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Ukraine explains how minerals deal compensates for Kiev's debt to US

At the same time, Kachka did not give a clear answer as to whether Ukraine had succeeded in convincing the United States to abandon the wording of a "virtual contribution" in the agreement

MOSCOW, April 18. /TASS/. The draft minerals deal between Ukraine and the United States, as well as the accompanying memorandum, does not explicitly mention Kiev’s debt to Washington, but does outline a mechanism by which the US would be compensated for the aid, said Deputy Economy Minister Taras Kachka.

"No one in the US is currently calling this a debt that we are obligated to repay. The idea is to structure it so that the activities of the fund and future investments in Ukraine generate returns. The US, as one of the partners—and Ukraine, as the other—should earn at least as much as was provided in aid, if not more," Kachka, who is also Ukraine’s trade representative, said on the air of the Rada TV channel.

"How to word that correctly is exactly the task before us," he added.

At the same time, Kachka did not give a clear answer as to whether Ukraine had succeeded in convincing the United States to abandon the wording of a "virtual contribution" in the agreement, a provision under which US aid to Ukraine since February 2022 would count as its stake in a joint investment fund, meaning the United States would have to contribute nothing.

"We are working on language that makes everything clear for all parties involved," he added.

US President Donald Trump insists that the economic cooperation agreement should allow Washington to get back the funds that have been allocated to Kiev over the past three years. Ukraine insists that the assistance was provided condition-free, without any obligation to repay.

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