The Cabinet of Ministers approved the decisions necessary for signing an agreement with the USA regarding the extraction of Ukrainian minerals at its meeting on February 26.
This was announced by Prime Minister Denys Shmyhal on Telegram.
Framework Agreement with the USA on Minerals: What the Project EntailsIn the infographic – key points of the framework agreement between Ukraine and the USA regarding minerals.According to him, the signing of the document will be a significant step in the implementation of the "victory plan."
"There is no longer a debt of 500 billion dollars or any other. The unfair clause that for every 1 dollar of new aid Ukraine had to give back 2 dollars is gone. There are no unfair positions stating that the fund will belong only to America," Shmyhal added.
He also specified that the agreement will contain six key points:
Ukraine and the USA will establish a Recovery Investment Fund, which will be jointly owned and managed by the governments of both countries.
Ukrainian subsoil and resources will remain under Ukrainian ownership; they will not be transferred to the USA or anyone else.
Ukraine will contribute 50% of future revenues from its natural resource assets to the Fund.
The USA will contribute to the Fund in the form of funds, financial instruments, and other assets critical for the recovery of Ukraine.
Funds collected by the Fund will be invested exclusively in projects for the recovery of Ukraine.
The agreement takes into account Ukraine's commitments within the framework of the European integration process.
It is worth noting that today President Volodymyr Zelensky announced that a framework agreement on natural minerals has been agreed between the USA and Ukraine, which does not require ratification by parliament. He clarified that there is no debt on Ukraine's part "neither 500, nor 350, nor 100 billion dollars."
Subsequently, US President Donald Trump indicated that Zelensky would visit Washington to sign the minerals agreement. The visit is scheduled for February 28.