The full text of the subsoil agreement, which the US and Ukraine plan to sign soon, has been obtained by the media. The document proposes the creation of an investment fund for Ukraine’s reconstruction; however, it does not include security guarantees from Washington.
According to the draft agreement, the US only “supports Ukraine’s efforts” to obtain security guarantees but does not provide them directly. Financial resources generated from the monetization of Ukraine’s natural resources will be directed into a joint fund, though the details of its management remain unclear.
The fund will be filled with 50% of the revenues from the future monetization of Ukraine’s natural resources, along with contributions from the US. However, the funds will be reinvested in Ukraine at least once a year, without a specified amount.
According to the document, the US government intends to retain control over its share in the fund under American law. This means that US representatives managing the fund will make decisions based on US legal norms rather than Ukrainian ones.
The agreement is expected to be ratified by the Ukrainian parliament, with its details to be finalized in a future fund agreement. Earlier reports indicated that the deal would not affect existing deposits or the operations of Naftogaz. It is focused on future developments.
