Ukrainian prime minister, Denys Shmyhal has provided details of the country’s new Minieral deal with the United States of America.
He said a new reconstruction and investment fund will be split 50-50 between his country and the US.
Ukraine and the US signed on Wednesday it means both nations would share future revenues from Ukraine’s minerals, with the US to keep military aid flowing to the country, as well as US investment into its defence and reconstruction.
Ukrainian prime minister, Denys Shmyhal, who shared details of the deal, said a new reconstruction and investment fund would be split 50-50 between Kyiv and the US, and give each side equal voting rights.
He said the deal would relate only to new investments, adding that it would not provide for any debt obligations against Ukraine, a key concern for Kyiv.
Ukraine would retain “full control over its mineral resources, infrastructure and natural resources,”; Shmyhal told reporters on Wednesday.
He said the deal would ensure revenue by establishing contracts on a “take-or-pay”; basis.
Also, the Ukrainian first deputy prime minister, Yulia Svyrydenko, said there would be no changes to ownership of state-owned companies, including Ukrnafta, Ukraine’s largest oil producer, and nuclear energy producer Energoatom.
She said that income and contributions to the fund would not be taxed in the US or Ukraine.
