The agreement on the establishment of the Reconstruction Investment Fund, signed by Ukraine and the United States, or, as it is called, the agreement on mineral resources, refers to 57 strategically important minerals on the territory of Ukraine. Among them are lithium, uranium, graphite, titanium, cobalt, manganese, nickel, rare earth elements, as well as oil and natural gas. This is reported by UNN with reference to the text of the agreement published by the government.
Details
According to the signed document, the American-Ukrainian Reconstruction Investment Fund is being established.
It also states that the Government of Ukraine is taking all measures to assist its agencies and institutions in the implementation and implementation of this agreement and the limited partnership agreement. And the Government of the United States of America, in turn, confirms that it has taken the necessary measures to allow the relevant US structures to implement and implement this agreement and the limited partnership agreement.
In addition, the Government of Ukraine must ensure that, despite other legislative acts, it will continue to provide the partnership and its limited liability partners with no less favorable treatment than that required by this agreement.
Importantly, as stated in the document, this agreement strengthens the strategic partnership between Ukraine and the United States for the long-term reconstruction and modernization of our state in response to the massive destruction caused by the full-scale invasion of the Russian Federation into Ukraine, and in the pursuit of a peaceful, sovereign and sustainable country.
The agreement also states that the reconstruction of Ukraine requires not only financial investments, but also structural, institutional and technological transformations, consistent with democratic values, market principles and the rule of law.
"The parties also affirm that this agreement is an expression of a broader, long-term strategic alignment between their peoples and governments, and a tangible demonstration of the United States of America's support for Ukraine's security, prosperity, and reconstruction and its integration into the global economic framework," the text states.
It is reported that the partnership between Ukraine and the United States aims to serve as a flagship mechanism for encouraging transparent, accountable and forward-looking investments in critical sectors of the Ukrainian economy to support Ukraine's recovery strategy.
57 minerals
The agreement also contains a list of resources containing 57 strategic minerals.
"Natural resource assets" means sites, reserves and deposits in the territory of Ukraine of aluminum, antimony, arsenic, barite, beryllium, bismuth, cerium, caesium, chromium, cobalt, copper, dysprosium, erbium, europium, fluorine, fluorspar, gadolinium, gallium, germanium, gold, graphite, hafnium, holmium, indium, iridium, lanthanum, lithium, lutetium, magnesium, manganese, neodymium, nickel, niobium, palladium, platinum, potassium, praseodymium, rhodium, rubidium, ruthenium, samarium, scandium, tantalum, tellurium, terbium, thulium, tin, titanium, tungsten, uranium, vanadium, ytterbium, yttrium, zinc, zirconium, oil, natural gas (including liquefied natural gas) and other minerals or hydrocarbons, otherwise agreed by the principals," the document states.
The document also states that the United States, for its part, confirms tax breaks for the Ukrainian side, in particular, expects that Ukraine's profits will not be subject to federal tax or withholding tax. In addition, the document stipulates that raw materials obtained under the agreement will not be subject to US tariffs under the Emergency Economic Powers Act.
The Government of Ukraine also ensures the free conversion of hryvnia into dollars and the possibility of transferring from any relevant account in Ukraine to partnership accounts opened in Ukraine or abroad. And such transfers will take place without delays.
Movement towards EU membership
The agreement mentions another important point, in case of new circumstances related to Ukraine's movement towards EU membership.
"If, after the signing of this agreement, Ukraine needs to assume additional obligations related to its accession to the European Union that may affect this provision, the parties shall hold good faith consultations and negotiations with a view to adopting appropriate amendments," the document states.
In addition, in the case of new military assistance to Ukraine from the United States, its value will be counted as a capital contribution of the American partner to the fund.
Let us remind
The so-called mineral agreement was signed by Ukraine and the United States on April 30.
First Deputy Prime Minister - Minister of Economy Yulia Svyrydenko clarified that Ukraine signed an agreement with the United States to create a reconstruction investment fund, detailing the details.
The Verkhovna Rada reported that the ratification of the agreement will not take place in the near future, the possible date is May 13-15, if they manage to submit the documents to the Verkhovna Rada. Prime Minister Denys Shmyhal "the Prime Minister should come to the Verkhovna Rada today and present it to the factions", after which the collection of votes will begin.