By President Of Ukraine from Україна -
As President Volodymyr Zelenskiy looks to negotiate a better agreement, Ukraine has rejected the US offer to hold 50% of the nation’s rare earth minerals, according to the Financial Times.
According to NBC’s earlier report, which cited eight unnamed US sources, US Treasury Secretary Scott Bessent brought a draft contract to Zelenskiy’s meeting on Wednesday. According to the US outlet, Zelenskiy refused to sign the agreement, stating that he needed to review it and speak with others about it.
According to the FT, which cited three unnamed persons familiar with the talks, Zelenskiy wants any agreement on the mineral assets to be explicitly linked to security guarantees from the US and Europe. According to a top Ukrainian official who spoke to the publication, Kyiv is looking for a “better deal.”
NBC reached out to the Ukrainian Embassy in Washington and a White House National Security Council representative on Friday, but neither responded.
In exchange for its military and economic assistance against Russia, which invaded in 2022, the Trump administration has indicated that it expects Kyiv to provide access to its natural resources, especially vital minerals, and promise to buy US energy exports.
Rare earths are rather prevalent worldwide, like many important minerals, but they are rarely found in quantities that make their extraction and refinement profitable. According to data from the US Geological Survey, the countries with the greatest reserves outside of China include Brazil, India, Australia, Russia, Vietnam, and the United States itself.
Although Ukraine’s own geological agency has reported that rare earth elements have been discovered in a few mineral deposits, mostly in regions in the east of the nation that are partially under Russian control, USGS data indicates that Ukraine does not currently have any significant recognized rare earth reserves. Additionally, it has discovered deposits of graphite, lithium, titanium, and a number of other vital minerals.
