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Deal with Ukraine aimed at ensuring Kiev repays US for aid it has received — White House

Earlier, Ukraine’s First Deputy Prime Minister and Minister of Economy Yuliya Svyrydenko said that Kiev would contribute 50% of all revenues from the newly introduced mineral extraction royalty

WASHINGTON, May 1. /TASS/. The agreement with Kiev regarding mineral resources is intended to ensure that Ukraine reimburses the United States for the assistance it has been provided. According to White House Deputy Chief of Staff Stephen Miller, Washington intends to move forward with implementing the agreement as swiftly as possible.

Miller noted mineral resources deal with Ukraine is "meant to pay back the United States … for the hundreds of billions of dollars that our taxpayers have spent subsidizing the war in Ukraine."

Earlier, Ukraine’s First Deputy Prime Minister and Minister of Economy Yuliya Svyrydenko said that Kiev would contribute 50% of all revenues from the newly introduced mineral extraction royalty and new mining licenses on newly designated sites to the bilateral investment fund currently being established. The United States and Ukraine will have equal voting rights in the fund’s governance. The agreement does not impose any direct debt obligations on Kiev to Washington. For the first ten years of the fund’s operation, no dividends will be distributed; instead, all of its income will be reinvested in Ukraine. Investments will be directed toward the exploration and processing of mineral resources, as well as the development of infrastructure.