The Rada approved amendments to the Budget Code to implement the agreement with the US on minerals
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The Verkhovna Rada has finally approved draft law No. 13256 on amendments to the Budget Code, which are necessary for the implementation of the agreement between Ukraine and the United States on the development of mineral extraction. This was reported by People's Deputy from the Holos party Yaroslav Zheleznyak.

Zheleznyak noted that the text of the bill remained almost unchanged until the second reading. 309 deputies voted for it.

The law determines how Ukraine will form its contribution to joint mining initiatives – in particular, this will apply to new licenses and special permits.

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Thus, according to the draft law, Ukraine's contribution will consist of half of the money received after the agreement enters into force from:

  • rents for the extraction of minerals (oil, gas, gas condensate, etc.) from new licenses;
  • issuance of new special permits for the use of subsoil;
  • sale of the state part of the production under new production sharing agreements.

This money will be credited to a special fund of the state budget and, by decision of the main administrator (presumably the Ministry of Economy), will be transferred to the Reconstruction Fund.

Zheleznyak emphasized that if such a model had been in effect since 2019, it could have already brought the state approximately $71 million.