David Lammy has said that UK support for Ukraine remains “steadfast” as he welcomed the economic deal signed between Washington and Kyiv.
The two countries signed off on an agreement on Wednesday that is expected to give America access to Ukraine’s mineral resources, while providing Volodymyr Zelensky with a measure of assurance about US support for Kyiv in its war with Russia.
It comes two months after a fraught meeting between Mr Zelensky and US President Donald Trump at the White House looked to have derailed an agreement.
The UK welcomes steps taken by the US and Ukraine to sign an economic partnership.
— David Lammy (@DavidLammy) April 30, 2025
The UK’s support for Ukraine remains steadfast. With our 100-year partnership, we are deepening economic and security ties for the future generations of both of our countries.
In a message on X in the early hours of Thursday, Foreign Secretary Mr Lammy said: “The UK welcomes the steps taken by the US and Ukraine to sign an economic partnership.
“The UK’s support for Ukraine remains steadfast. With our 100-year partnership, we are deepening economic and security ties for the future generations of both our countries.”
The developments come as Mr Trump has expressed frustrations with Mr Zelensky and Russian President Vladimir Putin in recent weeks over progress towards peace.
The US president told NewsNation on Wednesday evening that the deal with Ukraine “in theory” means that America will get more from Ukraine than it contributed through the war.
“I wanted to be protected,” he said, adding that he did not want to look “foolish” by not getting money back for the investment.
The so-called United States Ukraine Reconstruction Investment Fund is a “recognition of the significant financial and material support that the people of the United States have provided to the defence of Ukraine since Russia’s full-scale invasion”, the US Treasury said last night.
Thanks to @POTUS @realDonaldTrump’s tireless efforts to secure a lasting peace, I am glad to announce the signing of today’s historic economic partnership agreement between the United States and Ukraine establishing the United States-Ukraine Reconstruction Investment Fund to help… pic.twitter.com/N1jPa35DYh
— Treasury Secretary Scott Bessent (@SecScottBessent) April 30, 2025
In a statement, US Treasury Secretary Scott Bessent said: “This agreement signals clearly to Russia that the Trump administration is committed to a peace process centred on a free, sovereign and prosperous Ukraine over the long-term.”
According to Ukraine’s economy minister, Yulia Svyrydenko, the fund could provide new assistance for the country, including programmes such as air defence systems.
She gave more details of the agreement in a thread on X, including the principle that “full ownership and control remain with Ukraine”.
📌Key provisions of the Agreement — in brief:
— Yulia Svyrydenko (@Svyrydenko_Y) April 30, 2025
1. Full ownership and control remain with Ukraine.
All resources on our territory and in territorial waters belong to Ukraine. pic.twitter.com/qEM3nX26S5
She said that “all resources on our territory and in territorial waters belong to Ukraine”.
“It is the Ukrainian state that determines what and where to extract,” she added, and said that the management of state-owned companies would remain Ukrainian.
She said: “The United States will contribute to the fund. In addition to direct financial contributions, it may also provide NEW assistance — for example, air defence systems for Ukraine.”
It comes days after Mr Trump and Mr Zelensky met at the Vatican, having both travelled for the Pope’s funeral.
