The resource agreement is signed

Ukraine and the United States have signed a mineral agreement

This Agreement is part of a wider document on the creation of an investment fund of US reconstruction – Ukraine, The first Viceremier-Minister-Minister of Economy Yulia Sviridenko reported.

“The fund will attract global investments in our country,” she said.

The key provisions of the document:

1) Full property and control of resources remain in Ukraine.

2) Equal partnership – the fund is created 50/50 and will be managed in conjunction with the US. None of the parties will have a predominant voice.

3) national property is protected – no changes in the processes of privatization or management of state -owned companies are expected. Companies like Ukrnafta or Energoatom remain the state.

4) No debt – the implementation of the agreement will allow both countries to increase their economic potential by equal cooperation and investment.

5) the agreement corresponds to the Constitution and does not change the European integration course.

6) the fund will be filled with revenues exclusively from new licenses – revenues from the previously started projects or the revenues planned in the budget are not included in the fund.

7) legislative changes – only point – only amendments to the Budget Code are provided. The agreement itself should ratify the Verkhovna Rada.

8) The US will help attract additional investments and technologies

9) the agreement provides tax guarantees – the income and contributions of the Fund are not taxed in either the US or in Ukraine so that investing produces as much results as possible.

How will the agreement work: the United States gives money and assistance (such as air defense). Ukraine invests part of the income from new deposits. Together, they decide in which to invest – only in Ukraine. These can be prey, infrastructure, oil and gas.

The first 10 years of profits are not divided – everything will go to Ukraine’s rebuilding.

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