The Verkhovna Rada has adopted amendments to the Budget Code of Ukraine necessary for the implementation of the U.S.-Ukraine minerals agreement, with the draft law passing almost unchanged in the second reading.
MP Yaroslav Zhelezniak announced this on Telegram, as reported by Ukrinform.
“The Rada has finally approved amendments to the Budget Code to implement the minerals agreement. By the second reading, almost nothing has changed in the text,” Zhelezniak stated.
The bill, No. 13256, was backed by 309 votes in the Ukrainian parliament.
The MP explained that, under the agreement’s terms, Ukraine’s contribution will comprise half of the funds generated after the agreement comes into force through:
- rents collected from the extraction of minerals—including oil, gas, gas condensate, and other resources listed in Annex A—from newly issued licenses;
- fees from issuing new special permits for subsoil use;
- the sale of the state’s share of production under new production-sharing agreements.
These funds will be credited to a special state budget fund and, upon the chief administrator’s decision, allocated to the Reconstruction Fund.
Zhelezniak also stressed that the government declined to provide MPs with two additional agreements related to the US-Ukraine Reconstruction Investment Fund for review.
As reported by Ukrinform, on May 12, President Volodymyr Zelensky signed a law ratifying the agreement on the establishment of the U.S.-Ukraine Reconstruction Investment Fund.
Source: Parliament approves amendments to Budget Code for minerals agreement
