The government allocated UAH 113 million to prepare a subsoil agreement with the US

The Cabinet of Ministers has allocated 113 million hryvnias from the state budget reserve fund for consulting services to prepare a draft agreement on cooperation with the United States in the mineral sector.

The corresponding order No. 316 of April 8 was published on the government website.

The funds will be used to form Ukraineʼs negotiating position, taking into account the legislative features of both the Ukrainian and American sides, the document states. The agreement concerns the creation of a Reconstruction Investment Fund.

Of the allocated amount, the Ministry of Economy will receive 59 million hryvnias, and the Ministry of Justice will receive 54 million. By April 15, both ministries must attract professional consultants — experts who have experience in working with the Ukrainian government in the field of public debt, external borrowing, as well as lawyers from international law firms to assist in preparing negotiations for the conclusion of the agreement.

What is known about the subsoil agreement?

The US Treasury Secretary Scott Bessent brought a pilot draft of a minerals agreement to Ukraine on February 12. Washington hoped that Kyiv would sign it immediately, but President Volodymyr Zelensky said that he had banned the agreement from being signed because it would not protect Ukraineʼs interests — it had no connection to investments, profits, or security guarantees. After that, it began to be finalized.

The final agreement was supposed to be signed on February 28, during Zelenskyʼs visit to the White House. However, then US President Donald Trump and the President of Ukraine had a falling out — the Ukrainian delegation left the White House early. The document was not signed. However, both sides stated that negotiations on the agreement were ongoing.

The United States is now proposing a new deal on Ukrainian minerals, as well as oil and gas, without offering security guarantees in return. The Financial Times, which has seen the draft agreement, says Washington is aggressively expanding its demands. Kyiv believes this could undermine Ukraine’s sovereignty, divert profits abroad and deepen the country’s dependence on the United States.

However, Kyiv will ask to change the deal, demanding in return increased American investment. US President Donald Trump has already threatened Zelensky with “big problems” if he abandons the subsoil deal.

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