President Donald Trump has reportedly claimed he is seeking to strike a deal with Ukraine’s government to exchange Ukraine’s rare earth metals for the US’ continued military support.
Rare earth minerals are crucial for the manufacturing of myriad technological devices ranging from computer chips to cell phones to electronic vehicles.
Currently, China is the largest producer of processed critical minerals, processing nearly all of the available critical mineral stock.
According to an International Energy Agency (IEA) report, China processes 40% of mined Copper, 70% of Cobalt, 65% of Lithium, 100% of Graphite, and 90% of rare earth metals.
President Trump has previously demonstrated interest in pursuing rare earth-mining opportunities abroad, such as by seeking to expand relations and possibly even ‘purchase’ rare earth mineral-rich Greenland.
Trump’s latest comments suggest he plans to secure Ukrainian rare earth mineral exports to the US if Ukraine is to continue receiving American military support.
"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," Trump reportedly said. "We're putting in hundreds of billions of dollars. They have great rare earth. And I want security of the rare earth, and they're willing to do it."
Kremlin Spokesperson Dmitry Peskov criticized Trump’s proposal, alleging “it means that there will no longer be any free or other kind of assistance, but it will be provided on a commercial basis."
Trump’s proposal to Ukraine imply he may be considering a continuation of the Russia-Ukraine war, a conflict he previously alleged he wanted to see quickly end.
Trump had recently signaled a willingness to broker an end to the Russia-Ukraine war, threatening stiff sanctions if Russia resists.
While claiming he intends to negotiate in good faith to not “hurt Russia…whose Economy is failing,” Trump concomitantly warned the war’s continuation would leave him “no other choice but to put high levels of Taxes, Tariffs, and Sanctions on anything being sold by Russia.”
The Kremlin responded that they are open to negotiating an end to the war, but Trump’s prospective rare earth mineral deal with Ukraine could winnow the US’ desire in pressuring both Ukraine and Russia to cease fighting.
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