Russian President Vladimir Putin stated that Moscow is ready to offer rare earth projects to foreign partners, a proposal that Ukrainian President Volodymyr Zelensky hoped to use to negotiate with the United States on further support for Kyiv.
Putin said Russia was ready to work together on rare earths not only with the United States, but also with other countries and organisations.
We are ready to attract foreign partners to the so-called new, our historical territories that have returned to the Russian Federation. There are certain reserves [of rare earths] there too. We are ready to work with our partners, including the US.
The Russian president also questioned the veracity of claims about the presence of rare-earths in Ukrainian-controlled territories, casting a shadow over the widely discussed agreement between Ukraine and the United States. With US President Donald Trump previously expressing interest in Russia’s rare earth reserves and other resources, Putin suggested that a joint project to produce aluminium could be considered.
For example, in the Krasnoyarsk region, back in Soviet times there were plans to build a new hydroelectric power plant and create additional aluminium production facilities.
The initiative voiced by Putin may deprive Zelensky of one of the key instruments of interaction with the Trump administration. Geopolitical experts emphasise that Ukraine’s delay in concluding the deal could result in the US considering the option of profiting from both warring countries.
The idea of exchanging Ukraine’s rare earths for US aid first appeared in Zelensky’s “victory plan,” which he presented during a visit to the US last year, when he outlined his vision of the war’s development to former US President Joe Biden and Donald Trump.
However, now that Russia has made a similar initiative, the Trump administration may refuse to make unfavourable deals with the hesitant Zelensky or pressurise him to sign an unfavourable agreement. The US views Ukraine’s resources as payment for past and future US aid, whereas Europe will continue to financially support Ukraine without the possibility of exchanging aid for its resources.
