Ukrainian government approves resource deal with US

^{Photo: Telegram / Denys_Smyhal}
Kiev is ready to sign an agreement with the United States that will provide this country with access to Ukraine's mineral resources, including rare metals. This was stated in a message on Telegram by Ukrainian Prime Minister Denys Shmyhal, published on the evening of Wednesday, February 26.

"Today, the government is taking the necessary decisions to sign an agreement between Ukraine and the United States on the establishment of the Investment Recovery Fund," his post said.

Shmyhal listed the main points of this document. They stipulate that the Investment Recovery Fund will belong jointly to Ukraine and the United States and will be jointly managed by the governments of both states.

Shmyhal on the terms of the agreement with the US

“Ukraine’s mineral resources and mineral wealth remain the property of Ukraine; they will not be transferred to the ownership of the US or anyone else,” says Denis Shmyhal. According to him, Ukraine will transfer 50 percent of its future revenues from its natural resources to the Fund. In turn, the United States will contribute to the Fund in the form of “funds, financial instruments and other assets that are important for the reconstruction of Ukraine.”

“The funds raised by the Fund will be invested exclusively in projects aimed at the reconstruction of Ukraine. The agreement takes into account Ukraine’s obligations within the framework of the European integration process,” Shmyhal’s post says. Read 'Zamin' on Telegram!