Precisely three years after Russia initiated its full-scale invasion and amid pressure from President Trump, a high-ranking Ukrainian official announced that negotiations for an agreement granting Washington access to Ukraine’s extensive mineral reserves are “in the final stages.”
Ukrainian leaders are optimistic that such a pact could form the basis for a long-term security commitment to protect the nation against potential Russian aggression in the future. However, the Trump administration has been hesitant, framing the access to these resources as a means for Ukraine to reimburse the U.S. for its support over the previous three years.
“The negotiations have been highly constructive, with nearly all essential details finalized,” stated Olga Stefanishka, Ukraine’s Vice President for European and Euro-Atlantic integration, in a Monday social media post in English. “We are dedicated to concluding this promptly so that we can proceed with its signing. We hope that both U.S. and Ukrainian leaders will sign and support it in Washington soon to demonstrate our commitment for decades to come.”
Frequently referred to as Europe’s “breadbasket” due to its substantial agricultural sector, Ukraine is also among the continent’s most resource-abundant nations. However, a significant portion of Ukraine’s mineral resources remains unutilized, hindered by challenging access, outdated infrastructure, and insufficient investment—all further complicated by Russia’s ongoing military campaign, which began in 2014 with their invasion and annexation of the Crimean Peninsula.
Approximately 20% of Ukrainian territory—a large portion of the eastern Donbas region plus Crimea—is currently under Russian control. This occupied zone contains a considerable share of Ukraine’s mineral reserves, including highly prized rare earth elements essential for defense, aerospace, technology, and energy production.
Experts estimate that the ground beneath Ukraine holds about 5% of the world’s total rare earth reserves, whereas the U.S., which has a land area roughly 12 times larger, is thought to possess only 1-2% of these critical materials.
According to the Institute for the Study of War, nearly half of Ukraine’s rare earth element reserves are situated in territories currently occupied by Russia.
Ukraine also boasts one of Europe’s largest titanium reserves. This strong, lightweight metal is crucial for modern aircraft, missiles, and a multitude of civilian and military devices—from satellites to bicycles. The reserves are primarily located in Ukraine’s northwest and central regions, which remain firmly under Kyiv’s control.
Lithium deposits can be found scattered across Ukraine’s central, eastern, and southeastern regions, the latter of which are mostly under Russian control. Lithium is integral in the rechargeable batteries found in everything from electric vehicles to laptops and smartphones.
Furthermore, Ukraine holds approximately 20% of the world’s total graphite reserves, a substance commonly used in pencils but also essential in industrial lubricants for engines and other machinery.
“We need to reach an agreement with Ukraine regarding critical minerals and rare earths, along with various other necessities for security. I believe this is occurring, and significant progress has been made,” Mr. Trump stated during a joint news conference at the White House with French President Emmanuel Macron on Monday.
“I believe this discussion regarding a potential mineral deal is quite significant,” Macron stated. “Firstly, it’s crucial for the U.S. and will provide a good opportunity for a very important initial meeting between President Trump and President Zelenskyy. Secondly, there’s substantial economic potential for both parties.”
Mr. Trump has framed U.S. access to Ukraine’s minerals as a method for Ukraine to repay Washington for the military aid rendered over the last three years.
Currently, U.S. industry heavily depends on China, the world’s primary provider of rare earths and other minerals, for its raw materials. An increased supply from Ukraine could ultimately reduce reliance on Chinese minerals, alleviating some national security concerns.
While specific details of the emerging deal remain undisclosed, Zelenskyy previously refused to endorse an agreement that would purportedly permit U.S. access to approximately $500 billion worth of Ukraine’s mineral wealth—around half of its projected future value.
“I won’t sign any document that would burden ten generations of Ukrainians,” Zelenskyy stated over the weekend. He emphasized that any accord providing U.S. access to Ukraine’s minerals must accompany security assurances—including the potential deployment of American forces to safeguard U.S. investments.
Andrii Yermak, Zelenskyy’s chief of staff, mentioned on Monday that Kyiv is exploring investment opportunities with both the U.S. and European nations, “which includes minerals, their development and extraction,” describing the country’s natural resources as “a critical element that can contribute to the overall framework of security guarantees—military guarantees and more.”
Mr. Trump claimed that the U.S. has extended $350 billion in assistance to Ukraine since the war’s onset three years ago, making it clear he expects to recoup that amount.
However, Ukraine Oversight, an interagency U.S. oversight body, asserts that the actual figure is closer to $183 billion, with about one-third of that amount spent domestically in the U.S. for manufacturing ammunition and other equipment for use by Ukraine.
Mr. Trump has indicated that he might meet with Zelenskyy at the White House either this week or next to finalize a minerals agreement.
