**Ukrainian Parliament Takes Step Towards Implementing US Minerals Deal**
The Ukrainian parliament has made a significant move towards implementing the highly contested economic agreement with the United States. Lawmaker Yaroslav Zhelezniak announced on May 13 that the Budget Code amendments to implement the minerals deal passed in the first reading.
This development marks another important step forward for Ukraine and the US in their efforts to strengthen their economic ties. The minerals deal, which was signed on April 30 and ratified by Ukraine on May 8, creates a Reconstruction Investment Fund jointly managed by Kyiv and Washington. This fund will have special access to projects developing Ukraine’s vast deposits of critical minerals, including lithium, titanium, and rare earth elements.
Under the agreement, Ukraine will contribute half of the funds received after it enters into force. These funds will come from rents for resource extraction under new licenses and issuance of new permits. The changes were supported by 286 lawmakers, with Zhelezniak stating that the deadline for submitting additional amendments was cut short.
**A Big Step Forward**
The passage of these amendments in the first reading is a significant achievement for Ukraine and its parliament. It marks another step towards enacting a wide-ranging economic agreement between Ukraine and the US. The agreement has been long-contested, but this development shows that progress is being made.
The agreement’s potential benefits cannot be overstated. By developing Ukraine’s vast deposits of critical minerals, the country can improve its energy security and reduce its dependence on other countries for these essential resources. This, in turn, can boost Ukraine’s economic growth and improve the standard of living for its citizens.
**What’s Next?**
While this development is significant, it’s not the final step towards implementing the agreement. Ukrainian legislation requires two readings in parliament and a presidential signature before entering into force. It remains to be seen how smoothly these next steps will go, but one thing is certain – this development marks an important milestone on Ukraine’s path towards strengthening its economic ties with the US.
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