MOSCOW, May 2. /TASS/. Ukraine’s government has submitted to the Verkhovna Rada, or national parliament, a bill on the ratification of the minerals deal with the United States, as follows from a post on the parliament’s website.
"The government hopes for the parliament’s support for a prompt ratification of this agreement," Prime Minister Denis Shmygal wrote on his Telegram channel.
Yaroslav Zheleznyak, a Rada lawmaker, said earlier that voting on the bill is scheduled for May 8.
Reports about the signing of the minerals deal with the United States came early on May 1. According to Ukraine’s First Deputy Prime Minister and Minister of Economy Yuliya Svyrydenko, 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.