Zelensky offers US rare earth minerals deal amid Trump aid conditions
3 Min Read
The Ukrainian president noted the importance of mineral investments as part of his economic strategy for winning the war, framing it as an integral component of Ukraine's post-war reconstruction and security.
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Ukraine President Volodymyr Zelensky addresses the 79th session of the United Nations General Assembly, September 25, 2024, at UN headquarters. (AP)
Ukrainian President Volodymyr Zelensky has called on American companies to invest in Ukraine's rare earth minerals, responding to US President Donald Trump's recent remarks suggesting that security assistance to Kiev should be tied to access to these resources.
On Monday, Trump stated that he expects strategic metals in return for US security guarantees, emphasizing the importance of these materials for various technologies. "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," Trump said.
Zelensky, who had previously raised the idea with Trump last year, said allowing US firms to develop these resources would be a fair exchange for Washington's military and economic aid in Ukraine's war with Russia.
"I would like US business... to develop this field here," Zelensky said in comments released by his office.
"We are open to the fact that all this can be developed with our partners, who are both helping us to protect our land and pushing the enemy back with their weapons, and sanctions packages — and this is absolutely fair," he added.
Strategic resources and Ukraine's victory plan
Zelensky noted the importance of mineral investments in his economic strategy for winning the war, framing it as an integral component of Ukraine's post-war reconstruction and security.
He explained that the matter is "an important economic point" within his broader "victory plan" for securing Ukraine's future.
The Ukrainian president also revealed that he had discussed this investment initiative during a meeting with Trump in the US last autumn, telling him, "I told him that we are open to investments from American companies."
At the time, Zelensky noted that this initiative aimed to safeguard Ukraine's natural resources while fostering economic ties with key international allies.
The proposal has drawn criticism from international leaders, with German Chancellor Olaf Scholz describing Trump's approach as "selfish" and suggesting that these resources should be preserved for Ukraine's post-war recovery rather than leveraged as a condition for aid.
Read more: Ukraine's lithium wealth diminishes as key deposits fall to Russia
Diplomatic engagement with Trump's team
Zelensky also confirmed that discussions are underway with Trump's Ukraine envoy, Keith Kellogg, and preparations are in progress for a delegation visit to Kiev.
"We already have started working on the dates when the American team will arrive. We are now agreeing on the dates and the delegation, and we are waiting for the teams. We will work jointly," he said.
Later on Tuesday, in his evening address, Zelensky stated that his administration had already begun "substantial talks" with Trump's representatives on this issue.
Meanwhile, rare earth elements remain a key global resource, with China currently controlling around 70% of the global supply. The US has been seeking to reduce its reliance on Beijing, making access to Ukraine's reserves particularly strategic.
Read more: Graham urges more aid to 'trillion dollars’ worth of minerals' Ukraine
