Ukraine has deposits of over 20 critical rare earth minerals, including lithium, uranium, and titanium, essential for manufacturing modern technologies like electric car motors and wind turbines. Most of these deposits are either near the frontline or in Russian-occupied territory in the east and south of Ukraine.
The US President stated:
"We're looking to do a deal with Ukraine where they're going to secure what we're giving them with their rare earth and other things," Trump said at the White House, according to Reuters.Trump criticized European allies' level of support, claiming, per AP, that the US had provided more military and economic aid to Ukraine than its European partners. However, according to the Kiel Institute, as of late October 2024, Europe had allocated €124.7 billion in aid and pledged an additional €115.9 billion, while the US had allocated €88.3 billion and pledged €30.7 billion.
"I want to have security of rare earth. We're putting in hundreds of billions of dollars. They have great rare earth. And I want security of the rare earth, and they're willing to do it."A senior Ukrainian official, speaking anonymously to the New York Times, indicated Ukraine's willingness to work with the US on rare earth mineral deals, provided adequate security guarantees against Russian control of these resources. The proposal aligns with Ukrainian President Volodymyr Zelenskyy's "Victory Plan" presented last year, which offered western allies access to what officials described as "trillions of dollars" of raw materials, Bloomberg reports. Related:
- Trump’s peace deal for Ukraine is limited to a ceasefire – and it’s not even clear if Kyiv or Moscow are going to play ball
- “Discussions going pretty well”: Trump says US scheduled meetings with both Ukraine and Russia
- Zelenskyy warns against Ukraine’s exclusion from US-Russia peace talks
- Trump’s envoy Kellogg pushes for Ukrainian elections in 2025 after potential ceasefire
- VOA: West must abandon “democratic Russia” hope even after potential peace talks, say experts
- Finnish President Stubb sees ceasefire possible in Ukraine in upcoming months
- Western leaders affirm commitment to Zelenskyy’s victory plan at Crimea Platform Summit
