Zelenskyy approves ratification of agreement with US on minerals

President of Ukraine Volodymyr Zelenskyy has signed a bill on the ratification of the agreement on minerals between Ukraine and the United States, which provides for the creation of an investment fund where Ukraine retains control over resources, according to the card of draft law No. 0309, Report informs via UNN.

On May 8, the Verkhovna Rada (Parliament) of Ukraine ratified the agreement on minerals between Ukraine and the United States. The agreement provides for the creation of an investment fund where Ukraine retains control over resources.

Prime Minister Denys Shmyhal announced that the agreement is based on five key principles:

• Equality: The Fund is created on a 50/50 basis and both parties have equal voting rights;

• Maintaining control: Ukraine retains full control over mineral resources, infrastructure and natural resources;

• New investments, not debts: the agreement does not provide for any debt obligations;

• Guaranteed investors and buyers: The Fund will invest in projects and guarantee commercial purchases of products on a "take or pay" basis;

• Compliance with the European integration course: the agreement will not be an obstacle to Ukraine's membership in the EU.