Photo: Facebook / Minister of Economy of Ukraine Yulia Sviridenko
Ukraine’s Economy Minister Yulia Svyrydenko has posted on Facebook that an agreement with the United States to create a Fund for the Economic Recovery of Ukraine is currently under discussion. This document, which has already been dubbed the “minerals deal” in the media, has not yet been finalised, and Ukraine is formulating its own negotiating position.
“The Government of Ukraine is working to ensure that the agreement reflects all our interests and is in the spirit of strategic partnership with the United States,” Svyrydenko said.
According to her, the working version that the Ukrainian side has received so far largely reflects the approaches and position of American legal advisers. Instead, the Ukrainian government is preparing its own version, which should protect national interests.
“The parameters of the agreement we discussed earlier are unique,” the minister added.
Svyrydenko also stressed that if necessary, the government would enter into consultations with the Verkhovna Rada, but at this stage, public discussions could harm the negotiation process.
“Given the importance of the agreement, it is extremely important for us to have a constructive dialogue with our American partners,” she concluded.
The statement was made amid active public discussion of the previous text of the agreement, which caused a wave of criticism in the expert community due to the possible risks of transferring control over Ukraine’s strategic resources.
The agreement envisages the creation of an investment fund with the participation of the U.S. International Development Finance Corporation (DFC), a U.S. company as the general partner, and the government of Ukraine. The working draft envisages, among other things, the transfer of 50% of revenues from Ukrainian minerals and infrastructure to the fund, which has sparked a lively discussion about the economic feasibility of this format of cooperation.
Author : Marianna Nyzhnia
