US and Ukraine agree on details of economic agreement on mineral resources - media
According to the new version of the agreement, the US will not fully own the fund jointly with Ukraine, but it does not provide security guarantees.
This was reported by Ekonomichna Pravda, citing its own sources, Censor.NET reports.
It is noted that the agreement is to be signed by Ukrainian Foreign Minister Andrii Sybiha and US Secretary of State Marco Rubio. According to the agreement, the United States and Ukraine are to create a Reconstruction Investment Fund.
The updated agreement excludes the provision that the US will have 100% control over the commercial fund. In the current wording, they will hold the maximum financial stake in the fund permitted by US law.
The share of the fund jointly owned by Ukraine and the United States will be determined based on each country's actual contributions.
Ukraine and the United States are expected to jointly manage the fund; however, the United States will retain decision-making authority in accordance with its own legislation.
A clause has been added to the agreement stipulating that neither Ukraine nor the United States may sell or transfer their shares in the Fund without the prior written consent of the other party.
The fund will receive 50% of the revenues generated from Ukrainian natural resources, ports, and resource-related infrastructure (including assets indirectly owned by the Ukrainian government) for reinvestment in the Ukrainian economy.
According to the EP, contributions made to the Fund will be reinvested at least once a year in the Ukrainian economy "to promote security and prosperity". The future agreement on the Fund will also provide for the distribution of funds in the future.
The updated version of the agreement excludes the provision that aimed to increase investment in Ukraine by at least two times for every dollar contributed, as well as the goal of returning Ukraine's GDP to the level of the end of 2021.
The provision stipulating that revenues from facilities that were occupied by Russia at the time of signing the agreement could exceed 50% in the event of de-occupation was also removed.
In addition, the new version of the agreement does not include the part that would extend Ukraine's revenue contributions to the fund to $500 billion. Also, the part where all US financial assistance is added to the amount that Ukraine has to "put" into the fund has been removed.
According to the text, the United States intends to make a financial commitment to help Ukraine in an amount to be determined separately.
At the same time, the agreement does not contain clear security guarantees.
Minerals agreement with the US
As a reminder, Trump has said he wants to strike a $500 million 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 interests.
Later, Trump said that Ukraine had disrupted the deal on rare earth metals. The agreement was needed so that the US could recover the money spent on supporting Ukraine.
Later, it was reported that the Trump administration had given Ukraine an "improved" draft of the minerals agreement that "complies with Ukrainian law".
President Volodymyr Zelenskyy said that if the United States wants to see specific figures in the minerals agreement, then according to Ukrainian law, ratification by the Verkhovna Rada will be necessary.
