Ukraine is currently grappling with two critical priorities: securing the most advantageous end to the war and ensuring a swift recovery. I believe that both of these goals are intrinsically linked to fostering and maintaining strong relations between the U.S. and Ukraine.
In the past year, we have made more progress toward peace than at any other time since the conflict began. Thanks to U.S. involvement, direct negotiations took place on several occasions, a first since April 2022. Several agreements were reached. There was even a temporary agreement in place to avoid targeting energy infrastructure. The possibility of a ceasefire was also discussed.
However, the diplomatic process has now stalled. The aggressor is increasing attacks on Ukrainian cities, energy infrastructure, businesses, and general infrastructure. Simultaneously, political figures in allied nations, including the U.S. and Europe, are increasingly voicing concerns about a stalemate and the perceived pointlessness of pursuing peace. This is very concerning for Ukraine and its citizens.
It is crucial for Ukraine that the U.S. continues to lead the negotiation efforts. Should America step back from its leading position in diplomatic efforts to end the war, the violence will only continue. Conversely, I am confident that continued U.S. mediation will lead to peace. The main objective is to get Russia to engage in productive talks about a ceasefire and a just peace agreement. Only American diplomacy can accomplish this challenging task.
The second significant challenge is post-war recovery. Initial estimates suggest that a comprehensive development and reconstruction program for Ukraine will require over $500 billion. This is a substantial amount, but more importantly, it represents a massive undertaking that requires mobilizing domestic investment and creating an environment conducive to attracting foreign capital. In this regard, close collaboration with the EU and its member states is vital, as is a strategic partnership with the United States.
Cooperation with the U.S. can take many forms. It extends beyond supplying arms and jointly producing weapons to include collaboration in the energy sector, particularly in developing new energy capabilities.
Nuclear energy is a promising area. There is potential for establishing a complete nuclear fuel cycle facility in collaboration with U.S. companies. Given the changing global views on nuclear energy and the sector’s resurgence, such cooperation would be particularly beneficial. American companies could also play a crucial role in revitalizing Ukrainian industry, especially in engineering and manufacturing. Investing in new logistics infrastructure, particularly in Ukraine’s Black Sea region, is another important area. We also aim to attract U.S. financial firms to the Ukrainian market and encourage their support in rebuilding and developing Ukraine’s stock market.
We already have the “Resource Agreement,” which proposes the creation of an investment platform. However, this shouldn’t be the only approach. We need broader U.S. trade and investment agreements. The aim is to align tariffs and remove non-tariff barriers to boost foreign trade.
Currently, trade between our countries is estimated to be less than $5 billion annually, with Ukrainian exports to the U.S. under $1 billion. We are very interested in expanding access for Ukrainian companies to the U.S. market on mutually beneficial terms, primarily through joint ventures and attracting direct investments from American companies. Of course, this requires establishing appropriate conditions and providing relevant guarantees, which could be included in a future investment agreement.
All of these agreements must be adopted transparently, clearly, and without legal loopholes—unlike the situation when the Ukrainian parliament voted on the “resource agreement” with reservations and exceptions. U.S.-Ukraine relations must be based on honesty, transparency, mutual trust, and mutual benefit, all properly defined, regulated, and guaranteed in law.
I strongly believe that cooperation with the United States is not only advantageous but also essential for Ukraine. This extends beyond economics; it is a critical aspect of our national security. It provides an opportunity to collaborate with the most advanced, technologically sophisticated companies in the world. Achieving this requires building a foundation of trust based on shared values such as democracy, competition, and fairness. Ukrainians are ready for a peaceful future in which we can prosper together with trusted friends.
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