Zelensky signed a bill ratifying the subsoil agreement with the US

President of Ukraine Volodymyr Zelensky signed a bill ratifying the agreement on minerals and establishing a reconstruction investment fund between Ukraine and the United States.

This is stated in draft law No. 0309.

The agreement provides for the following points:

• Ukraine retains full control. All natural resources on Ukrainian territory and in waters remain the property of Ukraine. Only the state decides what and where to extract. This is clearly spelled out in the agreement.
• A partnership on equal terms. The fund is being created on a 50:50 basis, and Ukraine will manage it jointly with the United States. Neither side will have an advantage — it is truly an equal partnership.
• State property is protected. The agreement does not change the privatization processes and management of state-owned companies — they will continue to belong to Ukraine. For example, “Ukrnafta” and “Energoatom” remain state-owned.
• No debts. The document does not provide for any financial obligations of Ukraine to the United States.
• The agreement does not contradict the Constitution of Ukraine or the course towards European integration. Everything complies with Ukrainian legislation and international obligations. This is also a positive signal to other partners — it is possible and worth working with Ukraine in the long term.
• The Fund will be filled with revenues exclusively from new licenses. This only concerns revenues from new licenses for the extraction of minerals, oil and gas. Revenues from projects that have already started or are planned in the state budget will not go to the Fund. The agreement concerns only future cooperation and new initiatives
• Minimum changes in laws. Only a slight update of the Budget Code is needed. The agreement must be ratified by the Verkhovna Rada.
• The US will help with investments and technologies. Through the DFC agency, the American side will facilitate the attraction of money and innovations from around the world — not only from the US, but also from the EU and other partner countries.
• Tax benefits for efficiency. The fund and its income will not be taxed in Ukraine and the US — so that investments produce better results.

How the Fund will work

The US contributes funds to the Fund, in particular, it may be new assistance — for example, air defense systems. Ukraine transfers 50% of the income from new rents on new licenses for new areas to the Fund. If necessary, it can also make additional contributions. This is about cooperation for decades to come.

The fund will invest in Ukrainian projects — mining, oil and gas, as well as in related infrastructure or processing. All investments will be jointly approved by Ukraine and the United States.

The fund is focused exclusively on Ukraine. In the first 10 years, it is expected that profits will not be distributed, but will be reinvested in new projects and reconstruction. This point will be discussed further.

The US Treasury Department noted that this economic partnership allows the two countries to work together and invest together so that resources, knowledge and capabilities can help restore the Ukrainian economy more quickly. US Treasury Secretary Scott Bessent called the document historic. According to him, this agreement clearly signals to Russia that the Trump administration is committed to a peace process "focused on a free, sovereign and prosperous Ukraine in the long term".

“President Trump envisioned this partnership between the American people and the Ukrainian people to demonstrate the commitment of both sides to lasting peace and prosperity in Ukraine. And, to be clear, no nation or individual that has funded or supplied the Russian war machine will be allowed to benefit from the reconstruction of Ukraine,” Bessent said.

Economy Minister Yulia Svyrydenko stated that this is an Agreement in which the United States notes its desire to contribute to achieving long-term peace in Ukraine and recognizes the contribution that Ukraine has made to global security by abandoning its nuclear arsenal.

The signing of the agreement was preceded by months of political battles between Ukraine and the US. Ukrainian Economy Minister Yulia Svyrydenko noted that in the end, a version of the agreement was formed that provides for mutually beneficial conditions for both countries.

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