Zelensky rebuffs Trump's bid for Ukraine's rare earth wealth
The administration of President Donald Trump proposed that Ukraine transfer control of half of its rare earth metal deposits to the United States. In exchange, American soldiers would provide protection for these resources, NBC News reports, citing sources within the Trump administration.
According to NBC News, American soldiers would be deployed in Ukraine after a peace agreement is reached between Kyiv and Moscow. This agreement is intended as a way of repaying the billions of dollars the U.S. provided to Ukraine following the Russian invasion in 2022.
The draft agreement was presented to Ukrainian President Volodymyr Zelensky by U.S. Treasury Secretary Scott Bessent. However, Zelensky refused to sign the document, stating that he needs time to study it and consult with his advisors.
Trump interested in resources
President Trump has long expressed interest in gaining access to Ukrainian resources. In an interview with Fox News, he stated that the United States should receive rare earth metals worth $500 billion. He also indicated that Kyiv "essentially agreed" to it.
- We’re telling Ukraine they have very valuable rare earths. 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, said Trump.
NBC's sources noted that many of Ukraine’s deposits are located in areas currently controlled by Russian forces. This further complicates the situation and puts into question the possibility of executing such an agreement.
