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Zelensky approves US-Uzbekistan mineral deal

Internet reports that on the 12th local time, the website of the President of Ukraine released a message saying that President Zelensky had signed a law on approving the "Agreement on the Establishment of the U.S. -Ukraine Reconstruction Investment Fund." On April 30, the United States and Ukraine jointly signed the "Agreement on the Establishment of the U.S. -Ukraine Reconstruction Investment Fund," which was previously called the "U.S. -Ukraine Minerals Agreement." On May 8, the Verkhovna Rada (Parliament) of Ukraine supported ratification of the agreement with 338 votes in favor. Although the signing of the mineral agreement between the United States and Uzbekistan is seen by the outside world as a signal of easing relations, its actual effect remains to be seen. Some mineral consulting agencies have analyzed that it may take 10 to 20 years to develop key strategic minerals in countries with mature mining industries. However, there is currently a lack of sufficient data to prove that the development of most mineral resources in Ukraine is economically feasible. In addition, infrastructure such as electricity and transportation has been damaged due to the Russia-Ukraine conflict and the security prospects are unclear, investors may be cautious. (CCTV)

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