US President wants Ukraine to exchange rare earths for military aid

(CLO) US President Donald Trump announced that he wants Ukraine to cede mineral exploitation rights, especially rare earths, in exchange for future military aid.

Speaking in the Oval Office, Mr. Trump emphasized that the US has invested hundreds of billions of dollars and wants to ensure the security of rare earth supplies from Ukraine.

Mr. Trump did not provide details of his request, but the United States has previously promoted mining cooperation with Ukraine. The administration of former President Joe Biden signed a memorandum of understanding with Kiev to expand investment opportunities in resource extraction, in return for Ukraine pledging to create favorable economic and environmental incentives for American businesses. A similar agreement was signed by Ukraine with the EU in 2021.

A dump truck transports iron ore from a mining site near Horishni Plavni, Ukraine in July 2019. Photo: GI

Mr Trump’s stance reflects a different approach to the Ukraine war than his predecessor. Under President Biden, the US has provided $65.9 billion in aid to Ukraine since the conflict began in February 2022, arguing that Kiev’s victory is vital to US security.

In contrast, Mr. Trump demanded concessions from Ukraine to receive support from Washington.

Ukraine has significant reserves of 22 of the 50 minerals critical to the United States, including graphite, lithium, titanium, beryllium and uranium. Some of the mines are located in areas controlled by Russia, giving Western allies an added incentive to support Ukraine to prevent these resources from falling into Moscow’s hands.

Ukrainian President Volodymyr Zelenskyy has stressed the importance of Western investment in resource extraction as part of his “Victory Plan”.

Experts say that if the US invests in this area, both Washington and Kiev will benefit: Ukraine will boost economic recovery, and the US will reduce its dependence on supply chains from China.

China now accounts for 90% of global rare earth processing capacity and is the leading producer of graphite, titanium and lithium – materials vital to electric vehicles, renewable energy and military technology.

Mr. Trump's move comes as Washington seeks to reduce its dependence on Beijing, especially as trade tensions between the two powers escalate.

Ngoc Anh (according to CNN, Reuters)

Source: https://www.congluan.vn/tong-thong-my-muon-ukraine-doi-dat-hiem-lay-vien-tro-quan-su-post333080.html