50/50: Shmyhal Reveals Key Details of the Partnership Agreement on Subsoil Resources with the USA.

The Agreement on Subsoil Resources with the USA Will Be Signed Soon - Shmyhal

Prime Minister of Ukraine Denys Shmyhal reported that the agreement on subsoil resources with the United States will be signed within the next 24 hours. All main details have already been agreed upon and now the technical translation of the document from English to Ukrainian is being carried out, he noted.

According to Shmyhal, the agreement will be 'absolutely partnership-based', where the investment fund will receive equal shares in management and contributions. The agreement provides for monetary contributions and assistance from the USA, which will be credited to the fund.

The agreement also stipulates that the fund will invest in the development of Ukraine for 10 years and will facilitate the involvement of other international partners. Importantly, disputes regarding the agreement will be resolved through consultations, rather than according to its legislation.

After the signing of the agreement, two technical executive documents regarding the direct creation of the investment fund and its financing and contributions will be signed. The agreement will have international status and will be ratified in the Verkhovna Rada.

According to Bloomberg, as part of the agreement, the USA and Ukraine hope to increase investments in the mining industry, energy sector, and related technologies in Ukraine.

The Prime Minister emphasized that the agreement with the USA does not contradict Ukraine's accession to the European Union.

Analysis

The signing of the subsoil resources agreement with the United States is an important step for the development of Ukraine. It opens up opportunities for attracting investments and improving the mining and energy sectors in the country. The agreement provides for joint management of the investment fund, which will foster partnership relations between the USA and Ukraine. It is also important that disputes over the agreement will be resolved through consultations, which will positively impact cooperation between the parties. However, in order for the agreement to take effect, ratification in the Verkhovna Rada is necessary.