Minerals in exchange for support: what’s behind the upcoming Ukraine-US deal (video)
12 February 20:37
The United States of America has handed over a draft partnership agreement on natural resources to Ukraine. This statement was made by President of Ukraine Volodymyr Zelenskyyon February 12 during a meeting with U.S. Treasury Secretary Scott Bessent, "Komersant Ukrainian" reports citing Radio Liberty.
The head of state noted that he plans to study the document in detail and consolidate the agreements reached at the upcoming Munich Security Conference.
“For my part, I will do everything to ensure that our team of government officials works hard over the next two days so that we have the opportunity to finalize specific agreements in Munich,” the President of Ukraine said.
As a reminder, according to information provided by El País, US President Donald Trump has expressed a desire to gain access to Ukrainian rare earths in exchange for continued military support for Kyiv. Zelenskyy, for his part, is ready to take such a step, offering cooperation in the development of these resources.
Earlier, in 2024, Volodymyr Zelenskyy presented a “victory plan” in Washington, which included measures to strengthen defense and proposals for allies, including Trump. As part of this plan, the possibility of transferring rare earth elements to the United States in exchange for military assistance was discussed.
US Treasury Secretary Scott Bessent’s visit to Kyiv on February 12, 2025, was an important step in the development of bilateral cooperation. Bessent held talks with Ukrainian officials to discuss US access to Ukrainian rare earth minerals and energy resources. The goal of these talks is not only to provide the US with the necessary resources, but also to help end the war between Russia and Ukraine.
Under the proposed agreement, Ukraine expects to attract investments to modernize its mining industry and increase production of high-purity graphite and other minerals. For example, the Zavalivsky Graphite Plant is looking for funding to upgrade equipment and increase production to meet international standards and meet the growing demand for graphite.
However, the implementation of such projects requires significant investment and time. Experts estimate that it may take five to seven years to launch new projects for the extraction and processing of critical minerals. Despite these difficulties, the Ukrainian side hopes that cooperation with the United States will speed up the process and bring mutual benefits.
Critics point out that such agreements could lead to Ukraine’s dependence on the United States and cause dissatisfaction among other allies, such as Germany, which has already expressed concern about the US’s possible “selfish” approach to the use of Ukrainian resources.
At the same time, supporters of the partnership point to potential economic benefits for Ukraine, including job creation, infrastructure development, and increased export revenues. In addition, cooperation with the United States could strengthen Ukraine’s position in the international arena and facilitate its integration into global economic processes.
The details of the agreement are expected to be discussed and possibly signed at the Munich Security Conference to be held later this week in Germany. The Ukrainian side hopes that the partnership with the United States in the field of natural resources will be an important step towards economic development and strengthening national security.
It should be noted that Ukraine has significant reserves of critical minerals, including lithium, graphite, and rare earth elements, which are key components in the production of modern technologies, such as batteries for electric vehicles and various electronic devices. However, due to hostilities on its territory and a lack of investment, the extraction of these resources remains low.
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