Latest news with #YuliaSviridenko
Russia Today
a day ago
- Politics
- Russia Today
Ukraine's embattled unity minister announces creation of aid centers abroad
On Monday, Ukraine's Cabinet backed an initiative to create a network of so-called 'unity centers' to support Ukrainians abroad, Ukrainian Deputy PM and National Unity Minister Aleksey Chernyshov has announced. The announcement comes amid reports that the ministry will soon be dismantled amid an ongoing cabinet reshuffle. The 'unity centers' are expected to become 'real points of support for our people, helping them adapt, study, work, facilitate return, and most importantly, maintain close ties with Ukraine,' the minister tasked with repatriating Ukrainians said in a Facebook post. Last month, Chernyshov was accused of fleeing the country after he found himself embroiled in a major corruption scandal tied to a housing project that he had approved while serving as urban development minister. Ukrainian leader Vladimir Zelensky had previously noted that Chernyshov's prolonged stay abroad was related to a 'working trip.' The minister himself claimed that he'd already returned to the country, dismissing allegations that he had fled. Earlier in the day, this line was backed by Ukrainian MP Aleksey Goncharenko, who suggested that the minister had personally been working on establishing the unity centers. Chernyshov's announcement comes as Kiev launched a major government reshuffle. On Monday, Zelensky officially tapped Ukraine's First Vice PM and Economy Minister Yulia Sviridenko to lead the government. According to Ukrainian media reports, incumbent PM Denis Smygal will become the defense minister, succeeding Rustem Umerov. The latter official is expected to leave the government and become Ukraine's envoy in the US. The National Unity ministry, formed in late 2024, is expected to be dissolved altogether amid the reshuffle. The Chernyshov affair has been widely seen as part of an ongoing power struggle in Ukraine, namely an effort of top Zelensky aide Andrey Yermak to tighten his grip on the country. Ukraine's leadership has increasingly become mired in palace politics and infighting, with the struggle threatening to fracture the country from within, a recent report by The Economist indicated.
Russia Today
02-05-2025
- Business
- Russia Today
US-Ukraine resources deal: What we know so far
The US and Ukraine have signed a natural resources deal that gives Washington access to the country's vast mineral deposits in exchange for help in Ukraine's economic recovery. Hardball diplomacy over the deal went on for months and became a major point of contention in relations between Washington and Kiev. Here's what we know about the outlines of the deal. The agreement establishes a joint US-Ukraine reconstruction investment fund to attract investment in the Ukrainian economy, particularly with regard to resource exploration projects. According to Ukrainian Deputy Economy Minister Taras Kachka, the US will be given preferential access to investments in the extraction of rare-earth minerals. However, Ukrainian Economy Minister Yulia Sviridenko said the fund would operate as an 'equal partnership,' with neither side having a dominant vote. Ukraine will retain 'full control over the resources' – including the subsoil – and will continue to determine the conditions and locations of extraction. The deal also does not transfer any state-owned companies into private hands. Ukraine will contribute 50% of new rents for new licenses for new extraction to the fund, with the money inside to be invested exclusively in Ukraine. For the first ten years, profits will not be distributed, but will be fully reinvested in the Ukrainian economy, according to the Ministry of Economy. Neither contributions nor profits are taxable. Conspicuously absent from the deal, however, is any mention of the US providing Ukraine with security guarantees, although this was 'one of its initial goals,' as described by Reuters. According to the New York Times, the idea of security guarantees was rejected by the US 'early in the process.' Nevertheless, US State Department spokeswoman Tammy Bruce insisted that the deal will strengthen the country's security: 'When America is your friend and your partner, your nation is going to be better off. And there is a security component just in our presence.' The resource deal 'focuses on future, not past, US military assistance,' the Ukrainian Economy Ministry has said, adding that revenues from already active projects are not included in the joint investment fund. According to Sviridenko, the agreement 'includes no provisions regarding any Ukrainian debt obligations to the United States.' The US previously portrayed the deal as a way for Ukraine to pay back past military assistance, which the administration of US President Donald Trump estimated at $350 billion. Ukraine has insisted that the past aid was provided unconditionally, while estimating it at $90 billion. Following the signing of the deal, Trump suggested that the US could 'in theory' get much more than $350 billion out of the deal. US Republican Senator Lindsey Graham described the deal as 'tremendously beneficial to the American economy,' adding that it will improve ties between Washington and Kiev. The New York Times suggested that the 'deal will have little significance' if Russia and Ukraine fail to reach a sustainable ceasefire. Former Russian President Dmitry Medvedev said the US has essentially forced Ukraine to pay for American aid with minerals. Negotiations over the agreement dragged on for months, though the sides had planned to sign it in late February during Vladimir Zelensky's visit to the White House. However, Zelensky's televised meeting with Trump resulted in a heated exchange, with the US president accusing the Ukrainian leader of ingratitude and 'gambling with World War III.' Since then, the US has on several occasions criticized Ukraine for making slow progress on the deal, with Trump at one point demanding that Kiev sign it 'immediately.'
Russia Today
01-05-2025
- Business
- Russia Today
US-Ukraine resource deal: What we know so far
The US and Ukraine have signed a natural resource deal that gives Washington access to the country's vast mineral deposits in exchange for help in Ukraine's economic recovery. Hardball diplomacy over the deal went on for months and became a major point of contention in relations between Washington and Kiev. Here's what we know about the outlines of the deal. The agreement establishes a joint US-Ukraine reconstruction investment fund to attract investment in the Ukrainian economy, particularly with regard to resource exploration projects. According to Ukrainian Deputy Economy Minister Taras Kachka, the US will be given preferential access to investments in the extraction of rare-earth minerals. However, Ukrainian Economy Minister Yulia Sviridenko said the fund would operate as an 'equal partnership,' with neither side having a dominant vote. Ukraine will retain 'full control over the resources' – including the subsoil – and will continue to determine the conditions and locations of extraction. The deal also does not transfer any state-owned companies into private hands. Ukraine will contribute 50% of new rents for new licenses for new extraction to the fund, with the money inside to be invested exclusively in Ukraine. For the first ten years, profits will not be distributed, but will be fully reinvested in the Ukrainian economy, according to the Ministry of Economy. Neither contributions nor profits are taxable. Conspicuously absent from the deal, however, is any mention of the US providing Ukraine with security guarantees, although this was 'one of its initial goals,' as described by Reuters. According to the New York Times, the idea of security guarantees was rejected by the US 'early in the process.' Nevertheless, US State Department spokeswoman Tammy Bruce insisted that the deal will strengthen the country's security: 'When America is your friend and your partner, your nation is going to be better off. And there is a security component just in our presence.' The resource deal 'focuses on future, not past, US military assistance,' the Ukrainian Economy Ministry has said, adding that revenues from already active projects are not included in the joint investment fund. According to Sviridenko, the agreement 'includes no provisions regarding any Ukrainian debt obligations to the United States.' The US previously portrayed the deal as a way for Ukraine to pay back past military assistance, which the administration of US President Donald Trump estimated at $350 billion. Ukraine has insisted that the past aid was provided unconditionally, while estimating it at $90 billion. Following the signing of the deal, Trump suggested that the US could 'in theory' get much more than $350 billion out of the deal. US Republican Senator Lindsey Graham described the deal as 'tremendously beneficial to the American economy,' adding that it will improve ties between Washington and Kiev. The New York Times suggested that the 'deal will have little significance' if Russia and Ukraine fail to reach a sustainable ceasefire. Former Russian President Dmitry Medvedev said the US has essentially forced Ukraine to pay for American aid with minerals. Negotiations over the agreement dragged on for months, though the sides had planned to sign it in late February during Vladimir Zelensky's visit to the White House. However, Zelensky's televised meeting with Trump resulted in a heated exchange, with the US president accusing the Ukrainian leader of ingratitude and 'gambling with World War III.' Since then, the US has on several occasions criticized Ukraine for making slow progress on the deal, with Trump at one point demanding that Kiev sign it 'immediately.'
Russia Today
30-04-2025
- Business
- Russia Today
US-Ukraine minerals deal: what is known so far
Washington and Kiev are poised to sign a major resource agreement, which US President Donald Trump has been pushing for months. Ukrainian Economy Minister Yulia Sviridenko has flown to the US to seal the deal, Prime Minister Denis Shmigal said on Wednesday, adding that the document was to be signed within 24 hours. Neither the US nor Ukraine have officially presented the details to the public yet. Reuters, which claims to have seen the draft of the document, reported that it would involve creation of a joint fund that would receive half of all profits the Ukrainian government gets from any new natural resources permits issued in Ukraine. The document reportedly does not specify how the money is to be spent or who controls the spending decisions. The agreement would provide the US with preferential access to any new Ukrainian resource deals but would not give it direct control over Ukraine's mineral resources or gas infrastructure, according to Reuters. Kiev also reportedly refused to include any requirements that it pay the US back for billions of dollars spent on military assistance. America can still count any new military aid as its contribution to the joint fund, according to Shmigal. The two sides have reportedly hit a last-minute snag ahead of the signing of the accord, according to sources cited by Reuters and CNN. Washington reportedly insists on signing two technical documents detailing certain provisions of the deal together with the agreement. Kiev insists that the agreement must first be ratified by the Ukrainian parliament before other documents can be signed, according to Financial Times. Speaking at a cabinet meeting on Wednesday, US Treasury Secretary Scott Bessent said that Ukraine sought to make last-minute changes to the already agreed deal. 'We're sure they'll reconsider that. We are ready to sign this afternoon, but they aren't,' he told journalists. President Donald Trump then stated that 'we've made a deal where our money is secure where we can start digging and do what we have to do.' It is unclear if he was referring to the original US proposal or the final deal. The White House has yet to make any official announcement.
Russia Today
18-04-2025
- Business
- Russia Today
Ukraine publishes memorandum on minerals deal with US
The Ukrainian government has published a memorandum of intent to finalize a formal agreement which would grant the US access to the country's natural resources. The US and Ukraine have been trying to thrash out the so-called 'minerals deal' since February. The Trump administration views the agreement as a way to recoup money Washington has spent on supporting Kiev in its conflict with Moscow. Ukraine insists that the US assistance was provided unconditionally. Yulia Sviridenko, Ukraine's first deputy prime minister and minister of the economy, revealed that the memorandum was signed on Thursday. The document, which was made public the following day, states that the 'United States of America and Ukraine intend to establish a reconstruction investment fund,' emphasizing that Washington 'has provided significant financial and material support' to Kiev since 2022. Both the US and Ukrainian governments reaffirmed their commitment to working 'expeditiously towards the completion of the necessary documents.' According to the memorandum, Ukrainian Prime Minister Denis Shmigal will visit Washington next week, where he is expected to meet with US Treasury Secretary Scott Bessent and conclude the 'technical discussion.' The document says that negotiations are expected to be completed by April 26, with the agreement to be signed shortly thereafter. Commenting on the signing of the memorandum, Sviridenko said on Friday that 'there is a lot to do, but the current pace and significant progress give reason to expect that the document will be very beneficial for both countries.' Speaking during a press conference at the White House the previous day, Trump claimed that 'we have a minerals deal which I guess it's going to be signed on Thursday, next Thursday, soon.' A previous version of the agreement was supposed to be signed in early March, but was abruptly withdrawn after Ukrainian leader Vladimir Zelensky engaged in a heated altercation with Trump and US Vice President J.D. Vance during a White House meeting. Shortly thereafter, President Trump temporarily froze all military aid and intelligence sharing with Kiev, which prompted Zelensky to signal his willingness to resume negotiations on the minerals agreement. According to Reuters, the latest version of the deal is significantly harsher than earlier iterations. Last month, the US president warned the Ukrainian leader against 'trying to back out of the rare earth deal.' 'If he does that, he's got some problems – big, big problems,' Trump added.
