Business news from Ukraine

Business news from Ukraine

United States may close its diplomatic missions in Bosnia and Herzegovina

The administration of U.S. President Donald Trump is considering closing nearly 30 diplomatic missions around the world, including two consulates in Bosnia and Herzegovina – in Mostar and Banja Luka. This was reported by the Serbian Economist with reference to an internal document of the US State Department.

The plans to reduce the diplomatic presence are related to the Trump administration’s intention to optimize federal budget expenditures. According to The New York Times, the closure of 10 embassies and 17 consulates is being considered, as well as the reduction or consolidation of staff in other foreign missions.

In Europe, the embassies in Luxembourg and Malta, as well as consulates in France, Germany, Greece, Italy, Portugal, and the United Kingdom are under threat of closure. In Africa, embassies in the Central African Republic, Eritrea, Gambia, Lesotho, the Republic of Congo and South Sudan are to be closed.

The authorities of Republika Srpska, one of the two entities of Bosnia and Herzegovina, commented on the possible closure of US consulates as part of the US economic strategy. The Chairman of the

Republika Srpska National Assembly Chairman Nenad Stevandic noted that this reflects a change in Washington’s political course.

Meanwhile, the US Embassy in Sarajevo said it had no information about plans to close consulates and was continuing to operate as usual.

Source: https://t.me/relocationrs/840

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Uzbekistan and United States sign agreement on cooperation in field of critical minerals

The delegation of the Ministry of Investment, Industry and Trade of the Republic of Uzbekistan, headed by Minister Laziz Kudratov, held a series of meetings and negotiations with the leadership of leading corporations, large companies and industry associations during its official visit to the United States.

According to the program of her visit, on April 7, she met with representatives of companies operating in strategically important areas such as mining, hospitality and food industry.

The management of a number of companies praised the reforms in Uzbekistan, relying also on the successful cases of American companies with many years of experience in the country, and expressed readiness to expand cooperation.

As a result of the meetings, agreements were signed on cooperation in the field of critical minerals, agreements were reached on investments in exploration and production of minerals, construction of fine ore grinding complexes (HPGR), introduction of innovative technologies and creation of added value of critical raw materials, as well as training of Uzbek specialists.

In addition, the parties agreed on the timing of the implementation of new projects in the field of tourism – hotel construction.

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Trump: Both Russia and China interested in establishing relations with United States

Both Russia and China are interested in establishing relations with the United States, US President Donald Trump said on Fox News’ The Ingraham Angle on Tuesday.

Asked by the host if it was possible to believe that Putin really wants this, while he is influenced by “his close friend, President Xi of China,” Trump replied that “we have our own discussions with President Xi of China, and he also wants to make a deal and we want to make a deal with him. And we will do that.”

Trump blamed the Barack Obama administration for the rapprochement between Russia and China.

“Obama really forced them together through energy and bad energy policy. And when he did so many different things, he forced (them) into a marriage that should never have happened. Because it’s unnatural. And for one reason: Russia has a huge territory, a lot of land, and China doesn’t have enough land. Russia has a much smaller population than China. And it’s natural, it’s always been a natural hostile situation,” Trump said.

“Maybe they’re friendly now, but we’re going to be friendly with both of them. I think we will be friendly with both. China desperately needs us in terms of trade, but we have to equalize the deficit,” he added.

“I think President Xi would like to reach an agreement, and I think Russia would like to reach an agreement with the United States,” Trump summarized.

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Polish President doubts that increased aid to Ukraine from Europe will be able to compensate for suspension of aid from United States

President of Poland Andrzej Duda has stated the need to end the war in Ukraine with a just and lasting peace and emphasized the importance of transatlantic ties, the Polish President’s Office reports.

“Every day we bear the risks of war on our shoulders. The war in Ukraine must end. It must end in a just and lasting peace. Maintaining ties between the United States and Europe is fundamental,” Duda said.

He expressed doubt that increased aid to Ukraine from European countries would be able to compensate for the cessation of US aid, and called on Ukrainian President Volodymyr Zelenskyy to return to talks with the US side on continued support.

“President Zelensky must return to the negotiating table at any cost and as soon as possible, because it is in his interest that Ukraine survives this war. In my opinion, Ukraine will not survive without the support of the United States,” the Polish president said.

According to him, there is nothing to indicate that Europe will change its behavior and provide large-scale assistance to Ukraine. “Perhaps the whole of Europe will radically change its previous behavior and suddenly stand firmly and unanimously against Russia and provide Ukraine with exceptionally large-scale assistance that will allow it to continue to defend and fight. Perhaps it will provide such assistance and Ukraine will not be conquered by Russia, and secondly, this war will end happily for Ukraine. However, after what Europe has done in this regard, there is absolutely nothing to indicate this. If anyone can force Russia to end the war, it is the United States of America,” the president said.

Duda is also convinced that if an agreement is concluded between the US and Ukraine on minerals, “Ukraine will become strategic for the interests of the United States, and I am convinced that they will protect it.”

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United States presented Ukraine with new version of agreement on mineral resources

The agreement between the United States and Ukraine on rare earth materials provides for the establishment of a commercial fund in which the United States will have a 100% financial interest and Ukraine will allocate funds for it. The text of the agreement, which is current as of Friday evening, February 21, is available to Ekonomichna Pravda.

The document is to be signed by Ukrainian Foreign Minister Andriy Sybiga and US Secretary of State Marco Rubio.

According to the draft agreement, Ukraine and the United States are establishing a commercial investment fund for reconstruction, in which the United States will retain 100% of the financial interest. Ukraine and the United States will manage it jointly.

The Fund is expected to help increase foreign direct investment in Ukraine by at least two times for every dollar contributed. The goal is to return Ukraine’s GDP to the level of the end of 2021.

The Investment Fund will receive 50% of revenues from Ukrainian mineral and oil and gas resources (less actual costs) for reinvestment in the Ukrainian economy (mining and processing infrastructure, ports, etc.).

In addition, the draft agreement provides for the redirection of revenues from other Ukrainian sources to be determined by the governments of Ukraine and the United States.

Revenues from facilities that were occupied by Russia at the time of signing the agreement may exceed 50% in the event of de-occupation.

Contributions of Ukrainian revenues to the fund will continue until the amount agreed upon by the governments is reached. All non-credit financial assistance from the United States that comes to Ukraine after the agreement is signed will increase the threshold for contributions from Ukrainian revenues.

According to the text, the United States intends to make a financial commitment to help Ukraine in an amount to be determined separately.

The agreement on the fund will not contradict Ukraine’s other international obligations, as well as its future integration into the EU or other associations.

Ukraine and the United States undertake to immediately begin drafting a separate agreement that will define the details of the future Fund.

It is noted that the Ministry of Economy will be responsible for drafting the future agreement on the part of Ukraine.

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President of Ukraine believes that without security guarantees, economic agreement with United States on rare earth metals will not work

President of Ukraine Volodymyr Zelenskyy believes that without security guarantees, the economic agreement with the United States on rare earth metals will not work.

“If we do not receive security guarantees from the United States, I believe that the economic agreement will not work. Everything must be honest,” Zelensky said in an interview with NBC News.

The President of Ukraine made it clear that any deal involving Ukrainian minerals must be accompanied by security guarantees from the United States.

“We looked at what America imports, what rare earth metals, what America imports for its industry. And when we took titanium as an example, we say that we have titanium in Ukraine, and this is accurate information. And it’s enough for the industry for 40 years,” he said.

“Help us protect it, and we will make money on it together,” Zelenskyy said.

For its part, the United States called Ukraine’s position short-sighted, the Associated Press reports.

White House National Security Council spokesman Brian Hughes said in a statement that “President Zelensky is short-sighted in his assessment of the great opportunity the Trump administration has provided to Ukraine.”

Hughes said that the minerals deal would allow U.S. taxpayers to “recoup” money sent to Kyiv while also helping to develop Ukraine’s economy.

Hughes added that the White House believes that “binding economic ties with the United States will be the best safeguard against future aggression and an integral part of a lasting peace.” He added: “The United States recognizes this, the Russians recognize this, and Ukrainians should recognize this,” AR writes.

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