The Cabinet explained how the USA and Ukraine will share the profits from the subsoil agreement.
Ukraine and the United States signed an agreement on subsoil. The government explained how the distribution of profits between the parties will be carried out within the framework of this agreement. About the details of the arrangements told First Deputy Prime Minister – Minister of Economy Yulia Svyridenko and Trade Representative of Ukraine Taras Kachka.
“This is ownership, management – everything is 50/50. Distribution of profits only after 10 years. Before that – only investments and only in Ukraine”Svyridenko said.
Kachka clarified that at the time of signing the agreement, the shares in the Ukrainian-American Fund are equal – 50% for each party. Additional investments may be made in the future.
“They can be immeasurable, both on the part of the USA and on the part of Ukraine. The size of the contribution does not affect the fact that management is equal. It is important at the stage of payment of income.” he explained.
Svyridenko emphasized that both Ukraine and the USA each receive 50% of the fund’s shares.
“As for the distribution of profits: let’s imagine that in 10 years the fund generates a profit of 2 billion dollars. Let’s assume that during this time the US provided an additional 1 billion dollars in aid, which was invested in the fund. In this case, first of all, this additional amount that was contributed is returned from the profit – that is, 1 billion is returned to the United States. And the rest of the profit – in this example another 1 billion – is distributed equally, 50/50.” she added.
