Ukrainian Subsoil Fund to be registered in US - Shmyhal

Prime Minister Denys Shmyhal announced that the Investment Fund for the Reconstruction of Ukraine under the Minerals Agreement will be registered in the US.

He said this during the "hour of questions to government," Ukrainian News Agency reports.

"So, the preliminary agreement is that the fund (on minerals) will be registered in the United States," he noted.

Despite this, according to the Prime Minister, the fund will operate in Ukraine.

He also explained that the main account of the fund, where Ukraine will transfer its contribution, will be opened in Ukraine in hryvnias.

As Ukrainian News Agency earlier reported, the Cabinet of Ministers is asking the Verkhovna Rada to ratify the minerals agreement by May 8.

US Secretary of the Treasury Scott Bessent said that the minerals agreement sends a signal to the russian leadership that there is "no difference" between the goals of the US and Ukraine, and also allows US President Donald Trump to negotiate with russia on a more solid basis.

On April 30, Ukrainian Economy Minister Yuliya Svyrydenko and her American counterpart Scott Bessent signed a minerals agreement.

The US Department of State stressed that the conclusion of the minerals agreement is a step towards ending the war.