Today, the ratified agreement with the United States regarding Ukraine’s natural resources does not provide for the transfer of subsoil ownership to foreign entities. Ukraine retains its status as the full owner and user of its resources. This was stated by Member of Parliament from the “Servant of the People” party, Fedir Venislavskyi, during a broadcast on Radio Liberty.
This is reported by Kyiv24
“Ukraine does not share its subsoil – it only shares profits and rent payments… Ukraine does not give away any subsoil; it remains the sovereign owner and user of the subsoil. Only rent payments will fill this fund and will be reinvested in our industry”
Venislavskyi emphasized that the agreement provides for enhanced control over the use of natural resources in the country. According to him, a review of all previously issued permits for subsoil use is planned in the near future, including so-called “dormant” permits that oligarchs have received over the past 10-15 years but have not utilized.
Review of Permits and Control Over Subsoil
According to the Member of Parliament, special permits for subsoil use were issued en masse in Ukraine, which over time remained unused. This creates potential risks for state resources and opportunities for abuse. At the same time, the agreement with the U.S. provides for enhanced control over the use of natural resources and transparency in the issuance of new permits.
Additionally, on April 30, Ukraine and the U.S. signed an agreement on economic partnership and the establishment of a Recovery Investment Fund. According to this document, the Ukrainian authorities retain full control over their resources. The fund is established on the principle of equal shares — 50/50, and its funding is carried out exclusively from the revenues of new licenses. At the same time, the document does not impose any debt obligations on Ukraine to the U.S. and will not hinder the application for membership in the European Union.