All news
28 Mar, 12:31

Ukraine to owe US more than $120 bln under revised minerals deal — newspaper

Additionally, Ukraine is required to make its own contributions to this fund

MOSCOW, March 28. /TASS/. The revised mineral resources deal between the United States and Ukraine stipulates that Kiev must repay all aid provided to it by America, a figure that could exceed $120 bln, the Evropeiskaya Pravda newspaper said, citing a copy of the agreement it had on hand.

This refers to military, financial and humanitarian aid transferred to Ukraine since February 2022. The exact amount has yet to be determined, the document indicates. The newspaper notes, citing expert estimates, that the figure could be in the neighborhood of $114 bln to $120 bln or more. Money repaid by Kiev will be placed into the Ukraine recovery fund controlled by the US and will be deemed to be the US contribution to this fund.

Additionally, Ukraine is required to make its own contributions to this fund. According to the document, 50% of all the country’s government revenues from licensing fees and extraction of mineral resources and development of both brownfields and greenfields, as well as 50% of budget revenues from all infrastructure projects should be directed to these purposes.

Vladimir Zelensky earlier confirmed that the US had handed over a revised minerals deal to Ukraine, which stipulated creating this infrastructure fund. US Secretary of Treasury Scott Bessent said this Wednesday that the economic cooperation agreement, including on mineral resources, can be signed between the US and Ukraine as early as next week.