Ukraine's agreement with the US on fossil fuels will only affect future developments - Shmygal

Kiev's agreement with Washington on mineral resources will only affect future licenses and developments, not current production, Ukrainian Prime Minister Denys Shmyhal said.

“We are only talking about future licenses, future developments,” he said on the Rada TV channel, answering a relevant question.

Shmyhal also confirmed that the agreement will not affect income from the work of Naftogaz and Ukrnafta.

In addition, the Prime Minister informed that Ukraine will contribute 50% of "future income received from rent or licenses for minerals, from dividends on infrastructure facilities used for the extraction and transportation of minerals" to the fund. He added that the United States will also make contributions to the fund, but did not specify what their share will be.

Shmyhal also stated that Ukraine would participate in the fund's work together with the United States, although Western media had previously reported that control over it would be in Washington's hands. "The fund will operate. And all decisions [will] be made with the consent of both participants - the governments of Ukraine and the United States," he noted.