The agreement between Ukraine and the USA regarding minerals and the establishment of a joint investment fund, signed in the early hours of May 1, is beneficial for both Kyiv and Washington. It is particularly important for Ukraine that it will independently determine where and what will be extracted, while the subsoil will remain in Ukrainian ownership.
This is reported by Finway
This was reported during a telethon on May 1 by the First Deputy Prime Minister and Minister of Economy of Ukraine, Yulia Svyrydenko. She noted that the terms of the agreement do not foresee any changes in the privatization or management of state companies, which will continue to remain under Ukraine’s control.
According to the signed document, the subsoil remains in national ownership, and a special fund will be created with a 50/50 ratio between Ukraine and the USA.
“It is the Ukrainian state that determines where and what to extract. And the subsoil will remain in Ukrainian ownership. This is enshrined in the agreement. Secondly, of course, our national ownership is protected. The agreement does not foresee changes in the privatization process or changes in the management of state companies,” Svyrydenko stated.
It is worth noting that the agreement does not pertain to any debts of Ukraine or debt obligations to Washington. This document aims to enhance the economic potential of both countries through equitable cooperation and attracting foreign investments.
Previously, Ukraine’s trade representative Taras Kachka also confirmed that the agreement clearly states that Ukraine retains its sovereignty over resources, and all decisions regarding extraction will be made exclusively by the Ukrainian government.