Source: Phoenix News

The Ukrainian Pravda released the full text of the Ukrainian mineral agreement on February 26. Ukrainian Prime Minister Smegal said that Ukraine and the United States are ready to jointly develop the final version of the Ukrainian mineral resource agreement.

Ukraine will negotiate with the United States to reach a consensus on a detailed agreement to regulate the activities of the so-called "reconstruction investment fund" - a bilateral structure planned by Ukraine and the United States.

The report said that targeted changes to the agreement may be made, but the main terms have been agreed.

The full text of the agreement is as follows:

In view of the large amount of fiscal and material support for Ukraine since the outbreak of the Russian-Ukraine conflict in February 2022;

In view of the American people's desire to invest in a free, sovereign and secure Ukraine with Ukraine;

In view of the United States and Ukraine seeking Ukraine lasting peace and enduring partnerships between the two peoples;

In view of the United States and Ukraine's recognition of Ukraine's voluntary abandonment of the world's third largest nuclear arsenal to strengthen international peace and security;

In view of the United States and Ukraine's desire to ensure that hostile actions against Ukraine and others in the conflict will not benefit from the reconstruction of Ukraine after the arrival of lasting peace;

In view of the United States and Ukraine's desire to ensure that in conflict, hostilities and other actions against Ukraine will not benefit from the reconstruction of Ukraine after the arrival of lasting peace;

In view of the United States and Ukraine This bilateral agreement was signed and the terms and conditions of the Rebuild Investment Fund were established to deepen the partnership between the United States and Ukraine.

1. In order to achieve lasting peace in Ukraine, Ukraine and the United States intend to jointly hold the Reconstruction Investment Fund, which will be further clarified in the Fund Agreement. Co-ownership will take into account the actual contributions of the participants identified in Chapters 3 and 4. The fund will be jointly managed by representatives from Ukraine and the United States. More detailed terms regarding fund management and activities will be listed in another agreement (Fund Agreement), which will be negotiated immediately after the signing of this bilateral agreement. No Party shall transfer any fund shares held directly or indirectly without prior written consent of the other Party.

2. The fund will collect and reinvest in the fund's income (deducting the expenses incurred by the fund) and obtain income through the future monetization of all relevant natural resource assets in Ukraine (whether directly or indirectly owned by Ukraine), as defined in Chapter 3.

3. Ukraine will pay 50% of the future monetization income from Ukraine's future monetization of all all relevant natural resource assets (whether they are directly or indirectly belong to Ukraine). These assets include proven minerals, hydrocarbons, oil, natural gas and other exploitable resources, as well as infrastructure related to natural resource assets (such as liquefied natural gas terminals, port infrastructure, etc., which require the consent of both the fund participants). It should be noted that such future sources of income do not include existing fiscal revenues in Ukraine that have been included in the budget. The specific payment time frame, amount and stability will be in the fundThe agreement is further clarified.

The Fund may, at its sole discretion, include or return the actual costs incurred by the new development project from which the Fund obtains income.

The fund injected funds will be reinvested in Ukraine at least once a year to promote Ukraine's security, protection and prosperity. The specific implementation rules are stipulated in the fund agreement. The agreement will also contain terms regarding future dividend distributions.

4. Under current U.S. law, the United States will provide long-term financial commitment support for the development of a stable and economically prosperous Ukraine. Subsequent capital injections may include funds, financial instruments and other tangible and intangible assets that are crucial to the reconstruction of Ukraine.

5. The investment process of the fund will be designed to invest in projects in Ukraine and attract investment to promote the development, processing and monetization of all state-owned and private assets, including but not limited to the following areas: mineral deposits, hydrocarbons, oil, natural gas and other exploitable materials, infrastructure, ports and state-owned enterprises, etc. The specific content may be further elaborated in the fund agreement. The United States and Ukraine aim to create additional fund allocation opportunities through this investment process and promote more reinvestment to ensure adequate capital inflows for Ukrainian reconstruction, and the relevant details will be determined in the fund agreement.

Participants reserve the right to take necessary actions to protect and maximize their economic interests in the Fund.

6. The Fund Agreement will contain appropriate statements and warranties, including the necessary terms and conditions to ensure that any existing obligations that Ukraine may assume to third parties, or may assume in the future, will not result in Ukraine's contribution to the Fund, the sale, transfer, transfer, pledge or other burden of the assets that arise such contribution, or the disposal of the Fund's funds.

When formulating a fund agreement, all parties should try their best to avoid conflicts with Ukraine's obligations arising from joining the European Union, or the obligations under the agreements reached with international financial institutions and other official creditors.

7. Among other things, the Fund Agreement shall specifically recognize that the Fund Agreement itself and its activities stipulated are commercial in nature.

The fund agreement shall be ratified by the Ukrainian Parliament in accordance with the Ukrainian International Treaty Law.

8. The Fund Agreement will focus on control mechanisms to prevent weakening, violations or evasion of sanctions and other restrictive measures.

9. The text of the fund agreement will be formulated immediately by a working group co-chaired by Ukraine and authorized representatives of the United States. The parties responsible for formulating the fund agreement under this bilateral agreement are: the United States - Ministry of Finance; Ukraine - Ministry of Finance and Economics.

10. This bilateral agreement and fund agreement will become an important part of the bilateral and multilateral agreement structure, and will also be a specific measure to achieve lasting peace, enhance economic security resilience and implement the goals described in the preamble of this bilateral agreement.

The United States supports Ukraine in obtaining the necessary security guarantees to build lasting peace. All parties will work to determine any necessary steps to protectProtect mutual investment, as stipulated in the Fund Agreement.

11. This bilateral agreement is legally binding on the parties and will be implemented by each party in accordance with its respective procedures. Ukraine promises to start fund agreement negotiations immediately.

Signed in English and Ukrainian, both texts have the same effect.

United States: Treasury Secretary Scott C.G. Becent

Ukraine: Ukraine First Deputy Prime Minister and Ukrainian Minister of Economy Yulia Sveridenko