The Committee recommended that the Rada ratify the agreement with the United States, but with a proposal
7 May 06:23
The Committee on Foreign Policy has supported the ratification of the agreement on subsoil between Ukraine and the United States as a whole. This was announced by MP Yaroslav Zheleznyak, "Komersant Ukrainian" reports
The MP said that the proposal was included in the text of the committee’s decision:
- Any additional agreements on the establishment of the Reconstruction Fund cannot contradict this agreement;
- this agreement is valid on the entire territory of Ukraine within internationally recognized borders.
“11 committee members voted in favor, one abstained, and two did not participate in the vote.
Zheleznyak noted that the ratification of the agreement in the Rada will take place on May 8.
As you know, on April 30, 2025, the First Vice Prime Minister of Ukraine and Minister of Economy of Ukraine Yulia Svyrydenko and U.S. Secretary of the Treasury Scott Bessent signed an agreement between the Government of Ukraine and the Government of the United States of America to establish the U.S.-Ukraine Reconstruction Investment Fund.
on May 1, a draft law on the ratification of the Agreement between the Government of Ukraine and the Government of the United States of America on the Establishment of the U.S.-Ukraine Reconstruction Investment Fund was submitted to the Parliament.
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Subsoil Agreement: main provisions
Full ownership and control remain with Ukraine
All resources on our territory and in our territorial waters belong to Ukraine. It is the Ukrainian state that determines where and what to extract. Subsoil remains in Ukrainian ownership – this is enshrined in the agreement.
Equal partnership
The Fund is being created on a 50/50 basis. We will manage the Fund jointly with the United States. Neither party will have a majority vote, and this will reflect the equal partnership between Ukraine and the United States.
National property is protected
The agreement does not change the privatization process or the management of state-owned companies – they will continue to be owned by Ukraine. Companies such as Ukrnafta or Energoatom will remain state-owned.
No debts
The agreement does not mention any debt obligations of Ukraine to the United States. Implementation of the agreement will allow both countries to increase their economic potential through equal cooperation and investment.
The agreement is consistent with the Constitution and does not change Ukraine’s European integration course
The document is consistent with national legislation and does not contradict any of Ukraine’s international obligations. It is important that the agreement will signal to other global players that it is reliable to cooperate with Ukraine in the long term – for decades.
The Fund will be filled with revenues exclusively from NEW licenses
We are talking about 50% of the funds from new licenses for projects in the field of critical materials and oil and gas that will go to the budget after the Fund is created. Revenues from projects already launched or budgeted revenues are not included in the Fund. The agreement refers to further strategic cooperation.
Legislative changes are only pointwise
Only amendments to the Budget Code are required for the Fund to function. The Agreement itself must be ratified by the Verkhovna Rada.
The US will help attract additional investments and technologies
The Fund is supported by the U.S. government through the DFC agency, which will help us attract investment and technology from funds and companies in the U.S., the EU and other countries that support our fight against the Russian enemy. Technology transfer and development is an important component of the Agreement, as we need not only investment but also innovation.
The Agreement provides tax guarantees
The Fund’s income and contributions are not taxed in the United States or Ukraine to ensure that investments yield the greatest possible results.
How the Fund will work
The United States makes a contribution to the Fund. In addition to direct funds, they can contribute NEW assistance, such as air defense systems for Ukraine.
Ukraine contributes 50% of the state budget revenues from NEW royalties on NEW licenses for NEW fields. Ukraine can also make additional contributions beyond this basic one, if it deems it necessary. We are talking about cooperation for decades to come.
The Fund then invests in mining and oil and gas projects, as well as related infrastructure or processing. Ukraine and the United States will jointly determine the specific investment projects to which the funds will be allocated. Importantly, the Fund can invest exclusively in Ukraine.
