Trump has a deal for Ukraine: Want aid? We want your minerals

In line with his transactional style of governance, US President Donald Trump has said Ukraine should pay for US aid with rare earth minerals.

Trump said that he is looking to make a deal with Ukraine where the US assistance would be conditioned on the Ukrainian supply of rare earth minerals.

In the war with Russia, Ukraine is dependent on foreign assistance. While the United States has been the primary supporter, the support has become uncertain since Trump took over. He has been a critic of US support and has accused Ukrainian President Volodymyr Zelenskyy of emptying US coffers. Contrary to the longstanding US policy, he has been friendly with Russia and his allies have floated plans to end the war that would essentially mean a Russian victory.

In remarks at the White House on Monday, Trump said, “We’re telling Ukraine they have very valuable rare earths. 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. We want a guarantee. We’re handing them money, hand over fist.”

Repeating his longstanding complaint that Europe was not doing enough, Trump further said, “It’s more important for them than it is for us, but they’re way below us in terms of money.”

German Chancellor Olaf Scholz criticised Trump’s demand and said the quid pro quo would be “very selfish, very self-centred”.

Instead of the United States exploiting Ukraine’s natural resources, such resources would be better used for the country’s reconstruction after the war, said Scholz on Monday, according to Guardian.

Even though Scholz criticised Trump’s demand, Zelenskyy had referred to such an arrangement last year when he was floating his ‘Victory Plan’ to Western leaders, including Trump. He said at the time that Ukraine holds significant reserves of natural resources and such resources would be better utilised by Ukraine and its Western partners instead of occupying Russian forces.

In a document on its website, the Ukrainian foreign ministry says the country is rich in uranium, titanium, lithium, graphite, etc. It went on to say that the control of these deposits is a key objective of Russia.

“The deposits of critical resources in Ukraine, along with Ukraine’s globally important energy and food production potential, are among the key predatory objectives of Russia in its war. Therefore, Ukraine proposes to key partners – the EU, the United States, and our mutual global partners – to make a special agreement on protecting Ukraine’s critical resources, joint investment, and directing the relevant economic potential for our shared growth,” said the foreign ministry.

Separately, The New York Times reported that the Ukrainian government maintains that the country has deposits of more than 20 critical rare earth minerals with some consultancies and equity firms valuing the deposits at many trillions. However, many deposits are inaccessible because of the ongoing war and Russian occupation of Ukrainian territories.