The Trump administration has proposed that the United States receive 50% ownership of Ukraine’s rare earth minerals as reimbursement for the billions of dollars in military aid and support provided to Kyiv since Russia’s invasion in February 2022.
The proposal was presented to Ukrainian President Volodymyr Zelenskyy during a meeting in Kyiv this week and also hinted at a potential deployment of American troops to Ukraine to secure the minerals if a peace agreement with Russia is reached.
The plan, outlined in a draft contract presented by U.S. Treasury Secretary Scott Bessent, highlights the Trump administration’s strategic interest in Ukraine’s rare earth mineral reserves, which are essential for producing advanced technology, including smartphones, electric vehicles, and military equipment.
According to four U.S. officials familiar with the proposal, the ownership agreement would not involve direct payment but would serve as compensation for the extensive support the U.S. has provided during the war.
During the meeting, Zelenskyy declined to sign the draft document, stating that he needed time to review the proposal and consult with his advisors. “We will do everything to review all details of the document,” Zelenskyy said, according to eight U.S. officials briefed on the meeting. He reiterated this position during his appearance at the Munich Security Conference, where he met with Vice President JD Vance, Secretary of State Marco Rubio, and several U.S. lawmakers.
At the conference, Zelenskyy referred to the proposal as a “memorandum” rather than a formal security agreement. He emphasized that his legal team would review the document and propose potential revisions before any decisions are made.
President Donald Trump has repeatedly stressed the importance of securing access to Ukraine’s rare earth minerals, considering it a matter of national security. In a recent Fox News interview, Trump claimed Ukraine had “essentially agreed” to grant the U.S. $500 billion worth of its rare earth minerals. He reiterated this stance during an Oval Office press briefing, stating, “I want to have the security of rare earth. We’re putting in hundreds of billions of dollars. They have great rare earth, and I want security of the rare earth, and they’re willing to do it.”
However, the proposal faces major logistical and geopolitical hurdles. Many of Ukraine’s rare earth mineral deposits are in areas currently occupied by Russian forces, making extraction efforts complicated. Three U.S. officials noted that securing these resources would require both a peace agreement with Russia and a strong security presence to protect mining operations.
Ukrainian officials have suggested that Zelenskyy has long supported the idea of exchanging critical resources for continued U.S. support. This concept is reportedly part of the “Victory Plan” Zelenskyy presented to Trump last fall, outlining Ukraine’s long-term strategy for security and economic stability, with rare earth minerals playing a key role in strengthening ties with the U.S.
