As stated in the Sviridenko message, the fund will be a joint initiative of the two states with an equal distribution of participation – 50/50. Fund funds will be invested exclusively in Ukraine – in mining, oil, gas, infrastructure and processing projects. At the same time, complete control over subsoil and resources remains for Ukraine, as well as the right to determine the conditions for the use of national resources.
According to the minister, among the main provisions of the agreement:
- Full property and control remain with Ukraine. All resources in the country and in territorial waters belong to Ukraine. It is the Ukrainian state that determines where and what to extract. The bowels remain in Ukrainian property – this is enshrined in agreement.
- Equal partnership. The fund is created 50/50. We will manage this fund together with the United States.
- National property is protected. The agreement does not provide for changes in privatization processes or management of state -owned companies – they will continue to belong to Ukraine. Companies such as Ukrnaft or Yenergatatu remain in the property of the state.
- No debts. The agreement does not contain references to any debt obligations of Ukraine to the United States.
- The agreement corresponds to the constitution and does not change the European integration course. The document is agreed with national legislation and does not contradict any international obligations of Ukraine.
- The fund will be filled with income exclusively from new licenses. We are talking about 50% of the funds from new licenses for projects in the field of critical materials and oil and gas, which will enter the budget after the creation of the fund. Revenues from already begun projects or the receipts planned in the budget are not included in the fund. The agreement is about further strategic cooperation.
- Legislative changes are only point. For the functioning of the fund, only amendments are provided to the budget code. The agreement itself must ratify the Verkhovna Rada.
- The United States will help attract additional investments and technologies. The Fund is supported by the US Government through the DFC agency, which will help attract investments and technologies from funds and companies in both the USA and the EU and other countries that support the fight against the Russian enemy.
- The agreement provides tax guarantees. The income and contributions of the Fund are not taxed either in the USA or in Ukraine, so that investment gives the greatest results.
The ministry notes that the United States contributes to the fund. In addition to directly funds, they can do it with new help – for example, air defense systems for Ukraine.
“Ukraine makes 50% of the state budget revenues from new rents to new licenses for new areas. Ukraine can also make additional contributions, except for this basic, if it considers it necessary. It is about cooperation for a decade for a decade. Further, the Fund invests in projects for mining and oil, and gas, as well as in the related infrastructure or processing. Specifics. Specifics. Specifics. Specifics. Specifics. Investment projects that will be sent to the USA and the United States will be determined together that the fund can invest exclusively in Ukraine, ”she said.
It is expected that the first 10 years of profit and arrival of the fund are not distributed, but can only be invested in Ukraine – in new projects or recovery. These conditions will be discussed additionally.
Context
RBC-Ukraine, citing sources, wrote that Ukraine and the USA can sign an agreement on the joint use of Ukrainian resources on April 30.
On the same day, the Financial Times, citing three Ukrainian officials, said that when the Sviridenko plane was heading to Washington, the US Minister of Finance Scott Scott Immain told her that she should “be ready to sign all the agreements or return home.”
Two Ukrainian officials stated the media that the United States wants to simultaneously sign both a framework agreement and a separate, more detailed agreement on an investment fund, which will manage income from mineral production. Another media interlocutor, familiar with the US position, said that negotiations were not completed, since Ukraine sought to reconsider the conditions agreed on last weekend.
The Ukrainian side explained to journalists that the US information is inaccurate and that Kyiv cannot sign both documents on Wednesday, since the Fund should ratify the Verkhovna Rada before signing.
Immentine said that the United States is ready to sign an agreement on subsoil with Ukraine, but Kyiv allegedly proposed new edits to the document.
Suprikaln, citing a source in the office of the President of Ukraine, writes that Ukraine did not offer amendments to the draft intergovernmental agreement on subsidiaries and rare earth metals.
Prime Minister Denis Shmygal said that the Cabinet of Ministers of Ukraine decided to sign a bilateral agreement with the United States on the creation of an investment recovery fund.
US President Donald Trump said he “did not want to conclude a difficult agreement” on minerals with Kiev, since “Ukraine does not have a lot of money.” “We entered into an agreement where our money is safe, where we can start drilling and do what we should do,” he told reporters at a press conference.
