“Powerful signal to Russia”: The White House assessed the signing of the agreement between Ukraine and the United States and clarified its details

The US and Ukraine have entered into a historic agreement, launching a first-of-its-kind partnership for Ukraine’s recovery and long-term economic success. This is stated in a statement by the White House, reports UNN.

DetailsIt is noted that from beginning to end, this agreement is a “partnership between our countries based on full cooperation, and both the United States and Ukraine will benefit from it.”

This partnership signifies the United States’ economic interest in ensuring a free, peaceful, and sovereign future for Ukraine. This agreement will also strengthen the strategic partnership between the United States and Ukraine for long-term reconstruction and modernization in response to the large-scale destruction caused by Russia’s full-scale invasion.

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They clarified the main details of the agreement:

• a fund will be created to receive 50% of royalties, license fees, and other similar payments from natural resource extraction projects in Ukraine;

• these funds will be invested in new projects in Ukraine that will bring long-term returns to both the American and Ukrainian people;

• as new projects are identified, the fund’s resources can be quickly directed to economic growth, job creation, and other key development priorities of Ukraine;

• indirectly, the private sector will be strengthened and a stronger and more durable infrastructure will be created for Ukraine’s long-term success;

• the partnership will be overseen by a company with equal representation of three Ukrainian and three American board members who will jointly make decisions on the allocation of the fund’s resources;

• the partnership will also ensure the highest level of transparency and accountability so that the people of Ukraine and the United States can enjoy the fruits of Ukraine’s recovery;

• natural resource projects will include the extraction of minerals, hydrocarbons, and the development of related infrastructure;

• if the United States decides to acquire these resources for itself, it will be given the right of first refusal – either to purchase them or to choose a buyer.

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“Importantly, this partnership sends a strong signal to Russia: the United States has a special role to play and is committed to Ukraine’s long-term success. No state or individual who has financed or supported the Russian military machine will be allowed to benefit from Ukraine’s reconstruction, including participation in projects supported by the fund’s resources,” the White House summarized.

Let us remind youUkraine signed an agreement with the United States of America on the establishment of the Reconstruction Investment Fund. This was announced by First Deputy Prime Minister – Minister of Economy Yulia Svyrydenko.

Later she spoke about the key provisions of the signed Agreement. She noted that Ukraine and the United States have formed a version of the agreement that provides for mutually beneficial terms for both countries.

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