The Verkhovna Rada approved an agreement with the US on subsoil resources

On May 8, 2025, the Verkhovna Rada of Ukraine decided to ratify an agreement with the United States of America regarding creating a joint investment fund for reconstruction, allowing joint access to developing the country’s natural resources. Three hundred thirty-eight people’s deputies voted for this initiative.

Prime Minister of Ukraine Denys Shmyhal marked this event as “historic” for relations between the two countries, emphasizing that technical preparations will be completed soon to begin a new stage of cooperation.

“We hope to complete technical work shortly and begin a new stage of cooperation with our partners from the United States,” Shmyhal noted during a speech in parliament.

Terms of cooperation and control over resources

First Deputy Prime Minister Yulia Svyrydenko clarified that all basic constitutional principles were taken into account in the agreement:

Control and ownership of the subsoil remain with Ukraine.

All resources on the country’s territory and waters belong to the Ukrainian people.
National interests are fully protected.
Ukraine submits investment projects that contribute to implementing our economic goals. The agreement is also consistent with Ukraine’s course towards European integration and relevant obligations,” Svyrydenko noted.

Key points of the agreement

The agreement, signed on May 1, 2025, has the following objectives:

Create an investment fund to attract foreign investments into the Ukrainian economy.
Joint management of the fund on a 50/50 basis, which ensures equality in decision-making.
The absence of a casting vote for one of the participants maintains a balance of influence.
The possibility of additional contributions that will affect the distribution of profits.
Deputy Minister of Economy Taras Kachka noted that Ukraine can contribute 50% of rent payments from mineral extraction to the investment fund. The agreement does not include dividing territories into occupied and unoccupied — this issue is still under discussion.