There are some $350bln worth of resources in Russian-held areas: Kiev
2 Min Read
Ukraine says there are some $350 billion worth of critical resources in Russian-controlled areas, as the US pushes for a deal to secure preferential access to Ukraine’s resource base.
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A view of damaged coal mines in the partially occupied Toretsk town, the site of heavy battles with the Russian troops in the Donetsk region, Ukraine, Saturday, Feb. 22, 2025 (AP)
Around $350 billion worth of Ukraine's critical resources are located in areas captured by Russia, Ukrainian authorities said Sunday, as the United States pushes for a deal to secure preferential access to the country's resource base.
"We have information that, unfortunately, there is about $350 billion worth of these useful critical materials in temporarily occupied territory," Deputy Prime Minister Yulia Svyrydenko said during a news conference in Kiev.
The statement comes as Washington seeks agreements ensuring long-term access to Ukraine’s rich reserves of essential raw materials, including rare earth elements and minerals vital for defense and technology industries.
The US has been a key supporter of Ukraine, providing military and financial aid as the war with Russia continues.
Ukraine is known to have vast deposits of lithium, titanium, and other critical minerals that are essential for modern industries. The war has significantly disrupted access to these resources, with a substantial portion now under Russian control.
Ukraine revising US mineral deal
Ukraine has submitted updated proposals to the United States regarding a minerals agreement aimed at granting US access to its rare earth resources, Fox News reported on Saturday.
The revised document is expected to be signed by US Secretary of State Marco Rubio and Ukrainian Foreign Minister Andrii Sybiha, although no specific timeline has been set.
The negotiations come as Ukraine seeks stronger security guarantees, following its rejection of an earlier US proposal that offered military aid in exchange for 50% ownership of mineral revenues.
This rejection was influenced by US President Donald Trump's demand for $500 billion in economic returns from Ukraine, covering not only minerals but also ports, infrastructure, oil, and gas, effectively placing Ukraine's economy under US control.
These terms were compared to post-war reparations, heightening concerns about economic sovereignty.
