New version of subsoil agreement provides for 100% US financial interest - media
The new version of the agreement between the US and Ukraine provides for the establishment of a commercial fund in which the US will have a 100% financial interest, and Ukraine will allocate funds to it until the amount agreed upon by the governments is reached.
According to Censor.NET, citing the EP, this is stated in the text of the agreement, which was valid as of the evening of 21 February.
It is noted that the document is to be signed by Ukrainian Foreign Minister Andrii Sybiha and US Secretary of State Marco Rubio.
Thus, according to the draft agreement, Ukraine and the United States are to establish a commercial investment fund for reconstruction, in which the United States will retain a 100% financial interest. Ukraine and the United States will manage it jointly.
The Fund is expected to help increase foreign direct investment in Ukraine by at least two times for every dollar contributed. The goal is to return Ukraine's GDP to the level of the end of 2021.
The Investment Fund will receive 50% of the revenues from Ukrainian mineral and oil and gas resources (net of actual costs) for reinvestment in the Ukrainian economy (mining and processing infrastructure, ports, etc.).
The draft agreement also provides for the redirection of revenues from other Ukrainian sources to be determined by the governments of Ukraine and the United States.
Revenues from facilities that were occupied by Russia at the time of signing the agreement may exceed 50% in the event of de-occupation.
Ukrainian revenue contributions to the fund will continue until the amount agreed upon by the government is reached. All non-credit financial assistance from the United States that comes to Ukraine after the agreement is signed will increase the threshold for Ukrainian revenue contributions.
According to the text, the United States intends to make a financial commitment to help Ukraine in an amount to be determined separately.
The agreement on the fund will not contradict Ukraine's other international obligations, as well as its future integration into the EU or other associations.
It is noted that Ukraine and the United States undertake to immediately begin drafting a separate agreement that will define the details of the Fund's future.
The Ministry of Economy will be responsible for preparing the future agreement on the part of Ukraine.
Earlier it was reported that next week the Ukrainian government will start working on a minerals agreement with the US, which should include security guarantees for our country.
Fossil fuel agreement with the US
As a reminder, Trump has said he wants to strike a $500bn deal with Ukrainian President Volodymyr Zelenskyy on access to rare earth resources and natural gas in Ukraine in exchange for security guarantees in any potential peace settlement.
President Zelenskyy said that the agreement with the US on minerals would be signed at the ministerial level when ready and subject to guarantees. Currently, this document is not ready to protect Ukraine's interest.
Later, Trump said that Ukraine had broken the deal on rare earth metals. The agreement was needed so that the US could recover the money spent on supporting Ukraine.
The administration of US President Donald Trump has handed over to Ukraine an "improved" draft minerals agreement that "complies with Ukrainian law".
