President Volodymyr Zelenskyy signed a law ratifying the agreement between Ukraine and the US on cooperation in the field of mineral resources. The document provides for the creation of a joint investment fund without debt obligations and with full control of Ukraine over subsoil resources.
This is stated in the bill on the website of the Verkhovna Rada.
On May 8, the Ukrainian parliament ratified the agreement between the US and Ukraine on mineral resources, which was voted for by 338 MPs.
On May 10, the bill was sent to the president for signature, who signed the document today.
The agreement between the US and Ukraine on the creation of a Reconstruction Investment Fund was signed on April 30.
As Prime Minister Denys Shmyhal explained, the document is based on five principles:
- Equality. The fund is created on a 50/50 basis, and both parties have equal voting rights.
- Preservation of control. Ukraine retains full control over its subsoil, infrastructure, and natural resources.
- New investments, not debt. 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.
- Consistency with the European integration course. The agreement will not constitute an obstacle to Ukraine’s accession to the EU.
The fund will be financed by contributions from the US and Ukraine. The fund’s profits will be reinvested exclusively in Ukraine.
Thanks to this agreement, we will be able to attract significant resources for reconstruction, start economic growth, and obtain the latest technologies from partners and strategic investors in the form of the US.