U.S. Locks in Rare Earth Deal with Ukraine, but Payoff May Take a Decade

Last week,  the United States and Ukraine signed a long-awaited minerals deal, with Washington gaining access to Kyiv’s mineral resources in exchange for establishing an investment fund. The fund will be capitalized from future natural resource extraction, with Kyiv’s Economy Minister Yulia Svyrydenko saying the “full ownership and control” of the resources will stay with Ukraine. The agreement covers all sub-soil resources, including Ukraine’s oil and gas. The agreement also stipulates that future American military…