US and Ukraine sign memorandum of understanding on mineral resources agreement
The United States and Ukraine have signed a memorandum of understanding on the intention to conclude a mineral resources agreement. The new project requires Kiev to pay aid compensation in the amount of more than $ 120 billion.
According to TASS on April 18, Ukraine's First Deputy Prime Minister and Minister of Economy Yulia Svyrydenko said that the US and Ukraine have signed a memorandum confirming their intention to sign an agreement on mineral resources.
She had earlier informed about the progress of the agreement and expressed hope that the document would be formalized soon.
"Today, we took a step towards the Joint Economic Partnership Agreement with the United States. Ukraine and the United States signed a Memorandum of Understanding confirming the constructive joint work of our teams and the intention to finalize and sign an agreement that would benefit both peoples," Svyrydenko wrote on her Facebook page on April 17.
The next step is to complete the work on drafting the agreement text and signing it, followed by ratification in parliaments, the Ukrainian Economy Minister added.
Ms. Svyrydenko added that the parties are preparing to create an investment fund for the recovery of Ukraine. According to her, the future agreement will open up opportunities for significant capital injections and modernization of Ukraine's infrastructure.
"First of all, the work on the text of the agreement and its signing is complete. And then the ratification by the parliaments. Thanks to our technical teams - Ukrainian and American - for their professional, constructive and prompt work," Minister Svyrydenko said.
The signing of the Ukraine mineral resources agreement collapsed in late February after a quarrel between US President Donald Trump and his Ukrainian counterpart Volodymyr Zelensky in the Oval Office of the White House. However, Mr. Trump later said he still wanted Kiev to sign the mineral resources agreement with the US.
On March 27, Kiev said it had received a revised version of the document from Washington that was much harsher than the previous version. The new project would require Ukraine to pay back more than $120 billion in aid. The United States would also take control of an investment fund set up to recover Ukraine, which would be deducted from Kiev’s income from licensing fees and mineral mining rents.
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