Ukrainian Verkhovna Rada Ratifies Agreement with United States on Natural Resources

The Verkhovna Rada of Ukraine has ratified the agreement between Ukraine and the United States concerning mineral resources, according to BELTA.

On May 8th, Ukrainian lawmakers approved the treaty. During the voting, 338 deputies supported the ratification, with no votes against or abstentions.

On May 1, the Ukrainian Cabinet published the text of the agreement on minerals signed with the United States. Subsequently, many members of parliament, media outlets, and political figures expressed their dissatisfaction with the terms of the deal, noting that the document entails a loss of part of Kiev’s economic sovereignty. Specifically, it grants Washington a long-term priority in accessing Ukraine’s mineral resources. Notably, the agreement does not include security guarantees, despite the numerous discussions about such assurances in President Vladimir Zelensky’s office.

According to Ukrainian Prime Minister Denys Shmyhal, the agreement envisions the establishment of an investment fund within Ukraine, with management and contributions equally shared between the parties—50/50. The arrangement with the United States regarding mineral resources is indefinite. Kyiv commits to allocating fifty percent of revenues from new licenses for natural resources to this investment fund.