Putin Proposes Rare Russian and Ukrainian Minerals to the US

Russian President Vladimir Putin has expressed willingness to grant the US access to rare minerals, including those from Ukrainian territories under Russian control.

This comes after US President Donald Trump has persistently advocated for Ukraine to relinquish some of its mineral resources in exchange for support, with a deal currently under negotiation, according to a Ukrainian official.

In an interview on state TV Monday, Putin stated he was prepared to "offer" resources to American partners for joint projects, including mining in Russia’s "new territories" — referring to the regions in eastern Ukraine that Russia has occupied since its invasion three years ago.

The proposal could also involve cooperation on aluminium extraction and supply to the US to help stabilise market prices, Putin added.

In his televised interview, Putin responded to Trump's push for access to Ukraine's mineral resources, stating that Russia was prepared to collaborate with "foreign partners," including companies, on mineral mining.

He added that a potential US-Ukraine agreement on rare minerals was not a concern, emphasizing that Russia "undoubtedly possesses, I want to stress, far more of these resources than Ukraine."

"As for the new territories, it's the same. We are ready to attract foreign partners to the so-called new, to our historical territories, which have returned to the Russian Federation," he added.

He also suggested that Russia and the US could collaborate on aluminium production in Krasnoyarsk, Siberia, where Rusal, a major Russian aluminium producer, operates its largest smelters.

These comments were made after a cabinet meeting discussing Russia's natural resources.

On Tuesday, Kremlin spokesperson Dmitry Peskov told reporters that the proposal offered "significant opportunities," noting that while the US needs rare earth minerals, Russia has "plenty of them."

Putin's offer to grant the US access to minerals is striking, considering the Kremlin's historical emphasis on keeping Russia's natural wealth under its own control. In 2023, Putin accused the West, particularly the US, of attempting to "dismember" Russia in order to seize its natural resources.

Putin's statement comes as Ukraine faces increasing pressure from the Trump administration to strike a deal granting access to its mineral reserves.

Kyiv estimates that around 5% of the world's critical raw materials are located in Ukraine. However, some of these mineral deposits have already been seized by Russia since its invasion three years ago.

Earlier this month, Trump stated that US military and economic aid to Ukraine has reached approximately $500 billion, and he is seeking access to Ukrainian minerals of equivalent value.

President Zelensky has challenged that figure and is reportedly insisting that any deal include security guarantees.

On Monday, Ukraine's Deputy Prime Minister for European and Euro-Atlantic integration, Olga Stefanishyna, mentioned that negotiations on such a deal "have been very constructive, with nearly all key details finalized."

In a similar vein, but with a different approach, the European Union has also proposed a partnership with Ukraine, offering access to its mineral resources. Stephane Sejourne, the European Commissioner for industrial strategy, referred to it as a "win-win" scenario.