MOSCOW, May 7. /TASS/. A Ukrainian parliamentary committee voted again for a bill to ratify a minerals deal with the United States which will make it possible to put the bill to vote in tomorrow’s session of the Verkhovna Rada, lawmaker Yaroslav Zheleznyak wrote on his Telegram channel.
At the initiative of the Batkivshchina opposition faction, a remark stating that legislators had not seen two other agreements supplementing the resources deal and therefore cannot approve them was added to the preamble of the document. Ukrainian officials claim that these documents outlining the functions of a joint US-Ukrainian investment fund have not been signed yet, and furthermore, they shall not be ratified. Members of the Batkivshchina and European Solidarity opposition parties demanded to review those as well.
The approved draft law on ratification does not include the proposal endorsed by the European Solidarity party stating that the minerals deal should cover Ukrainian territory as defined by the 1991 borders.
Meanwhile, the legislators who took part in the committee session did not fully comprehend exactly what text they were adopting. "I am confused as to what text and statements we are talking about," Zheleznyak quoted Ukraine’s top diplomat, Adnrey Sibiga, who presented the draft law, as saying. At the same time, the Ukrainian Foreign Ministry maintains that the addenda endorsed by lawmakers to the preamble of the bill on ratification have no legislative authority and cannot directly influence the content of the agreement with the United States.
Minerals deal
On May 1, the Ukrainian cabinet released the text of a minerals deal with the United States. After reviewing its contents, numerous media outlets and Rada members expressed their criticism of the terms of the deal, noting that it would mean the loss of part of Kiev’s control over its economic policy. Among other things, it would grant the United States long-term preferential access to Ukrainian mineral resources, without including any security guarantees that have been actively discussed in Vladimir Zelensky’s office.
After signing the agreement, Ukrainian First Deputy Prime Minister and Economy Minister Yulia Sviridenko said that Kiev would invest 50% of all revenues from new rents and mineral licenses in a joint investment fund. She also stated the partnership between the United States and Ukraine will be equal, while the deal includes no direct debt obligation to the United States. In the first 10 years of its operation, the fund will not pay dividends, with all its revenues to be reinvested in Ukraine. The proceeds will be allocated to projects for mineral development and processing, as well as infrastructure enhancement.