The agreement on minerals between Ukraine and the United States does not provide for the transfer of rights to use mineral resources or any property rights, and therefore does not require a referendum. This was stated by the Vice Prime Minister for European and Euro-Atlantic Integration of Ukraine - Minister of Justice of Ukraine Olha Stefanishyna in an interview with "Legal Practice", reports UNN.
Details
First of all, we must understand that this agreement is not an international treaty. That is, it does not fall under the law on international treaties, the procedures provided for the coordination and approval of international treaties do not apply to it. A further agreement that provides for the creation of the Investment Recovery Fund itself will be an international treaty
The agreement enshrines a political agreement between the governments of Ukraine and the United States regarding the intention to create the Fund and provides for the main elements that should be enshrined in the next agreement, which will already be subject to ratification by parliament and will be an international treaty.
"As for the Fund, it will be filled with funds generated from the rights to use Ukrainian mineral resources. These funds will be directed to the Fund and reinvested in Ukraine. It is expected that the Fund will be jointly owned by Ukraine and the United States," Stefanishyna adds.
She emphasizes that the agreement does not provide for the transfer of rights to use mineral resources or any property rights, and therefore does not require a referendum.
"If it was about the use of Ukraine's mineral resources or the right to Ukrainian mineral resources, then, of course, this issue is not only ratification, but also, indeed, a referendum. After all, we all know the obvious truth from the Constitution of Ukraine that mineral resources belong to the people of Ukraine. The agreement does not provide for the transfer of rights to use mineral resources or any property rights. It is about the distribution of revenues to the state budget, part of which is generated in the Fund," the minister said.
According to her, no legal consequences occur after the signing of this agreement.
"That is, Ukraine does not receive obligations regarding the actual transfer of funds or their transfer. Such obligations will arise only after the conclusion of an agreement on the establishment of the Fund and, accordingly, the implementation of all necessary procedures in order for the institution itself to start working after its entry into force," Stefanishyna added.
Let us remind
President of Ukraine Volodymyr Zelenskyy stated that Ukraine is ready to sign a framework agreement on rare earth metals.
Presidents of the United States and Ukraine agreed to quickly conclude an agreement on the development of critical mineral resources. The agreement should strengthen the economy and ensure the long-term security of Ukraine.
UNN reported that the governments of the United States and Ukraine should discuss the final signing of an agreement on mineral resources, which provides for the creation of an investment fund for the reconstruction of Ukraine. The United States expects to receive about $20 billion from the rare earth minerals agreement.