Volodymyr Zelenskyy has officially signed the law ratifying the agreement with the United States on promoting mineral resource development and establishing a joint investment fund for Ukraine’s recovery
President Volodymyr Zelenskyy has completed the ratification process of one of the key bilateral agreements with the United States of America by signing the relevant law. This marked the final official step in implementing the agreement, which envisages intensified cooperation in the field of subsoil use and investment in Ukraine’s economic recovery. Background and details According to the official website of the Ukrainian president, on Monday, May 12, Law No. 0309, which ratifies the so-called "Mineral Resources Agreement" with the U.S., was officially returned with the head of state’s signature. On the same day, the necessary dissemination of the final document took place, completing the formal ratification procedures. Thus, Ukraine has fulfilled the internal legal formalities required for the agreement to come into effect. What is this about As reported on the Verkhovna Rada's website, on May 8, the parliament supported the ratification of this agreement and the decision to create the American-Ukrainian Investment Fund for the country’s recovery. This is an important step for the Ukrainian authorities, opening new opportunities for foreign investments in key sectors, particularly in exploration and extraction of mineral resources. Main objectives of the agreement Deputy Prime Minister and Minister of Economy Yulia Svyrydenko emphasized that the launch of the Ukrainian-American Investment Fund will become a reality within a few weeks after the official ratification. According to her, the creation of a joint fund will attract significant investments, including financing for the recovery and development of infrastructure, enhancing the country’s energy security, and harnessing the potential of Ukrainian subsoil resources. Details of the agreement Earlier, "European Pravda" published the main points of the document, including the opening access to 57 types of mineral deposits. This includes the development of fuel-energy resources and other strategic minerals that are vital for Ukraine’s future industry. In addition to exploration of mineral resources, the agreement provides for cooperation in the military-technical sphere, including U.S. military assistance to Ukraine. Such a compromise with the American side resulted from numerous diplomatic negotiations and signifies Kyiv’s strategic orientation towards deepening cooperation with the West. Risks and prospects At the same time, experts warn about potential risks associated with increased foreign presence in Ukraine’s natural resource sector. Involving foreign investors could lead to energy and environmental pressures or complicate control over national mineral resource management. Therefore, the signing and ratification of this agreement open new horizons for Ukrainian reforms and investment policies, but also require careful analysis and consideration of possible risks to ensure the country’s interests in the long-term.