 "US President Donald Trump and Ukraine's President Volodymyr Zelenskyy meet at Trump Tower in New York City, US, September 27, 2024. File Image/Reuters")
Former President Donald Trump has created buzz all over Europe, after saying on Monday that Ukraine should provide the US with rare earth minerals– including lithium, uranium, and titanium– in exchange for the military aid it depends on to resist Russia’s invasion.
Speaking to reporters in the Oval Office, Trump said he wanted “equalisation” for what he described as “close to $300 billion” in US assistance. “We’re telling Ukraine they have very valuable rare earths,” Trump said. “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.”
It was unclear whether Trump meant Ukraine should supply minerals free of charge or sell them at a discounted rate.
Criticism from world leaders
His remarks drew criticism from European allies, with German Chancellor Olaf Scholz calling the proposal “selfish” and arguing that Ukraine’s resources should be used for reconstruction rather than as collateral.
The Kremlin, meanwhile, characterised Trump’s remarks as an attempt to make Kyiv “buy” American support. “It would be better, of course, if the assistance were not provided at all, as that would contribute to ending the conflict,” Kremlin spokesperson Dmitry Peskov said Tuesday.
Where Trump and Zelenskyy agree
Despite the criticism, officials in Kyiv saw Trump’s interest in Ukraine’s mineral wealth as a potentially positive development, given uncertainty over continued US support since his election. Ukrainian President Volodymyr Zelenskyy responded Tuesday (February 4) by saying Ukraine welcomed “investment” from partners aiding its war effort.
Ukraine is open to “investment” from “partners who help us defend our land and push the enemy back with their weapons, their presence, and sanctions packages. And this is absolutely fair,” Zelenskyy told reporters.
Was Using mineral reserves Zelenskyy’s idea?
Zelenskyy first suggested providing the United States with critical materials during his meeting with Trump before the November election, Kyiv Independent reported citing a source in Ukraine’s presidential office.
He also outlined the idea to foreign leaders during the US presidential campaign, anticipating that a Trump administration would press Kyiv to negotiate with Moscow.
Threat to Ukraine’s minerals from Russia
Ukraine is home to vast reserves of rare earth minerals essential for advanced military technology and clean energy production. Russia has already seized control of Ukrainian territories with energy deposits, metals, and minerals worth at least $12.4 trillion, according to industry estimates.
For months, Zelenskyy has warned that Russia is targeting Ukraine’s mineral wealth as part of its war strategy, a claim echoed in Western intelligence assessments.
With inputs from agencies