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President Donald Trump on Monday said he wanted a deal granting the US access to Ukraine’s rare earths resources in exchange for continued military and economic aid to Kyiv as it struggles to halt Russia’s invasion.
The proposal appears to align with a strategy Ukraine has been developing to deepen ties with the Trump administration by allowing the US access to critical minerals used in high-tech industries.
Speaking at the White House, Trump reiterated complaints that Washington had provided more support to Ukraine than its European allies.
“We’re looking to do a deal where they’re going to secure what we’re giving them with their rare earth and other things,” he said of Ukraine.
Trump suggested Ukrainian President Volodymyr Zelenskyy’s government was open to it.
“We’re putting in hundreds of billions of dollars,” said Trump. “They have great rare earth. And I want security of the rare earth, and they’re willing to do it.”
A person close to Zelenskyy told the Financial Times that Trump’s remarks “seem to align with the ‘victory plan’ presented to him in the fall”. The person said Ukraine had offered Trump “special terms” for co-operation on key resources, stressing the need to protect them from Russia and Iran.
“Of course, we are ready to work with America,” the person added.
Zelenskyy presented an outline of the plan to Trump in New York last September during the US election campaign.
It includes the sharing of critical natural resources with western partners, replacing US troops in Europe with Ukrainian forces and offering Trump investment screening powers to block Chinese business interests in Ukraine.
Kyiv holds vast reserves of titanium, iron ore and coal, as well as about 500,000 tonnes of untapped lithium, collectively estimated to be worth tens of trillions of dollars.
Some of these resources are at risk of being lost to Russia’s advancing forces in Ukraine’s east, or have already fallen under Russian occupation.
“Control over mineral resources has become a part of the war,” said Mustafa Nayyem, the former head of Ukraine’s state agency for restoration and infrastructure development. The country is not only fighting for its territory, he added, “but also for the right to manage its strategic wealth, which could be a crucial factor in its recovery”.
Trump has vowed to bring a swift end to Russia’s war against Ukraine. He previously said his administration had held “very serious” talks with Russia over the war.
“We made a lot of progress on Russia, Ukraine,” Trump said on Monday. “We’ll see what happens. We’re going to stop that ridiculous war.”
While supportive of Trump’s enthusiasm to bring the three-year war to an end, the American leader’s suggestion that he had formulated part of a plan with Russia without Ukraine has irked leaders in Kyiv.
Speaking to the Associated Press on Saturday, Zelenskyy said his team had engaged with Trump’s advisers and expected in-person meetings soon.
“They may have their own relations, but talking about Ukraine without us — it is dangerous for everyone,” Zelenskyy said.
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