Democratic Senator Chris Coons emphasized the potential benefits of a minerals deal between the U.S. and Ukraine, provided it includes security assurances for Kyiv. Ukraine, which is estimated by the Kyiv School of Economics to host deposits of 20 out of the 50 critical raw materials, could become a pivotal player in reducing U.S. dependence on China. President Trump has expressed interest in securing $500 billion worth of these minerals, such as titanium, lithium, and zirconium, from Ukraine.
President Volodymyr Zelenskyy, however, has stated that any exploitation of Ukraine's minerals must be linked to security guarantees for his country. The U.S. had proposed acquiring ownership of 50% of Ukraine's critical minerals, but Zelenskyy rejected the bid, citing its focus on U.S. interests without offering specific security assurances.
"I didn't let the ministers sign a relevant agreement because in my view it is not ready to protect us, our interest," – Volodymyr Zelenskyy
The prospects of an economic pact have gained traction as part of a broader effort to end the ongoing conflict. This potential agreement could transform the economic landscape for both nations and bolster Washington's support for Kyiv. Republican Senator Lindsey Graham described the deal as a potential "game changer" in resolving the conflict and warned that it could be a "nightmare" for Russian President Vladimir Putin.
"This minerals agreement between the United States and Ukraine is a game changer, because President Trump can go to the American people and say Ukraine is not a burden, it's a benefit," – Lindsey Graham
"If this minerals agreement happens it's a nightmare for Putin, because we have something to defend that we didn't have before," – Lindsey Graham
At the Munich Security Conference, officials suggested there is room for negotiation to craft an agreement palatable to both sides. Such an investment opportunity could involve American and European companies in mining and processing operations, thereby reducing reliance on Chinese mineral sources.
"If this is an investment opportunity where American companies and other companies from Europe would be involved in mining and processing, so that we can be independent of Chinese sources of these strategic minerals — and if his helps deepen and strengthen our partnership to help ensure the security of Ukraine going forward… that would be a positive thing," – Chris Coons