Ukraine and the United States have prepared a joint text of a preliminary agreement, which provides for an agreement to work on a specific international agreement on the creation of an investment fund. So far, the agreement contains only a political framework that describes the creation of the fund, Prime Minister Denys Shmyhal said at a press conference.
"The first is the willingness to jointly create this fund. Second, the fund will be managed jointly by the governments of Ukraine and the United States.
Third, Ukraine's contribution will be 50% of future revenues from minerals, subsoil and related infrastructure.
"This framework gives an idea of what the next agreement should look like. But we have not started working on the agreement," he said.
This second agreement must be ratified by the Verkhovna Rada and the US Congress. A specially created group will work on its text with the relevant directives.
"Obviously, we will involve international lawyers," he said.
Ukraine is ready to sign the first agreement on the creation of a joint investment fund, he stressed. "Kyiv is ready to communicate and expects feedback. There are already positive public signals, and diplomatic signals are awaited.
Agreement with the US on minerals
The document developed by the US and Ukrainian governments is currently called the Agreement on the Terms and Conditions of the Investment Fund for the Reconstruction of Ukraine. Initially, the United States set out requirements that Ukraine could not agree to: they stipulated a debt of $350 billion and Ukraine's obligation to pay back two dollars for every one dollar. Volodymyr Zelenskyy stressed that there was no debt of $350 billion to the United States - over the three years of the full-scale war, Washington had provided more than $100 billion in aid, but even this was not obliged to be returned.
The debt was removed in the final text of the agreement. However, the document was not signed during the Ukrainian president's visit: Donald Trump and J.D. Vance accused Zelenskyy of ingratitude and unpreparedness for peace, after which the Ukrainian delegation was asked to leave the White House early.