Agreement on subsoil between Ukraine and the United States: The Cabinet of Ministers refused to disclose details due to “commercial secrecy”
2 June 15:44
Ukrainian MP Yaroslav Zheleznyak said that the Cabinet of Ministers of Ukraine refused to provide the texts of two additional agreements to the framework agreement on cooperation with the United States in the field of mineral resources, citing commercial secrecy.
The MP said this in a telegram, "Komersant Ukrainian" reports.
It is about the Limited Partnership Agreement and the Limited Liability Company Agreement, which, according to the Ministry of Economy, contain confidential provisions and regulate access to information that constitutes a trade secret.
on February 26, 2025, the Cabinet of Ministers of Ukraine approved the decisions necessary to sign an agreement with the United States to establish the Recovery Investment Fund. This fund will be jointly owned and managed by the governments of both countries. Ukrainian subsoil and resources will remain the property of Ukraine. Ukraine will contribute to the fund 50% of future revenues from its natural resource assets, and the United States will contribute funds, financial instruments and other assets important for the country’s recovery.
Security guarantees
Prime Minister Denys Shmyhal emphasized that the subsoil agreement cannot be considered without reference to security guarantees. The draft agreement states that it is an integral part of the architecture of bilateral and multilateral agreements aimed at establishing lasting peace and strengthening economic and security resilience.
U.S. Treasury Secretary Scott Bessent added that the agreement contains an “implicit guarantee” for Ukraine, as significant U.S. investments in the country’s economy create an interest in its stability and prosperity.
Prospects for implementation
Experts estimate that the financial benefits of the agreement may come no sooner than in 10 years. The reasons for this are the destroyed infrastructure, lack of geological research, and potential danger to investors due to the ongoing war. Some fields are located in the occupied territories, which also complicates their development.
President’s position
President Volodymyr Zelenskyy emphasized that Ukraine is ready to sign a framework agreement with the United States and that “there are no secrets behind the scenes.” He noted that the country is open to cooperation and ready for transparent agreements.
