The United States (US)-Ukraine Reconstruction Investment Fund will be operated solely by Ukraine and the US. Nonetheless, in the preambles of the agreement between the governments of Ukraine and US on the establishment of the fund, the two parties would welcome further investments by EU investors in mining, energy, and related technology in Ukraine.

Based on the provisions put forward in the agreement between the governments of Ukraine and US on the establishment of the fund, the Commission is conducting a preliminary assessment of any implications on the operations of the Ukraine Facility.

Specifically, it is noted that the agreement acknowledges Ukraine’s current legal obligations towards the EU, including those taken under the Ukraine Facility.

Once more details are provided by Ukraine on the development of the fund, the Commission will undertake a more in-depth legal analysis on the subject.

Last updated: 2 July 2025