Ukraine Ready to Trade Rare Earths for Military Aid, Zelenskyy Says Ahead of Trump Meeting

Ukrainian President Volodymyr Zelenskyy and then former President Donald Trump, gather for a meeting in New York City, on Sept. 27, 2024. Alex Kent/Getty Images

Ukrainian President Volodymyr Zelenskyy said on Friday that he is open to a deal granting the United States access to Ukraine’s vast rare earth and critical mineral deposits in exchange for continued military aid amid the ongoing Russia–Ukraine war.

“If we are talking about a deal, then let’s do a deal, we are only for it,” Zelenskyy told Reuters reporters in a Feb. 7 interview in Kyiv, stressing that Ukraine would require security guarantees from its allies as part of any agreement on supplies of critical minerals and rare earths.

Trump told reporters at the White House on Feb. 3 that he was looking to strike a deal with Zelenskyy on securing rare earths in return for continued financial support for Ukraine in its war against Russia.

Rare earth metals, a collection of 17 essential elements, play a key role in powering modern technology, from electric vehicle motors to missile guidance systems. With no practical substitutes, securing supply chains for these elements is a priority for Trump as he seeks to strengthen America’s manufacturing base.

Speaking to reporters at the Oval Office on Feb. 7, Trump said he plans to meet Zelenskyy next week, possibly in Washington, for talks about the long-running conflict between Russia and Ukraine. Trump said that the discussions will include asking Ukraine to supply its rare earths and other critical minerals in exchange for continued U.S. financial assistance that Kyiv needs to continue resisting Russia’s invasion.

In response, Zelenskyy said he hopes the talks lead to a lasting peace in Ukraine.

“The coming weeks may be very intensive in diplomacy, and we will do what’s needed to make this time effective and productive. We always appreciate working with President Trump,” Zelenskyy said in a post on X on Feb. 7. “Weʼre also planning meetings and talks at the teams’ level. Right now Ukrainian and American teams are working out the details. A solid, lasting peace shall become closer.”

Trump also said Friday that he plans to speak with Russian President Vladimir Putin as part of the U.S. president’s efforts to broker a peace deal between Russia and Ukraine. “It’s a ridiculous war,” Trump said, adding that he “would very much like to help” bring about peace in the region.

Zelenskyy’s openness to striking a deal with the United States comes as little surprise as his “victory plan“ includes an explicit offer to strategic partners for ”joint protection of the country’s critical resources,” along with an offer to extract and make use of these key elements.

In Kyiv, Zelenskyy told Reuters that around half of Ukraine’s rare earth deposits were under Russian occupation, with that figure dropping to less than 20 percent when counting all of the country’s vast mineral resources. Ukraine holds Europe’s largest titanium reserves, vital for aviation and space industries, and uranium, crucial for nuclear energy and weapons, he said.

“The Americans helped the most, and therefore the Americans should earn the most,” Zelenskyy said of U.S. military and other aid to Ukraine amid the Russian invasion. “And they should have this priority, and they will. I would also like to talk about this with President Trump.”

Trump said Friday that the United States has already committed more than $300 billion to Ukraine’s defense, while European contributions lag at approximately $100 billion.