regime should be delayed until the feasibility of exploitation of lunar resources has been established. The objection to the treaty by the spacefaring nations is held to be the requirement that extracted resources (and the technology used to that end) must be shared with other nations. The similar regime in the United Nations Convention on the Law of the Sea is believed to impede the development of such industries on the seabed. The United States, the Russian Federation, and the People's Republic of China (PRC) have neither signed, acceded to, nor ratified the Moon Agreement. Legal regimes of some countries Luxembourg In February 2016, the Government of Luxembourg said that it would attempt to "jump-start an industrial sector to mine asteroid resources in space" by, among other things, creating a "legal framework" and regulatory incentives for companies involved in the industry. By June 2016, it announced that it would "invest more than in research, technology demonstration, and in the direct purchase of equity in companies relocating to Luxembourg". In 2017, it became the "first European country to pass a law conferring to companies the ownership of any resources they extract from space", and remained active in advancing space resource public policy in 2018. In 2017, Japan, Portugal, and the UAE entered into cooperation agreements with Luxembourg for mining operations in celestial bodies. In 2018, the Luxembourg Space Agency was created. It provides private companies and organizations working on asteroid mining with financial support. United States Some nations are beginning to promulgate legal regimes for extraterrestrial resource extraction. For example, the United States "SPACE Act of 2015"—facilitating private development of space resources consistent with US international treaty obligations—passed the US House of Representatives in July 2015. In November 2015 it passed the United States Senate. On 25 November US-President Barack Obama signed the H.R.2262 – U.S. Commercial Space Launch Competitiveness Act into law. The law recognizes the right of U.S. citizens to own space resources they obtain and encourages the commercial exploration and utilization of resources from asteroids. According to the article § 51303 of the law: On 6 April 2020 US-President Donald Trump signed the Executive Order on Encouraging International Support for the Recovery and Use of Space Resources. According to the Order: Americans should have the right to engage in commercial exploration, recovery, and use of resources in outer space the US does not view space as a "global