WASHINGTON – US President Donald Trump announced on February 3rd that his administration is seeking an agreement with Ukraine to secure access to the country’s rare earth resources in exchange for continued military and financial support.
During a press conference at the White House, Trump emphasized the importance of ensuring that the aid provided to Ukraine is reciprocated with access to valuable minerals, including rare earths, which are crucial for advanced technologies and green energy.
Trump’s proposal aligns with Ukrainian President Volodymyr Zelensky’s “Victory Plan,” which offers Western allies access to Ukraine’s vast natural resources, including uranium, titanium, and lithium, in exchange for security and investment.
China currently dominates the rare earths market, controlling about 70% of production and over 90% of refining. Trump has also indicated plans to leverage China’s influence over Russia to push for a resolution to the ongoing conflict.
The US has been a significant supporter of Ukraine since the full-scale invasion by Russia in February 2022, providing over $30 billion in budget support and nearly $70 billion in security assistance. Trump has called on European allies to increase their contributions, stating that it is more critical for them than for the US.
This proposed deal aims to secure Ukraine’s ability to maintain control over its resource-rich territories and ensure the country’s long-term security.