Will US prioritize Ukrainian minerals development? Economy Ministry explains
Photo: First Deputy Prime Minister, Minister of Economy Yulia Svyrydenko (Vitalii Nosach, RBC-Ukraine)
In an interview with RBC-Ukraine, First Deputy Prime Minister and Minister of Economy Yuliia Svyrydenko says that if a Ukrainian company wants to engage in extraction and is seeking financing, it will be required to contact the Investment Fund. At the same time, the Fund must either find an American or other company interested in cooperation or decline the request.
As Svyrydenko clarified, if a Ukrainian company wants to extract, for example, lithium, but does not have its own funds and is looking for an external investor, it must contact the Fund — that is, inform the Fund about the project and the terms under which it is seeking investors.
In turn, the Fund must respond whether it is interested or whether it can find an American or other company that might be interested in the project. The Fund may also respond that it has no interest.
"At the same time, the company is allowed to negotiate with other investors, but for six months, it cannot offer them better terms than those presented to the Fund," the Minister of Economy added.
First Deputy Minister of Economy Oleksii Sobolev emphasized that there is no requirement for companies to negotiate only with the Fund. However, the proposal must be presented to the Fund first.
"You can submit a proposal to the Fund and then, for example, two minutes later, to the EBRD. Technically, you’ve met the requirement if you informed the Fund first. After that, you can negotiate in parallel with others. You just can't offer the Fund worse terms than those you offer to others," he said.
According to Sobolev, it doesn’t matter whether a private or state-owned company won the extraction license — this requirement will be included in the conditions.
"If you have your funds and are not seeking financing, there are no obligations. But if you are seeking external funding, then please inform the Fund," the First Deputy Minister of Economy added.
Ukraine–US minerals deal
On the night of May 1, Ukraine and the US signed an economic partnership agreement that provides for the creation of a Reconstruction Investment Fund and cooperation in the field of critical minerals.
The document requires ratification by the Verkhovna Rada (Ukrainian Parliament). This is expected to happen today, May 8.
The agreement concerns 57 Ukrainian minerals. However, many details will be outlined in a subsequent technical agreement.
US President Donald Trump stated that the signing of the minerals deal will protect US investments and the financial aid that Washington provides to Kyiv.
Ukraine's President Volodymyr Zelenskyy welcomed the signing of the agreement. According to him, it was the subject of his conversation with Trump at the Vatican.
