The Rada adopted changes to the budget for the implementation of the agreement with the United States on minerals

The Verkhovna Rada of Ukraine on Wednesday, June 4, adopted in final reading amendments to the Budget Code necessary for the implementation of the agreement with the United States in the field of critically important minerals.

"The Rada has finally approved #13256 amendments to the Budget Code for the implementation of the Agreement on Minerals," said Verkhovna Rada deputy Yaroslav Zheleznyak in his Telegram channel.

According to the adopted document, Ukraine's contribution will consist of half of the funds received after the agreement enters into force. We are talking about rental payments for the extraction of oil, gas, gas condensate and other resources (under new licenses), proceeds from new special permits for the use of mineral resources, as well as income from the sale of the state share of products under new production sharing agreements.

"This money will be credited to a special fund of the state budget and, by decision of the chief administrator (probably the Ministry of Economy), will be sent to the Recovery Fund," Zheleznyak said.

According to the MP's calculations, if such an agreement had been in force since 2019, it could have brought about $71 million to the budget in five years. At the same time, the text of the bill remained virtually unchanged by the second reading.

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Earlier, on May 8, Zheleznyak announced that the Verkhovna Rada had ratified the agreement with the United States on mineral resources. According to him, 338 deputies voted for the ratification of the agreement with the United States, that is, the decision was made unanimously, without abstentions.