Ukrainian Foreign Ministry reveals details of minerals deal with US
Photo: The Foreign Ministry said what the text of the minerals deal with the US contains (Vitalii Nosach RBC-Ukraine)
The text of the minerals deal between Ukraine and the US has been finalized. It contains no references to Ukraine’s debt or the repayment of future assistance, said Ukrainian Foreign Ministry spokesperson Heorhii Tykhyi in response to an RBC-Ukraine question during a briefing.
"Thanks to the work of the negotiating teams, we managed to refine the text. In our view, the agreement was significantly improved and is now suitable for Ukraine to sign. Overall, the text has become much better through the Ukrainian and American teams' joint efforts," Tykhyi said.
According to the spokesperson, the government approved the possibility of signing and authorized officials to sign the agreement.
"It is very important for us that the text does not mention Ukraine’s debt - not the $500 billion figure or any other debts," he added.
Additionally, Tykhyi noted that a provision requiring Ukraine to reimburse future aid at a rate of $2 for every $1 received was removed from the agreement.
"Another important aspect is the joint management of the Investment Recovery Fund. Ukraine and the US will jointly manage this fund. It will be filled in Ukraine and used for Ukraine, specifically for reconstruction investments," he emphasized.
Tykhyi also clarified that the agreement is a framework document, it's the first step and the beginning of the process.
"I urge you not to see it as a final document but as a framework agreement that initiates cooperation," he concluded.
Minerals deals with the United States
On February 26, the Cabinet of Ministers of Ukraine approved the text of a framework agreement with the US government. It is called the Agreement on Establishing the Rules and Conditions of the Investment Fund for the Reconstruction of Ukraine. According to Prime Minister Denys Shmyhal, the agreement has six key points.
President Volodymyr Zelenskyy praised the document. He also said that the next document will be more complex and will require ratification by the Verkhovna Rada (Ukrainian Parliament - ed).
Today, on February 27, it became known who will sign the natural resources agreement with the United States. The government authorized either First Vice Prime Minister and Minister of Economy Yuliia Svyrydenko or Foreign Minister Andrii Sybiha to sign the agreement.
