Washington, Kiev setting up Reconstruction Investment Fund

WASHINGTON. May 5 (Interfax) - The United States and Ukraine have signed an agreement to establish the bilateral Reconstruction Investment Fund, the U.S. Department of the Treasury said in a statement.

"The United States and Ukraine signed an agreement to establish the United States-Ukraine Reconstruction Investment Fund," the statement said.

The goal is joint investment to "accelerate Ukraine's economic recovery," it said.

"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," the statement said.

In turn, Bloomberg reported, citing its sources, that the agreement gives the United States privileged access to natural resource projects in Ukraine, including oil, gas, graphite, and aluminum.

Revenues from the project will go to the investment fund, which will be controlled by Washington. The United States believes that the revenue would partially compensate for the cost of military assistance earlier given to Kiev.

The agreement also says that the deal made with the United States would not be an impediment to Ukraine's aspiration to join the European Union, Bloomberg said.