Ukrainian President Volodymyr Zelensky has rejected President Trump’s demand for half of Ukraine’s rare earth minerals, saying the proposal appears to only be considered compensation for US aid so far.
The $500 billion demand, which was a key part of Zelensky’s meeting with Vice President JD Vance on Friday, did not offer any specific security guarantees for Ukraine down the line, suggesting the minerals were meant as in exchange for America’s support to date — with no promise for the future, according to Ukrainian officials familiar with the talks.
“I didn’t let the ministers sign a relevant agreement because in my view it is not ready to protect us, our interest,” Zelensky told The Associated Press over the weekend.
“For me, it’s very important, the connection between some kind of security guarantees and some kind of investment,” he said.
White House National Security Council spokesman Brian Hughes slammed Zelensky’s decision as “short-sighted” for failing to agree to the “excellent opportunity the Trump administration has presented to Ukraine.”
“Binding economic ties with the United States will be the best guarantee against future aggression and an integral part of lasting peace,” Hughes said.
“The US recognizes this, the Russians recognize this, and the Ukrainians must recognize this.”
Ukraine’s rejection comes just a week after Trump touted that Kyiv had “essentially agreed” to give the US $500 billion worth of rare earth minerals as a payment for the aid Washington has provided.
Ukraine is home to roughly 5% of the world’s mineral resources, with rich deposits of titanium, uranium, iron, manganese and lithium — as well as rare earth minerals that are considered vital to US national security.
Ukraine holds about 7% of the world’s supply of titanium — the largest reserves of any European country — which is needed for the production of everything from aerospace and defense materials to medicine and jewelry.
Along with worries over America’s commitment to aiding Ukraine, Kyiv is reportedly concerned on how the US would help secure its rich mineral deposits amid Russia’s invasion.
The US proposal presented before Ukraine apparently included no details on that front, with Trump’s team allegedly not prepared to answer those questions.
Officials said Kyiv is currently preparing its own “counter-proposal” for the mineral deal to be presented to the US in “the near future.”
Zelensky had first broached such a deal in his Victory Plan presented to the US last year, agreeing to open up the country’s natural resources in exchange for continued American backing against Russia.
“I think it’s important that the vice president understood that if we want to sign something, we have to understand that it will work,” the Ukrainian president said of his talks with Vance.
With Post Wires
