U.S. President Donald Trump is showing interest in the minerals buried in Ukraine as a way to recover the costs of military support for Ukraine, which is at war with Russia. This is because Volodymyr Zelensky, the President of Ukraine, is also seeking support from the West, noting that his country is rich in minerals like titanium and uranium worth trillions of dollars. However, most minerals, including rare earths, are buried in Russian-occupied territories, raising questions about whether the West can secure them.
On March 3 (local time), Trump met with reporters at the White House and said, "The U.S. has supported Ukraine to the tune of nearly $300 billion," adding, "I want something in return." He further noted, "Ukraine has very valuable rare earths," and stated, "We are considering a transaction to ensure support for Ukraine and obtain rare earths from Ukraine."
Ukraine is receptive to Trump's proposal to exchange its rare earths for military support from the U.S. Zelensky stated on the 8th via X (formerly Twitter), "Ukraine boasts the largest strategic resource deposits in Europe," arguing that "protecting Ukraine means protecting these resources." Additionally, in an interview with Reuters on the 7th, Zelensky emphasized, "We have mineral resources. We do not give these resources to just anyone, even as strategic partners. Invest in them. Let's develop them together and make money."
According to the U.S. government, 22 of the 34 minerals designated as critical by the European Union (EU) are buried in Ukraine. These include industrial and construction materials, ferrous alloys, precious and non-ferrous metals, and some rare earth elements. There are also substantial coal deposits in Ukraine.
The issue is that most of Ukraine's mineral resources are buried in Russian-occupied regions. According to a mineral map published by the State Geological Survey of Ukraine, the area where rare earths are most concentrated in Ukraine lies along the eastern front. Zelensky also told Reuters, "Russia occupies about half of Ukraine's rare earth deposits."
Wolf Christian Phase, a senior researcher in armed conflict at the International Institute for Strategic Studies, told The Wall Street Journal (WSJ), "Most of Ukraine's natural resources are under Russian control or very close to the front lines," meaning "no one can mine or process them." The WSJ added, "Access to Ukraine's natural resources partly depends on the battles occurring in eastern Ukraine, where Russian forces are currently advancing slowly but steadily."
Meanwhile, Trump revealed in an interview with the New York Post released on the 8th that he had discussed ceasefire options with Russian President Vladimir Putin during their first call since taking office. Trump said, "I spoke with Putin," and noted, "I have a specific plan to end the war. Putin also wants to see people stop dying." Prior to this, Bloomberg reported on the 5th that the U.S. had established a ceasefire proposal recognizing Russia's continued control over occupied Ukrainian territory while offering security guarantees to Ukraine.