Ukraine’s Rada ratifies US minerals deal with 338 votes
The Ukrainian parliament ratified a minerals agreement with the United States on Thursday, with 338 votes, establishing a 50/50 Reconstruction Investment Fund, as evidenced during a session attended by Prime Minister Denys Shmyhal and other officials.
Economy Minister Yulia Svyrydenko, speaking before the vote, assured that the agreement, signed with U.S. Treasury Secretary Scott Bessent on April 30, prioritizes Ukraine’s interests.
“President Volodymyr Zelenskyy clearly tasked us to ensure absolute equality and respect for Ukraine’s national interests,” she said,
She emphasized that the deal involves no debt, maintains Ukraine’s control over its resources, and protects national property, though some MPs shouted “Shame” during her speech.
The session, attended by Shmyhal, Foreign Minister Andrii Sybiha, and Svyrydenko, was streamed live.
More about the deal
Ukrainian Economy Minister Yulia Svyrydenko and U.S. Treasury Secretary Scott Bessent signed an agreement between the two countries on April 30 to establish a Reconstruction Investment Fund. It became known in the media as the “subsoil agreement” or “minerals agreement,” as it concerns the extraction of minerals on the territory of Ukraine. Its text was published on the website of the Cabinet of Ministers.
As Prime Minister Denys Shmyhal noted, the document is based on five key principles:
- The fund is created on a 50/50 basis, and both parties have equal voting rights.
- Ukraine retains full control over its subsoil, infrastructure, and natural resources.
- New investments, not debts: the agreement does not provide for any debt obligations.
- The fund will invest in projects and guarantee commercial purchases of products on a "take or pay" basis.
- The agreement will not constitute an obstacle to Ukraine's accession to the EU.
Read more about the content of the agreement and what consequences Ukraine will receive from it in our article.