The signing of the subsoil agreement was again disrupted due to additional US demands: what they failed to agree on
30 April 2025 20:22
The agreement on subsoil between Ukraine and the United States is not likely to be signed today. This is reported by "Komersant Ukrainian" with reference to Reuters.
According to the agency, First Vice Prime Minister of Ukraine Yulia Svyrydenko is indeed flying to Washington to sign the agreement, but an obstacle arose at the last moment, presumably when the official was already in flight.
Two sources told Reuters that the signing could take place later on Wednesday (when it is night in Ukraine). But another source said that the US is pushing Ukraine to sign two additional documents in addition to the main agreement. And Ukraine is not ready to sign these documents.
“Who knows – maybe today they will take (these) two documents and finalize them as well,”
– the source said.
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What’s in the project
First of all, Ukraine has succeeded in canceling any requirement to return funds to the United States for past military aid.
Also, according to Reuters, the draft agreement states that it gives the United States preferential access to new deals on Ukraine’s natural resources, but does not automatically transfer to Washington a share of Ukraine’s mineral wealth or any of its gas infrastructure.
The draft envisages the creation of a joint US-Ukraine reconstruction fund that will receive 50% of the profits and royalties that come to the Ukrainian state from new permits for the extraction of natural resources in Ukraine.
At the same time, the document does not clearly state how the revenues of the joint fund will be spent, who will benefit from it, or who will control spending decisions.
Nevertheless, the Prime Minister of Ukraine is satisfied with the draft agreement.
“Indeed, this is a strategic agreement… this is a truly equal, good international agreement on joint investment in the development and restoration of Ukraine,”
– said Prime Minister Denys Shmyhal.
He also said that after signing the main agreement, the parties would agree on two additional technical documents that would outline issues such as the accumulation of funds. Obviously, they have not yet been agreed upon.
According to the prime minister, under the agreement, Ukraine will retain control over all its resources, while the fund will invest in Ukraine’s development for 10 years.
“Ukraine will contribute only from new licenses, from new royalties on mineral resources. This will be our contribution, 50% of which will be transferred to this fund,”
– he said.
Shmyhal added that the US could use its future military aid to Ukraine as its contribution to the fund, as the agreement does not reflect any previous military aid.
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