Ukrainian Cabinet of Ministers submits draft law to Verkhovna Rada on ratifying minerals deal
The Verkhovna Rada will consider the draft law on the ratification of the subsoil use agreement (Photo: Getty Images)
The Cabinet of Ministers has submitted a draft law to the Verkhovna Rada for the ratification of the Agreement between Ukraine and the US on the creation of an Investment Fund for Reconstruction, according to the Telegram of the government’s permanent representative in the Verkhovna Rada, Taras Melnychuk.
The draft law is titled On the Ratification of the Agreement Between the Government of Ukraine and the Government of the United States of America on the Creation of the Ukrainian-American Investment Fund for Reconstruction.
The registration number of the document is 0309.
Ukraine-US minerals deal
On Thursday, May 1, the US and Ukraine signed an agreement on economic cooperation, also known as the minerals deal.
The document provides for the creation of an investment fund that will accumulate and distribute funds collected from the sale of Ukrainian mineral resources. At the same time, control over the subsoil will remain entirely with Ukraine.
According to experts, the agreement is expected to help develop Ukraine’s mining industry.
Washington expects the agreement to be ratified by the Verkhovna Rada within the week.
For more details on the content of the agreement and what will happen after its signing, read the article by RBC-Ukraine.
Additionally, immediately after the agreement was signed, the administration of Donald Trump launched a mechanism for the sale of weapons to Ukraine worth $50 million.
