Ukraine’s mineral wealth at stake as U.S. agreement nears ratification
So, what do we have? The Minister of Economy of Ukraine Mrs. Svyrydenko has signed a framework memorandum with the U.S. regarding the future signing of an agreement on the use of mineral resources.
What exactly is in the text — remains unknown.
The final signing of the agreement is expected next week, followed by ratification by the Verkhovna Rada.
How can the Rada, with a trust level of just 13%, make any fateful decisions — it’s a mystery to me, just like the main points of the upcoming agreement.
We, the citizens of Ukraine, according to the Constitution, are the rightful owners of our mineral resources.
But our Constitution is currently on pause, and our children receive no dividends from these resources (greetings to Volodymyr Sanych — the law on the economic passport of a Ukrainian has still not been adopted).
In practice, the minerals are not beneficial to us, but rather to those who hold the extraction licenses and the state budget.
In 2024, Ukraine earned $38.9 billion from the export of mineral resources.
This accounts for 8.1% of the total revenue. Before 2022, we were earning almost twice as much.
After the agreement is signed — will this number increase or decrease? I don’t know.
We know NOTHING.
It’ll be a surprise.
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