Ukrainian President Volodymyr Zelensky said that the agreement between Ukraine and the United States on the creation of the Investment Recovery Fund, which is planned to be signed today, will open the possibility of creating LNG terminals in Ukraine.
The head of the Ukrainian state announced this while delivering a short speech at the White House together with President Donald Trump, Ukrinform reports.
“There were no LNG terminals in Ukraine (terminals for receiving and regasifying liquefied gas – ed.). This document will open up such an opportunity. More precisely, the next document, but within the framework of this agreement we see very good conditions for the creation of such terminals,” Zelensky said.
The President noted that the creation of such terminals will be an important aspect for the security of Europe.
“We have the largest gas storage facilities in Europe,” Zelensky emphasized.
As reported by Ukrinform, delegations from Ukraine and the United States plan to sign a bilateral agreement on Friday to establish the rules and conditions of the investment recovery fund.
This agreement with the US will be a framework. In the future, the countries will work on an agreement to create an Investment Recovery Fund, which will require ratification by the Verkhovna Rada.
Prime Minister Denys Shmyhal specified the day before that this agreement on the creation of the Investment Recovery Fund will have six key provisions. First, Ukraine and the United States are creating the Investment Recovery Fund, which will be jointly owned and managed by the governments of both countries. Second, Ukrainian mineral resources and resources will remain Ukrainian and will not be transferred to the ownership of the United States or anyone else.
Under the third item, Ukraine will contribute 50% of future revenues from its natural resource assets to the Fund. Fourth, the United States will contribute to the Fund in the form of funds, financial instruments, and other assets that are critical to Ukraine's recovery.
According to the fifth position, the funds collected by the Fund will be invested exclusively in projects for the restoration of Ukraine. In particular, this concerns the Fund for Future Generations of Ukrainians.
Sixth position: the agreement takes into account Ukraine’s obligations within the framework of the European integration process.
Photo: EPA/Jim Lo Scalzo