“In negotiations with the United States on the creation of a joint investment fund, that is, the so -called “subsoil agreement”, Ukraine was able to defend the parity management of this fund and avoided the subordination of US law in the event of disputes.”, – WRITE: www.pravda.com.ua
Source: Prime Minister of Ukraine Denis Shmigal on the air of the National Telelorphone on April 30, quotes “European Truth”
Direct language: “Ukraine and the United States are contributing to the Fund. The Fund is managed by partners 50 for 50 – three representatives in the Board of the Fund is provided by Ukraine and also three representatives provide the United States.”
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Details: Schmigal stressed that the weight of the voices of Ukrainian and American representatives will be equal, that is, Americans will not have a decisive voice.
The Government Head, who has previously informed that the agreement was planned to be signed during the day, said that the parties agreed on critically important details of the functioning of the new structure. Under the prepared agreement, the Fund will be formed by two parties – Ukraine and the USA. These two states will manage it on a parity basis.
In the previous project (EP “described it in the article” Trump with subsoil and Ukraine without rights “) the United States received virtually sole control over this fund.
Another important change to the project is that the Fund will not be subordinate to the US law.
“Disputes under this Agreement are resolved through mutual consultations. In the previous agreement it was stated [через розгляд в суді США] under US law. We removed it to make the deal really partner. This is an important achievement, ”the Prime Minister explained.
Also, he said, the Fund may attract other partners in Ukraine and provide financial support to their investments – if they consent to the board.
Schmigal also stressed that during the first ten years after the US Foundation will not be able to withdraw from Ukraine the profits from the Fund’s work.
“The funds of the Fund can be distributed by the parties’ agreement for the first time in ten years. For ten years, all profits have been reinvested in the development and rebuilding of Ukraine,” the Prime Minister said, stressing that Ukraine will make 50% of the funds from a new rent from minerals to the fund.