Former President Donald Trump announced Monday that he is demanding Ukraine provide the United States with access to its vast reserves of rare earth minerals in exchange for continued military and financial assistance.
“We’re telling Ukraine, they have very valuable rare Earth. We want what we put up to go in terms of a guarantee. We want a guarantee,” Trump told reporters from the Oval Office.
Trump emphasized that the U.S. has been providing billions of dollars in aid and military equipment, while European allies have not contributed at the same level.
“We’re handing them money hand over fist. We’re giving them equipment. The European Union is not keeping up with us. They should equalize,” Trump said. “Look, we have an ocean in between. They don’t. It’s more important for them than it is for us. But they’re way below us in terms of money, and they should be paying at least equal. They should really be paying much more than us, but let’s say equal to us. And they’re billions and billions of dollars below. So 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’s proposal represents a major departure from the Biden administration’s approach, which has allocated nearly $200 billion in military and economic aid to Ukraine since Russia’s 2022 invasion. Trump has made it clear that under his leadership, U.S. support for Ukraine will no longer come without conditions.
As of September 30, 2024, U.S. funding for Ukraine had reached approximately $183 billion, with $130.1 billion committed and $86.7 billion already distributed, according to Ukraine Oversight.
Ukraine is home to significant reserves of critical minerals essential for high-tech industries, including aerospace, defense, electronics, and renewable energy. According to the World Economic Forum, these minerals include titanium, lithium, beryllium, manganese, gallium, uranium, zirconium, graphite, apatite, fluorite, and nickel.
Lithium, in particular, has become one of the most sought-after resources in the modern economy due to its use in batteries for electric vehicles, mobile devices, and renewable energy storage. Ukraine’s estimated lithium reserves stand at around 500,000 tons, making the country a valuable player in the global supply chain.
Russian forces have already seized key mining regions in Eastern Ukraine, including much of the coal-rich Donbas. However, vast supplies of strategic minerals remain under Ukrainian control in the Dnieper River basin and the Carpathian Mountains.
With China currently dominating the rare earth minerals supply chain, Trump’s proposal seeks to reposition the United States as a key beneficiary of Ukraine’s resources. Reports indicate that Ukrainian President Volodymyr Zelensky had previously considered leveraging his country’s mineral wealth to maintain U.S. military support.
A joint statement from Senators Lindsey Graham (R-SC) and Richard Blumenthal (D-Conn.) last year confirmed that Zelensky was “excited” about working toward a strategic agreement regarding Ukraine’s mineral reserves, which are estimated to be worth trillions of dollars.
Trump’s demand for mineral rights in exchange for aid marks a shift in U.S.-Ukraine relations, signaling a more transactional approach to foreign assistance under his leadership. Whether Ukraine will agree to these terms remains to be seen.