Zelenskyy Approves Ratification of Agreement with the US on Minerals
Kyiv • UNN
Volodymyr Zelenskyy approved the agreement between Ukraine and the United States on critical minerals. The President signed the law on ratification.
President of Ukraine Volodymyr Zelenskyy has signed a bill on the ratification of the agreement on minerals between Ukraine and the United States, which provides for the creation of an investment fund where Ukraine retains control over resources. This is reported by UNN with reference to the card of draft law No. 0309.
Returned with the signature of the President of Ukraine
Earlier, UNN reported that on May 8, the Verkhovna Rada ratified the agreement on minerals between Ukraine and the United States. The agreement provides for the creation of an investment fund where Ukraine retains control over resources.
Supplement
Prime Minister Denys Shmyhal reported that the agreement is based on five key principles:
• equality: The Fund is created on a 50/50 basis and both parties have equal voting rights;
• maintaining control: Ukraine retains full control over mineral resources, infrastructure and natural resources;
• new investments, not debts: the agreement does not provide for any debt obligations;
• guaranteed investors and buyers: The Fund will invest in projects and guarantee commercial purchases of products on a "take or pay" basis;
• compliance with the European integration course: the agreement will not be an obstacle to Ukraine's membership in the EU.
The Ministry of Economy reported that the US may contribute to the Investment Fund for Reconstruction with military aid or funds. Both mechanisms are being considered by the Americans.
The government expects that the Investment Fund for Reconstruction under the agreement with the United States will be fully operational within a few weeks.
Let us remind you
Ukraine has signed an agreement with the United States on the establishment of an Investment Fund for Reconstruction, which is called the agreement on minerals.
On May 2, the Cabinet of Ministers submitted to the Verkhovna Rada a draft law on the ratification of the Agreement between Ukraine and the United States on minerals.
