Fresh draft agreement on subsoil: US has 100% ownership of Ukraine recovery fund
www.pravda.com.ua
Sat, 22 Feb 2025 17:56:03 +0200
An agreement between the United States and Ukraine provides for the establishment of a commercial fund owned by the United States and financed by Ukraine.
Source the text of the deal updated as of the evening of 21 February, obtained by Ekonomichna Pravda Details Under the agreement, Kyiv and Washington will set up the Reconstruction Investment Fund for Ukraines recovery, with the US maintaining 100 financial interest.
Both countries will manage the fund jointly.
The fund is expected to double foreign direct investment in Ukraine for every dollar contributed, aiming to restore the countrys GDP to its late 2021 level.
The Investment Fund will receive 50 of 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 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 occupied by Russia at the time of signing the agreement may exceed 50 in the event of their liberation.
Ukraines revenue contributions to the fund will continue until the agreedupon amount is met.
Any noncredit financial assistance from the United States provided after the agreements signing will raise the threshold for Ukraines required contributions.
According to the agreement, 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 Ukraines other international obligations nor its future integration into the EU or other associations.
Ukraine and the United States commit to immediately begin drafting a separate agreement defining the details of the future Fund.
Ukraines Ministry of Economy will be responsible for drafting the future agreement.
Read also Trading metals for security which resources interest Trump, and what can Ukraine offer Background Scott Bessent, US Secretary of the Treasury, arrived in Kyiv on 13 February to discuss economic partnership with Ukraine.
At the time, Zelenskyy said that the US had handed over to Kyiv the first draft of a partnership agreement that provides for investment in Ukraines mineral resources in exchange for further assistance.
Media reports indicate that the Trump administration proposed granting the US a 50 stake in Ukraines rare earth minerals, but Zelenskyy declined to sign the agreement.
On 15 February, Zelenskyy stated that Ukraine was not abandoning the minerals deal announced by US President Donald Trump but that the document was not ready for signing.
On 20 February, US President Donald Trump claimed that Ukraine had scrapped the rare earths deal.
Support Ukrainska Pravda on Patreon
Latest news
more news