Ukraine and the United States have signed an agreement on natural resources, Ukrainian Economy Minister Yulia Svyrydenko reported .
"As agreed by President Volodymyr Zelensky and President Donald Trump, together with US Treasury Secretary Scott Bessent, I signed an agreement to create the US-Ukraine Recovery Investment Fund," Svyrydenko reported on Facebook. "The document is now such that it can ensure success for both of our countries - Ukraine and the United States."
According to the Minister of Economy, the agreement provides for the creation by Ukraine and the United States of a joint Investment Fund for the restoration of Ukraine, which will attract global investments to Ukraine. The key provisions of the document are as follows:
Full ownership and control remains with Ukraine
All resources on Ukrainian territory and in territorial waters belong to Ukraine. It is the Ukrainian state that determines where and what to extract. The subsoil remains Ukrainian property - this is secured by the agreement.
Equal partnership
The fund is created 50/50. Ukraine will manage this fund jointly with the United States. Neither side will have a dominant vote, and this will reflect an equal partnership between Ukraine and the United States.
National property is protected
The agreement does not envisage any changes to the privatization processes or management of state-owned companies - they will continue to belong to Ukraine. Companies like Ukrnafta and Energoatom will remain state-owned.
No debts
The agreement does not contain any mention of any debt obligations of Ukraine to the United States. The implementation of the agreement will allow both countries to increase their economic potential through equal cooperation and investment.
The agreement complies with the Constitution and does not change the European integration course
The document is consistent with national legislation and does not contradict any international obligations of Ukraine. It is important that the agreement will be a signal to other global players that it is reliable to cooperate with Ukraine in the long term - for decades.
The fund will be filled exclusively with income from new licenses.
The agreement is about 50% of the funds from new licenses for projects in the field of critical materials, oil and gas, which will go to the budget after the creation of the fund. Revenues from already launched projects or planned budget revenues are not included in the fund. The agreement talks about further strategic cooperation.
Legislative changes are only targeted
The fund's operation requires only amendments to the Budget Code. The agreement itself must be ratified by the Verkhovna Rada.
The US will help attract additional investments and technologies
The fund is supported by the US government through the DFC agency, which will help Ukraine attract investment and technology from funds and companies in the US, the EU and other countries that support Ukraine's fight against the Russian aggressor. Transfer and development of technology is an important component of the agreement, because Ukraine needs not only investment, but also innovation.
The agreement provides tax guarantees
The fund's income and contributions are not taxed in either the US or Ukraine to ensure that investing yields the greatest possible results.
Sviridenko also explained how the fund will work.
"The US contributes to the fund. In addition to the funds themselves, they can also contribute new aid - for example, air defense systems for Ukraine. Ukraine contributes 50% of the state budget revenues from new rent for new licenses for new sites. Ukraine can also make additional contributions in addition to this basic one, if it deems it necessary. We are talking about cooperation for decades to come. Then the fund invests in projects for the extraction of minerals, oil and gas, as well as in related infrastructure or processing. Specific investment projects for which the funds will be directed, Ukraine and the US will jointly determine. It is important that the fund can invest exclusively in Ukraine," Sviridenko wrote.
"We have formed a version of the agreement that provides for mutually beneficial conditions for both states. This is an agreement in which the United States notes its desire to promote long-term peace in Ukraine and recognizes the contribution that Ukraine has made to global security by abandoning its nuclear arsenal. An agreement in which the United States notes its commitment to Ukrainian security, recovery and reconstruction," the Minister of Economy concluded.
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