Photo: Prime Minister Denis Shmyhal (Vitaliy Nosach, RBC-Ukraine) Author: Natalia Kava
Ukraine and the United States have actually worked out the final version of the agreement on rare earth minerals. Today, this agreement is called the “Agreement on the Establishment of Rules and Conditions of the Investment Fund for the Restoration of Ukraine.”
As reported by RBC-Ukraine, Ukrainian Prime Minister Denis Shmyhal spoke about this on the air of the national telethon.
“We have actually worked out the final version. Today, this agreement is called the “Agreement on the Establishment of Rules and Conditions for the Investment Fund for the Restoration of Ukraine.” In fact, this is a preliminary agreement that will have legal force. It provides for the creation of an investment fund for the restoration of Ukraine, which Ukraine and the United States will jointly manage and fill,” Shmyhal said.
According to him, this agreement is directly related to Ukraine's security guarantees, and neither President Volodymyr Zelensky nor the Cabinet of Ministers will consider it without this.
“The preamble to the agreement states very clearly that, given the desire of the American people to invest together with Ukraine in a free, sovereign and secure state, this is the beginning of the agreement. I quote the text directly, and this is important for us to understand for what purpose it was concluded. The secure nature of this agreement is the number one priority for our country, government and president,” the prime minister emphasized.
The agreement contains a reference to the Budapest Memorandum, which highlights Ukraine's contribution to international security by giving up the world's third-largest nuclear arsenal.
The document is expected to be reviewed by the Ukrainian government and finally agreed upon during negotiations between the presidents of Ukraine and the United States.
The main provisions of the rare earth metals agreement are:
- creation of an investment fund – Ukraine and the United States will equally manage the Ukraine Recovery Fund;
- Linked to security guarantees – the agreement is part of the security architecture, including support for Ukraine's accession to NATO or alternative guarantees;
- financing of the fund – 50% of Ukraine's income from rent or licenses for minerals and dividends on infrastructure facilities will be directed to the fund;
- joint contributions from the United States and Ukraine – funds will be invested in the reconstruction, economy and security of Ukraine;
- recognition of Ukraine's contribution to international security – mention of the renunciation of the nuclear arsenal (reference to the Budapest Memorandum);
- The fund is managed jointly by the governments of Ukraine and the United States.
The agreement has been agreed upon
Yesterday, the Financial Times, citing sources, wrote that Ukraine and the United States had agreed on the details of an agreement on rare earth metals. The text noted that Ukraine was ready to sign an agreement that envisages joint development of its mineral resources, including oil and gas, with the United States.
According to the FT, the final version of the agreement envisages the creation of a fund to which Ukraine will contribute 50 percent of the income from the sale of rare earth resources.
Why the US is so interested in gaining access to Ukrainian raw materials and what Ukraine could receive from American companies in return – in the material from RBC-Ukraine.
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