Ukraine has lost its access to a significant part of the strategic natural resources due to the occupation of territories, which has a significant economic impact and prospects for the country’s restoration.
The Minister of environmental protection and natural resources of Ukraine Svetlana Grinchuk on Wednesday, May 28, in an interview with Reuters, reported that about 50% of the country’s strategic resources are currently in temporary occupied territories.
This is, in particular, about a significant portion of coal deposits, as well as some deposits of lithium, manganese and other minerals.
Grinchuk emphasized that due to the war of war and hate in the front line of over 1000 km, the natural resources industry suffered losses worth nearly 70 trillion hryvnias (about $ 1.7 trillion).
On April 30, the United States and Ukraine signed a recovery fund creation agreement with equal distribution of participation – 50 to 50. The document contains 12 articles and concerns the list of critical materials, as well as oil and gas. From Ukraine, the Foundation engages in the State -Private Partnership under the Ministry of Economy, from the United States – the American International Financial Development Corporation (DFC).
On May 8, Verkhovna Rada approved the agreement and approved the first reading of the amendments to the budget code. The final vote is expected in early June.
According to the minister, Ukraine expects funding activities to help to express the full potential of the mining industry. Currently, the contribution of the natural resources sector to GDP is only 4%, although the possibilities are wider.
“We are sincerely hoping that this agreement will attract more industry attention and make foreign investments clearer and attractive,” he said.
Keep in mind that on Thursday, Verkhovna Rada supported the ratification of the subsoil between Ukraine and the USA.
Thereafter, a phone conversation was held between the presidents of both countries.
Rada explained that it provides for a subsoil agreement
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.