Government approves signing of U.S.-Ukraine deal on minerals – PM Shmyhal

This was announced by Prime Minister Denys Shmyhal on Telegram, Ukrinform reports.

“Today, the Government is approving the decisions necessary to sign an agreement between Ukraine and the United States on the establishment of a Reconstruction Investment Fund,” he said.

Shmyhal clarified that the agreement will include six key provisions. According to the first one, Ukraine and the United States are establishing a Reconstruction Investment Fund, which will be jointly owned and jointly managed by the governments of both countries.

At the same time, Ukraine's minerals and resources remain Ukrainian and are not transferred to the United States or anyone else.

Third, Ukraine will contribute to the Fund 50% of revenues earned from its natural resource assets.

Fourth, the United States will contribute to the Fund in the form of funds, financial instruments, and other assets critical to Ukraine's reconstruction.

Fifth, the money raised by the Fund will be invested exclusively in projects for the reconstruction of Ukraine. The Prime Minister stressed that this is a fund for future generations of Ukrainians.

"Sixth, another important point is that the agreement takes into account our obligations within the European integration process. That is, there will be no contradictions and inconsistencies with our European integration obligations," Shmyhal added.

As Ukrinform reported, the U.S.-Ukraine agreement on critical minerals is a framework deal, and further work will be done on establishing an Investment Reconstruction Fund, which will require ratification by the Verkhovna Rada of Ukraine

Photo: Cabinet of Ministers