WASHINGTON (Dispatches) -- U.S. President Donald Trump said he wants Ukraine to supply the United States with rare earth minerals as a form of payment for financially supporting the country’s war efforts against Russia.
Trump, speaking to reporters at the White House, said Ukraine was willing, adding that he wants “equalization” from Ukraine for Washington’s “close to $300 billion” in support.
“We’re telling Ukraine they have very valuable rare earths,” Trump said. “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.”
It was not immediately clear if Trump was using the term “rare earths” to refer to all types of critical minerals or just to rare earths.
“Rare earths” refers to a group of 17 elements prized for their unique magnetic and electrochemical properties. They are used in many modern products, from smartphones to electric vehicle batteries to cancer treatment drugs.
China is by far the world’s largest producer of rare earths, accounting for about 70% of global production. The elements have been designated as critical by the U.S. Geological Survey for sectors including national defense, and Washington has sought to reduce its reliance on Beijing.
Ukraine contains large deposits of uranium, lithium and titanium, although none are considered to be among the world’s five biggest by volume and the U.S. has its own untapped reserves of those and other critical minerals.
The U.S. president was immediately accused of exploiting the Ukraine war for material gain, with the German chancellor, Olaf Scholz, saying “it would be very selfish, very self-centered”. Germany is Ukraine’s second-largest military donor after the U.S.
Such resources would be better used for Ukraine’s reconstruction after the war, Scholz said, speaking after a meeting of EU leaders in Brussels.
The Kyiv Independent cited a source in Ukraine’s presidential office as saying that a deal over the country’s resources with allies was in fact part of Zelensky’s “victory plan”, which includes a mix of economic and security incentives and demands of western allies.
Moscow said on Tuesday that Trump’s desire for rare earth metals was a clear offer to Ukraine to buy U.S. assistance.
“It would be better of course for the assistance to not be provided at all, as that would contribute to the end of this conflict,” said the Kremlin’s spokesperson, Dmitry Peskov.