The White House and Ukraine struck a deal on strategic resources, a pact that speaks volumes about President Trump’s geopolitical strategy.
“They have very good rare earth”
Ukraine has finally struck a deal to share revenue from mineral sources with the United States, following weeks of sometimes tense negotiations punctuated by insults and threats by President Trump.
What Trump proclaimed as a “very big deal” is indeed noteworthy — both in terms of how his administration is looking to profit from supporting Ukraine and how he is increasingly focusing on strategic nonpetroleum resources as a geopolitical goal.
What we know so far: Ukraine would contribute 50 percent of proceeds from the “future monetization” of mineral sales to a fund in which the United States would own a big — but as yet undetermined — stake. The joint venture would reinvest at least some of its revenue to rebuilding Ukraine.
It doesn’t contain any security guarantees from Washington, something that President Volodymyr Zelensky of Ukraine had sought. But it also doesn’t contain earlier Trump demands including that Kyiv contribute $500 billion or repay double any future aid from the United States.
Trump has been fixated on snapping up minerals. He doesn’t just want Ukraine’s resources, which include lithium, titanium and uranium. He’s also interested in getting access to Russia’s geographical wealth, including so-called rare earth elements like neodymium and promethium. (He appears to mistakenly believe that Ukraine has big stores of rare earth minerals as well.)
“I’d like to buy minerals on Russian land too if we can,” Trump said on Tuesday. “They have very good rare earth.”