Ukrainian Parliament Moves to Ratify Agreement with United States on Natural Resources

Two hours ago, the Ukrainian government submitted a bill to the Verkhovna Rada aimed at ratifying an agreement with the United States concerning natural resources. The submission of the document has been confirmed on the parliament’s official website, reports TASS.

Alongside the bill, the full text of the agreement has also been provided to the parliament. "The government is counting on the support of parliamentarians for a swift ratification of this agreement," Ukrainian Prime Minister Denys Shmyhal stated via his Telegram channel.

Meanwhile, Member of Parliament Yaroslav Zheleznyak announced that the deal between Washington and Kiev regarding mineral resources will be put to a vote on ratification in the Rada on May 8.

The details of Ukraine’s agreement with the United States regarding subsoil assets became known on May 1. According to the document, Ukraine will contribute 50% of all revenues from the new rent and licenses for mineral extraction on newly designated sites to a bilateral investment fund. Both Ukraine and the United States will hold equal voting rights in the management of this fund. Importantly, the deal does not entail any direct debt obligations of Ukraine toward the United States.

Kyiv emphasizes that the agreement with the US concerning mineral resources is of indefinite duration and will take precedence over Ukrainian laws.