Zelenskyy signs law on ratification of agreement on subsoil resources
Ukrainian President Volodymyr Zelenskyy has signed a law ratifying the agreement between the governments of Ukraine and the United States of America on the establishment of the American-Ukrainian Investment Recovery Fund.
This is evidenced by the card of the bill on the Verkhovna Rada website on Monday.
As reported, the Verkhovna Rada ratified the agreement between the governments of Ukraine and the United States of America on the establishment of an investment recovery fund on May 8. Some 338 deputies voted for bill No. 0309 on ratification of the agreement.
According to the explanatory note, the draft law was developed with the aim of fulfilling the domestic procedures necessary for the entry into force of the Agreement between the Government of Ukraine and the Government of the United States of America on the Establishment of the American-Ukrainian Recovery Investment Fund, concluded in Washington D.C. on April 30, 2025 in accordance with the legislation of Ukraine.
On April 30, the United States and Ukraine signed an agreement to establish a Ukrainian-American investment recovery fund with a 50/50 participation distribution.
It contains 12 articles and a list of critical materials, and is of a financial nature. From Ukraine, the fund participant will be the Agency for Support of Public-Private Partnership under the jurisdiction of the Ministry of Economy, from the USA - the International Development Finance Corporation (DFC).
As previously explained by the Ministry of Economy, the Agreement will attract additional investments, will promote the development of innovations and the introduction of new technologies. The United States will help attract private and public investors to the restoration of Ukraine - foreign funds, companies, governments of states that support Ukraine's fight against Russian aggression. American companies will gain access to new opportunities that are opened by the joint development of natural resources and the restoration of Ukraine.
How the fund will operate: the agreement focuses on future, rather than past, U.S. military assistance.
Ukraine allocates 50% of future revenues from new rents for new licenses for new sites (in the sphere of critical raw materials, oil and gas) to the Fund. Revenues from already existing projects or planned budget revenues are not included in the Fund.
The Fund's resources are invested exclusively in Ukraine - in extractive projects or infrastructure restoration.
The first 10 years of profits are not distributed, but are fully reinvested in the Ukrainian economy. Then they can be distributed between partners.
The Fund is managed on a parity basis between Ukraine and the United States.
The United States will help attract additional investment and technology to the Ukrainian economy. The Fund supports the US government through the DFC agency, which will help attract investment and technology from funds and companies in the USA, the EU and other countries that support Ukraine's fight against the enemy. Technology transfer is an important component of the Agreement, because Ukraine needs not only investment, but also innovation.
The agreement provides tax guarantees. The Fund's income and contributions are not subject to taxation in either the United States or Ukraine.
This Agreement shall enter into force on the date of a later note upon exchange of notes between the parties that each party has completed its internal procedures for entry into force and shall remain in force until the parties agree to terminate it.
Let us recall that the fossils agreement with the United States concerns 57 minerals and military aid.