Reuters shows key details of a draft of framework on minerals between Ukraine and the United States, a copy of which – made on February 25 – was reviewed by the news agency.
Investment Fund for Reconstruction
- The document is entitled “Bilateral Agreement that establishes the terms and conditions for an investment fund for reconstruction”
- The two countries will establish an investment fund for reconstruction to collect and reinvest income from Ukrainian resources. Representatives of both countries will jointly administer the fund.
- A subsequent agreement on the Fund will be “negotiated promptly” after the conclusion of this agreement.
- Ukraine will contribute to the Fund with 50% of the income obtained from the Ukrainian state -owned natural resources that are developed in the future.
- The agreement does not mention specific assets, indicating that these will be defined in a subsequent agreement that must be voted in Parliament.
- Assets are “defined as mineral deposits, hydrocarbons, oil, natural gas and other removable materials, as well as other relevant infrastructure for natural resources assets (such as liquefied natural gas terminals and port infrastructure).”
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- “To avoid doubts, these future sources of income do not include current sources of income that are already part of the general budget of Ukraine.”
- The fund will aim to invest in Ukrainian projects and attract investments in public and private assets, including natural resources, infrastructure, ports and state companies.
- Contributions to the fund will be reinvested in Ukraine to promote “the security, stability and prosperity of Ukraine.”
Security guarantees
- The US government will support Ukraine efforts to obtain necessary security guarantees to establish lasting peace. Concrete security guarantees are not mentioned by the US, which is something that Kyiv hopes to obtain.
- “The United States government supports Ukraine efforts to obtain security guarantees necessary to establish lasting peace.”
- The United States will provide a long -term financial commitment for the development of a “stable and economically prosperous ukraine”.
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- The agreement will include “concrete measures to establish lasting peace and strengthen resilience in economic security.”
- According to the draft reviewed by Reuters, the agreement will be signed by the EU Treasury Secretary Scott Besent, and the Minister of Foreign Affairs of Ukraine, Andrii Sybiha.
With Reuters information
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