US and Ukraine may review terms of mineral agreement - Shmyhal

The United States of America and Ukraine may review terms of profit sharing in the minerals agreement. Prime Minister Denys Shmyhal said this during the “hour of questions to government”, Ukrainian News Agency reports.

Shmyhal explained that the agreement has no time limit, therefore it is considered indefinite legally, but, by agreement of the parties, it can be terminated at any time or it can be extended.

“This agreement is indefinite, but after 10 years the parties can consider the terms of profit sharing for the first time. In the future, the parties can extend the agreement, or, by agreement of the parties, it can be terminated,” he said.

“We expect and would like this agreement to work for Ukraine for more than 10 years. I spoke about decades in my speech, because for us this is a direct investment fund - a good investment instrument,” he added.

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