure. According to Reuters, the deal includes the creation of the joint fund, in which Ukraine would receive half the profits. The agreement also includes providing the US with preferential access to any new Ukraine resources deal, but there will be no direct control over Ukraine’s minerals and natural resources.
THE MOSCOW VIEW
Claims by Russia
On 30 April, the Kremlin said: “The peace deal is on the Russia-Ukraine War,” and that it should have reached Kyiv rather than Washington. Kremlin spokesperson, Dmitry Peskov, said that Russia’s President Vladimir Putin was ready for the ceasefire proposals, and understands that the US need to resolve soon.. Peskov further noted: “The issues between Russia and Ukraine are too complex to be resolved in one night, and many factors need to be resolved.”
Earlier, National security advisor to President Putin, Nikolay Patrushev, spoke about the acts of sabotage Russia is receiving from the West. He said: “There is a consistent increase in the NATO activity in the Baltic region, Northern Sea North Atlantic and the Pacific region. The West is expanding and taking decisive steps in establishing blockages in the shipping routes, and is inspecting ships in international waters.” He warned that any attempts made by the EU and the US, regarding the expel of Russian vessels, Russia will retaliate, which is to be ensured by the navy. The West has imposed tighter maritime restrictions on Russia ever since the war with Ukraine began in 2022. There have also been several sanctions imposed upon Russia that limit its access to naval and port infrastructure and financial institutions.
THE WEST VIEW
Responses from the US and Europe
On 30 April, Reuters reported on the EU’s ‘Plan B’ to maintain the economic pressure against Russia, if US President Donald Trump abandons the peace talks with Ukraine. EU's high representative for foreign and security policy, Kaja Kallas issued statement on the ambiguity in US position to support Ukraine in the peace process. She said: “We see signs that they are contemplating whether they should leave Russia and not try to get a deal with the Russians because it is hard.” She also mentioned on the increased concerns across the EU on US’s demand for the EU businesses to restart their cooperation with Russia while the ban remains. On Hungary’s threat to block EU’s extension of sanctions on Russia, Kallas responded that the bloc aims to keep all its member states aligned. On official recognition of Crimea, a latest demand from Trump, Kallas objected the call and stated that no EU country would accept. She said: “On the European side, we have said this over and over again . . . Crimea is Ukraine.” Instead she asked the US to add pressure on Russia.
On 30 April, US Department of the Treasury announced the agreement between the US and Ukraine to establish a Reconstruction Investment Fund. As per the statement issued by the Treasury, highlighted the importance of the economic partnership to use assets, talent and capabilities mutually to aid Ukraine’s economy recover. US Secretary of the Treasury Scott Bessent indicated the agreement as a clear signal of Trump administration’s commitment to peace process. He added on the deal: “No state or person who financed or supplied the Russian war machine will be allowed to benefit from the reconstruction of Ukraine.”
References
Bernd Debusmann, “US and Ukraine sign long-awaited natural resources deal,” BBC, 30 April 2025
Burc Eruygur, “Kremlin says peace deal must be reached with Ukraine, not US,” AA, 30 April 2025
“West stepping up maritime terrorism – Putin aide,” RT, 30 April 2025
“US-Ukraine minerals deal: What is known so far,” RT, 30 April 2025
“Treasury Announces Agreement to Establish United States-Ukraine Reconstruction Investment Fund,” US Department of Treasury, 30 April 2025
“EU readies 'plan B' should Trump walk away from Ukraine talks, FT reports,” Reuters, 30 April 2025