President Trump wants Ukraine to use rare earth reserves in exchange for US aid
Feb 04, 2025
Washington [US], February 4: On February 3, President Donald Trump said he wanted to sign an agreement allowing the US to access Ukraine's rare earth reserves if the Kyiv government still wanted to receive aid from Washington to deal with the Russian military.
At a press conference in the Oval Office, President Trump complained that the US provided more military and economic aid to Ukraine than its European partners, adding that he wanted to reach an agreement requiring Ukraine to return rare earths and other things, according to Reuters on February 4.
The White House owner said he had received a signal from the Kyiv government that it was willing to allow the US access to rare earth resources, which are essential if it wants to ensure a high-tech economy.
Mr. Trump also said that the parties were discussing steps to end the conflict in Ukraine, and assured that the US had made a lot of progress with Russia and Ukraine.
AP last weekend quoted Ukrainian President Volodymyr Zelensky as saying that any negotiations between the US and Russia without Ukraine's presence were unacceptable.
Mr. Zelensky also said that Kyiv had contacted the Trump administration, but the discussions were only general and no specific detailed agreements had been reached.
Regarding rare earths, the World Economic Forum 2024 report shows that Ukraine has the potential to be a major supplier of rare earths to the world, with rare earths being essential raw materials for the defense, high-tech and green energy industries.
Ukraine has the largest titanium reserves in Europe, accounting for 7% of the world's. Before the outbreak of hostilities in February 2022, Ukraine was an important supplier of titanium to the military industry.
The list of rare earths in Ukraine includes beryllium, manganese, gallium, uranium, zirconium, graphite, apatite, fluorite and nickel. The country also has the largest reserves of lithium in Europe, estimated at half a million tonnes. This is a particularly important mineral for batteries and accumulators.
Source: Thanh Nien Newspaper
