Ukraine and the US work to ensure that the fund from the subsoil deal can invest in defense

Kyiv and Washington are working to ensure that the U.S.-Ukraine Investment Fund, which is envisioned in the subsoil agreement, can invest in the defense sector. This was reported to by Prime Minister Yulia Svyrydenko following a conversation with U.S. Treasury Secretary Scott Bessent.

The head of government noted that her team has been actively working with Bessent for months, but on August 5, they had their first conversation as prime minister and, accordingly, a wider range of issues.

The parties discussed strengthening cooperation in the defense and investment sectors. Attention was paid to a potential defense deal announced by President Volodymyr Zelenskyy – on the production and sale of Ukrainian drones, as well as the possible purchase of American weapons.

"We discussed the launch of the U.S.-Ukraine Investment Fund. We are working on expanding its mandate so that the fund can invest in the defense sector," Svyrydenko wrote.

She emphasized that the first meeting of the board of directors is scheduled for September. The goal is to launch the first three projects within 18 months.

The parties also touched upon the issue of strengthening sanctions pressure and cooperation with international financial organizations. The parties agreed to continue the dialog at the working level.

• Earlier in the day, Zelenskiy had a phone conversation with Trump. They discussed new sanctions against Russia, weapons, and a ceasefire.
• The head of state, after a phone call, said that Kyiv had already prepared a draft drone agreement with Washington.