Ukraine, US sign minerals investment fund agreement

The agreement creates a Reconstruction Investment Fund to attract global investments, with Svyrydenko emphasizing its mutually beneficial terms.

"We have formed a version of the agreement that provides mutually beneficial conditions for both countries. This is an agreement in which the United States notes its commitment to promoting long-term peace in Ukraine and recognizes the contribution that Ukraine has made to global security by giving up its nuclear arsenal. It is an agreement in which the United States recognizes its commitment to Ukraine's security, recovery and reconstruction," Svyrydenko said.

Bessent called the agreement "historic". He also noted that the document "clearly signals" to Russia that the administration of U.S. President Donald Trump is "committed to a peace process centered on a free, sovereign, and prosperous Ukraine over the long term."

Key provisions of the agreement

1. Full ownership and control remain with Ukraine. All resources on Ukrainian territory and in territorial waters belong to Ukraine. It is Kyiv that determines where and what to extract.
2. Equal partnership. The fund is created 50/50, so neither party will have a majority vote.
3. National property is protected. The agreement does not envisage changes in the privatization processes or management of state-owned companies - they will continue to belong to Ukraine. In particular, this applies to Ukrnafta or Energoatom.
4. The agreement does not contain any mention of Ukraine's debt obligations to the United States.
5. The document is consistent with national legislation and does not contradict any international obligations of Ukraine, and therefore does not change its European integration course.

6. The fund will be filled with revenues only from new licenses. This means 50% of the funds from new licenses for projects in the critical materials and oil and gas sectors, which will be transferred to the budget after the fund is established.

   Revenues from projects already underway, or budgeted revenues, are not included in the fund.

7. Legislative changes are only spotty. Only amendments to the Budget Code are envisaged for the operation of the fund. The Agreement itself must be ratified by the Verkhovna Rada.
8. The fund is supported by the US government through the DFC agency, which will help attract investments and technologies to Ukraine from funds and companies from different countries.
9. The agreement provides tax guarantees. the fund's income and contributions are not taxed in either the US or Ukraine, so that the investment yields the greatest possible results.

How will the fund work?

As Svyrydenko explained, the United States is contributing to the fund. In addition to direct funds, they can also provide new assistance — for example, air defense systems for Ukraine.

And Ukraine contributes 50% of the state budget revenues from new rent for new licenses for new sites. Kyiv can also make additional contributions beyond this basic amount if it deems necessary.

The fund will then invest in mineral and oil and gas projects, as well as related infrastructure or processing. The specific investment projects to which the funds will be directed will be determined jointly by Ukraine and the United States. The fund can invest only in Ukraine.

Kyiv expects that for the first 10 years, the fund's profits and revenues will not be distributed, but can only be invested in Ukraine - in new projects or reconstruction. These conditions will be discussed additionally.

Support hromadske