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17 hours ago
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Ukraine is open to “investment” from allies as long as they help it fight Russia, President Volodymyr Zelenskyy says, after Donald Trump demanded Kyiv supply the US with rare earth resources – critical elements used in electronics – in exchange for military aid.
The US president’s proposal has been criticised as exploiting Russia’s invasion for material gain, with the German chancellor, Olaf Scholz, calling the plan “selfish”. However, Ukrainian media reported that the idea may have originated in Kyiv as an incentive to keep weapon shipments flowing into the country.
Speaking to reporters at the White House on Monday, Trump said he wanted “equalisation” from Ukraine for Washington’s “close to $300bn” in support. “We’re telling Ukraine they have very valuable rare earths,” Trump said. “We’re looking to do a deal with Ukraine where they’re going to secure what we’re giving them with their rare earths and other things.”
It was not clear if Trump meant a deal in which Ukraine supplied minerals free of charge in exchange for US military aid, or simply agreed to sell them, possibly at a favourable rate.
On Tuesday, when asked about the proposal, Zelenskyy told reporters Ukraine was open to “investment” from “partners who help us defend our land and push the enemy back with their weapons, their presence, and sanctions packages. And this is absolutely fair.”
Zelenskyy said he had previously discussed the issue with Trump and that his teams were preparing for a visit by a US delegation.
“Rare earths” refers to a group of 17 elements prized for their unique magnetic and electrochemical properties. They are used in many modern products, from smartphones to electric vehicle batteries to cancer treatment drugs.
China is by far the world’s largest producer of rare earths, accounting for about 70% of global production. The elements have been designated as critical by the US Geological Survey for sectors including national defence, and Washington has sought to reduce its reliance on Beijing.
Scholz criticised Trump’s transactional foreign policy, saying “it would be very selfish, very self-centred”. Germany is Ukraine’s second-largest military donor after the US.
Such resources would be better used for Ukraine’s reconstruction after the war, Scholz said, speaking after a meeting of EU leaders in Brussels on Monday.
The Kyiv Independent cited a source in Ukraine’s presidential office as saying that a deal over the country’s resources with allies was in fact first proposed in Zelenskyy’s “victory plan”, which includes a mix of economic and security incentives and demands of western allies.
Zelenskyy presented the proposal to foreign leaders during the US presidential campaign, knowing that a Trump administration would add pressure on Kyiv to come to an agreement with Moscow.
The plan offers deals on strategic mineral deposits in Ukraine that Zelenskyy said were worth trillions of dollars. Those included uranium, titanium, lithium and graphite, which are not rare earth metals, but also unnamed “other strategically valuable resources”.
Moscow said on Tuesday that Trump’s desire for rare earth metals was a clear offer to Ukraine to buy US assistance. “It would be better of course for the assistance to not be provided at all, as that would contribute to the end of this conflict,” said the Kremlin’s spokesperson, Dmitry Peskov.
Vladimir Putin launched a full-scale invasion of Ukraine in 2022. Russia has made gradual but steady advances in the east of the country in recent months despite record casualties.
