(Reuters) – Following are some key details of a draft framework minerals agreement between Ukraine and the United States, a copy of which – dated Feb. 25 – has been reviewed by Reuters.
RECONSTRUCTION INVESTMENT FUND
– The document is titled “BILATERAL AGREEMENT ESTABLISHING TERMS AND CONDITIONS FOR A RECONSTRUCTION INVESTMENT FUND”.
– The two countries will establish a Reconstruction Investment Fund to collect and reinvest revenues from Ukrainian resources. Representatives from both countries will jointly manage the fund.
– A subsequent agreement about the fund will be “negotiated promptly” after the conclusion of this agreement.
– Ukraine will contribute to the fund 50% of revenues earned from relevant Ukrainian state-owned natural resources developed in the future.
– The deal does not name the assets and says they will be defined in a later agreement that will go to a vote in parliament.
– The assets are “defined as deposits of minerals, hydrocarbons, oil, natural gas, and other extractable materials, and other infrastructure relevant to natural resource assets (such as liquefied natural gas terminals and port infrastructure).”
– “For the avoidance of doubt, such future sources of revenues do not include the current sources of revenues which are already part of the general budget revenues of Ukraine.”
– The fund will aim to invest in Ukrainian projects and attract investment in public and private assets including natural resources, infrastructure, ports and state-owned enterprises.
– Contributions to the fund will be reinvested in Ukraine to promote “the safety, security and prosperity of Ukraine”.
SECURITY GUARANTEES
– The U.S. government will support Ukraine’s efforts to obtain security guarantees needed to establish lasting peace. There is no mention of concrete U.S. security guarantees, which Kyiv hopes it can obtain.
– “The Government of the United States of America supports Ukraine’s efforts to obtain security guarantees needed to establish lasting peace.”
– The United States will provide a long-term financial commitment to the development of a “stable and economically prosperous Ukraine.”
– The agreement will include “concrete steps to establish lasting peace, and to strengthen economic security resilience.”
– The draft seen by Reuters says that the agreement will be signed by U.S. Treasury Secretary Scott Bessent and Ukrainian Foreign Minister Andrii Sybiha.
(Reporting by Tom Balmforth and Yuliia Dysa; editing by Philippa Fletcher)
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