Trump’s price for Ukraine aid: $500bln in rare earths
3 Min Read
In a recent interview, US President Donald Trump emphasized that Washington should secure compensation, particularly in rare earth minerals, in return for its substantial support to Kiev.
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US President Donald Trump smiles after a fireworks show at Trump National Golf Club in Sterling, Va., Saturday, Jan. 18, 2025, ahead of the 60th Presidential Inauguration. (AP)
American support for Ukraine now comes with a hefty price tag—$500 billion worth of mineral wealth, according to US President Donald Trump.
In the second part of an interview for Fox News that aired late Monday, Trump stated that the United States should be compensated for the substantial financial aid it has provided to Kiev in its fight against Russia.
"I told them [Ukraine] that I want the equivalent like $500B worth of rare earth. And they've essentially agreed to do that so at least we don’t feel stupid," Trump said.
"Otherwise, we're stupid. I said to them we have to—' we have to get something. We can’t continue to pay this money,’" he added.
Why it matters
Ukraine possesses significant reserves of essential minerals, such as lithium and titanium, which are critical for modern industries. It also holds vast deposits of coal, oil, gas, and uranium.
Ukrainian President Volodymyr Zelensky has been leveraging the prospect of US involvement in developing his country’s resources to maintain Trump’s support. The proposal was also included in Ukraine’s "victory plan", a framework of economic and security policies designed to ensure lasting peace with Russia.
"The Americans helped the most, and therefore the Americans should earn the most," Zelensky said in an interview with Reuters on Friday. "I would also like to talk about this with President Trump."
Trump has previously expressed interest in capitalizing on Ukraine’s resource wealth, emphasizing his ambition to outcompete China in securing critical materials.
Earlier this month, he told reporters in the Oval Office, "We’re looking to do a deal with Ukraine where they’re going to secure what we’re giving them with their rare earths and other things."
His comments have drawn criticism from European leaders, with German Chancellor Olaf Scholz condemning Trump’s approach as "very egotistic, very self-centered."
Read more: Trump's push for Ukraine's rare earth elements explained
Russia warns Trump: Stay away from Ukraine's rare earths
It is worth noting that a senior Russian official condemned US President Donald Trump's proposal to provide military aid to Ukraine in exchange for access to its valuable mineral resources.
Kremlin spokesperson Dmitry Peskov has lately told reporters, "If we call things as they are, this is a proposal to buy help — in other words, not to give it unconditionally, or for some other reasons, but specifically to provide it on a commercial basis."
Peskov added, "It would be better of course for the assistance to not be provided at all, as that would contribute to the end of this conflict," referring to a war initiated by Russia.
German Chancellor Olaf Scholz also criticized Trump's suggestion, labeling it as "very egotistic, very self-centered" and emphasizing that Ukraine would need its natural resources for postwar reconstruction.
Read more: Rare earth elements and their applications; why the global competition
