The Trump administration has proposed that the United States be granted 50% ownership of Ukraine’s rare earth minerals as a form of reimbursement for the billions of dollars in military aid and support provided to Kyiv since Russia’s invasion in February 2022.
The proposal, which was presented to Ukrainian President Volodymyr Zelenskyy during a meeting in Kyiv this week, also signaled a potential willingness to deploy American troops to Ukraine to secure the minerals if a peace deal with Russia is reached.
READ: Zelenskyy Open To Deal With Trump To End Ukraine-Russia War, Offers Up Rare Earth Minerals
The plan, outlined in a draft contract presented by U.S. Treasury Secretary Scott Bessent, underscores the Trump administration’s strategic interest in securing access to Ukraine’s vast reserves of rare earth minerals, which are critical for manufacturing advanced technology, including smartphones, electric vehicles, and military equipment.
According to four U.S. officials familiar with the proposal, the ownership agreement would not involve direct payment but would instead serve as compensation for the extensive support the U.S. has provided to Ukraine during the war.
During the meeting in Kyiv, Zelenskyy declined to sign the draft document, stating that he needed time to study the proposal and consult with his advisors.
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“We will do everything to review all details of the document,” Zelenskyy said, according to eight U.S. officials briefed on the meeting. The Ukrainian president reiterated this stance during his appearance at the Munich Security Conference on Friday, where he met with Vice President JD Vance, Secretary of State Marco Rubio, and several U.S. lawmakers.
In his speech at the conference, Zelenskyy referred to the proposal as a “memorandum” between the U.S. and Ukraine, rather than a formal security agreement. He emphasized that his legal team would review the document and suggest potential changes before any decisions are made.
President Donald Trump has repeatedly expressed interest in securing access to Ukraine’s rare earth minerals, which he views as a matter of national security. In a recent interview with Fox News, Trump claimed that Ukraine had “essentially agreed” to grant the U.S. $500 billion worth of its rare earth minerals. He reiterated this position during a press briefing in the Oval Office earlier this month, stating, “I want to have the security of rare earth. We’re putting in hundreds of billions of dollars. They have great rare earth, and I want security of the rare earth, and they’re willing to do it.”
READ: President Trump Seeks Immediate Meeting With Putin As Zelenskyy Signals Readiness For Peace Deal
However, the proposal faces significant logistical and geopolitical challenges. Much of Ukraine’s rare earth mineral deposits are located in regions currently occupied by Russian forces, complicating any potential extraction efforts. Three U.S. officials noted that securing these resources would require not only a peace deal with Russia but also a robust security presence to protect the mining operations.
Ukrainian officials have indicated that Zelenskyy has long supported the idea of exchanging critical resources for continued U.S. support.
This concept is reportedly part of the “Victory Plan” that Zelenskyy presented to Trump during a meeting last fall. The plan outlines Ukraine’s strategy for achieving long-term security and economic stability, with rare earth minerals playing a key role in fostering stronger ties with the U.S.
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