Ukraine set to ratify landmark mineral agreement with U.S.
In a pivotal move aligned with the Law of Ukraine "On International Treaties," Ukraine's Parliament, known as the Verkhovna Rada, is expected to ratify a significant agreement between Ukraine and the United States. The signatories of this landmark document are anticipated to be Ukraine's Finance Minister Yulia Svyrydenko and her U.S. counterpart, Secretary Scott Bessent. Ukrainian journalists have unveiled the full text of this crucial mineral agreement, which is reported to include security guarantees. This has been reported by Evropeyska Pravda.
A new joint initiative, the Reconstruction Investment Fund, is on the cards, spearheaded collaboratively by both nations. The agreement ensures that neither side will sell, transfer, or otherwise divest their stake in the fund without mutual consent. Notably, Ukraine will allocate half of its revenues from the future monetization of its state-owned natural resources—like minerals, hydrocarbons, oil, and natural gas—into this fund.
Furthermore, the fund is set to reimburse Ukraine’s government for actual expenditures on projects from which it earns income. These contributions are mandated to be reinvested in Ukraine at least annually, supporting the nation's security, defense, and prosperity. This will form the crux of an additional agreement, which is expected to bear the signatures of both the Ukrainian and U.S. finance ministers, Yulia Svyrydenko and Scott Bessent, respectively—although this could still change.
The agreement underscores a shared commitment between the American people and Ukrainians to invest in a free, sovereign, and secure Ukraine, aiming for lasting peace and a strong partnership. Historically, Ukraine's contribution to international peace and security, marked by its voluntary disarmament of the world's third-largest nuclear arsenal, is highlighted. The U.S. government is pledged to long-term financial commitments for creating a stable and prosperous Ukrainian economy.
The agreement promises robust security guarantees, with the U.S. committing to aid Ukraine in securing these vital safeguards as the nation seeks enduring peace. Measures to protect mutual investments are a focus, and any necessary steps will be diligently pursued. The Ukrainian legislature is bound to ratify this agreement as part of its international treaty commitments.