Ukraine’s parliament ratifies minerals deal with US
Ukraine’s Verkhovna Rada (Parliament) on Thursday ratified the strategic minerals deal signed between Kyiv and Washington.
As many as 338 deputies voted for the ratification of the agreement between the governments of Ukraine and the US on the establishment of the American-Ukrainian Investment Fund for Reconstruction, News.Az reports, citing UNN.
Prime Minister Denys Shmyhal earlier stated 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;
• preservation of 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 will guarantee commercial purchases of products on a "take or pay" basis;
• consistency with the European integration course: the agreement will not be an obstacle for Ukraine to acquire EU membership.
The Ukrainian government expects that the Investment Fund for Reconstruction under the agreement with the US will be fully operational within a few weeks.
Similar news
