Russian President Vladimir Putin has stated that he is ready to grant the United States access to rare mineral resources, including those in Russian-controlled Ukrainian territories. In a state television interview on Monday, Putin expressed interest in collaborating with American partners on joint projects, including mineral extraction in what he referred to as Russia’s “new territories.” British news agency Reuters reported this development.
By “new territories,” Putin was referring to parts of eastern Ukraine that Russia seized through a full-scale invasion three years ago.
Under this proposal, Russia and the U.S. could collaborate on aluminum extraction and supply, which Putin claims would help stabilize global prices.
Putin’s remarks come at a time when U.S. President Donald Trump is pressuring Ukraine to relinquish some of its mineral resources. A Ukrainian minister has claimed that a deal on this matter is in its final stages.
In the television interview, Putin countered Trump’s pressure by stating that Russia is ready to work with “foreign partners” in mining its resources. He asserted that Russia possesses far more mineral resources than Ukraine.
Putin added, “The same applies to the new territories. We are ready to attract foreign partners, which will be beneficial for our historic lands.”
He also suggested that Russia and the U.S. could cooperate in aluminum production in the Krasnoyarsk region of Siberia, where the Russian aluminum company Rusal operates its largest smelting plant.
Following Putin’s comments, Kremlin spokesman Dmitry Peskov told reporters on Tuesday that this opens up vast opportunities, as the U.S. seeks rare minerals and Russia has them in abundance.
Meanwhile, the Trump administration is increasing pressure on Ukraine to finalize a deal on mineral resource transfers. According to Ukrainian estimates, nearly 5% of the world’s essential raw materials are located within its territory. However, a significant portion has been under Russian control over the past three years due to the invasion.
Trump recently stated that the U.S. has provided approximately $500 billion in military and economic aid to Ukraine, and he wants America to gain access to Ukrainian mineral resources in return.
However, Ukrainian President Volodymyr Zelensky has questioned the aid figures and insists that any deal must include security guarantees.
On Monday, Ukrainian Deputy Prime Minister Olga Stefanishina said discussions on the agreement have been highly constructive, with consensus reached on almost all key issues.
Meanwhile, the European Union has also proposed a partnership to gain access to Ukraine’s mineral resources. European Commission’s Industry Strategy Commissioner, Stéphane Séjourné, called it a “mutually beneficial” initiative.