Ukraine proposes critical minerals deal to US, seeks security guarantees

Ukrainian President Volodymyr Zelenskyy, in an exclusive interview with Reuters on February 7, laid out a proposal aimed at appealing to former US President Donald Trump’s well-known affinity for deal-making. 

While poring over a once-classified map of Ukraine’s vast deposits of rare earths and critical minerals, Zelenskyy made a direct offer saying "if we are talking about a deal, then let’s do a deal, we are only for it", Caliber.Az reports.

His remarks came in response to Trump’s statement earlier this week that Ukraine should supply the US with rare earths and other essential minerals in return for continued financial support in its war against Russia. However, Zelenskyy emphasized that any deal must also include security guarantees for Ukraine, ensuring the country’s long-term stability.

The idea of opening Ukraine’s critical minerals sector to investment from allies was first floated last autumn as part of Kyiv’s broader “victory plan.” The strategy aimed to position Ukraine favourably for negotiations and pressure Moscow into peace talks.

During the interview, Zelenskyy spread out a detailed map in his fortified presidential office in Kyiv, illustrating Ukraine’s mineral wealth. He pointed to a broad strip of land in the east marked as containing rare earths, noting that “less than 20% of Ukraine’s mineral resources, including about half its rare earth deposits, are under Russian occupation.”

Rare earth elements are crucial for high-performance magnets, electric motors, and consumer electronics. Zelenskyy warned of the consequences if Ukraine’s resources fell further into Russian hands:

“We need to stop Putin and protect what we have — a very rich Dnipro region, central Ukraine.”

He further cautioned that Moscow could exploit Ukraine’s mineral wealth to benefit its allies: “Russia could open those resources to North Korea and Iran,” both of whom are adversaries of the United States.

Zelenskyy also underscored Ukraine’s vast reserves of titanium, essential for the aviation and space industry, and uranium, used for nuclear energy and weapons. Many of these deposits, he noted, are located in northwestern Ukraine, far from the active combat zones.

Aligning with the Trump administration’s transactional approach to foreign policy, Ukraine has shifted its diplomatic messaging to emphasize economic partnerships. However, Zelenskyy made it clear that Ukraine was not offering a giveaway of its resources:

“The Americans helped the most, and therefore the Americans should earn the most. And they should have this priority, and they will. I would also like to talk about this with President Trump.”

He added that Russia has detailed knowledge of Ukraine’s critical resources from Soviet-era geological surveys, which were taken to Moscow when Ukraine gained independence in 1991.

Beyond rare earths, Zelenskyy revealed that Kyiv and Washington were discussing the use of Ukraine’s vast underground gas storage sites to store US liquefied natural gas (LNG).

“I know that the Trump administration is very interested in it ... We’re ready and willing to have contracts for LNG supplies to Ukraine. And of course, we will be a hub for the whole of Europe.”

With Russian forces continuing their offensive in eastern Ukraine and Kyiv facing mounting concerns over future Western military aid, Zelenskyy’s proposal signals a strategic effort to secure both economic and security commitments from Washington in an increasingly uncertain geopolitical landscape.

By Tamilla Hasanova