Ukraine Postpones Rare Earth Minerals Deal with US
The Ukrainian government has delayed signing a deal with the United States on extracting and processing rare earth minerals. This was done to give U.S. President-elect Donald Trump a chance to claim credit for the agreement when he takes office.
Trump is set to begin his second term as president on January 20, 2025. He has promised to end Russia’s war against Ukraine quickly. But some in Kyiv are worried that Washington will stop sending military aid once Trump returns to the White House.
To secure Trump’s support before his inauguration, Ukrainian officials appealed to his ego and reputation as a businessman. One way they did this was by delaying the minerals deal. Ukraine has large deposits of critical minerals like cobalt, graphite, and lithium.
The delay in signing the agreement came after U.S. Senators Lindsey Graham and Richard Blumenthal announced plans for the deal in August 2024. Ukrainian authorities then twice delayed signing the agreement, giving Trump’s administration a chance to claim an early victory when he takes office.
“This war is about money,” Senator Graham told Fox News in November. He said that Trump would make a good deal on rare earth minerals and bring peace to Ukraine.
Trump has criticized the level of support the Biden administration provided to Ukraine. He signaled that Kyiv should be prepared for reduced assistance once his term begins. However, he also said that he wouldn’t “abandon” Ukraine.
Ukrainian President Volodymyr Zelensky met with Trump recently and praised him, saying that Russian President Vladimir Putin feared only Trump and perhaps China. Trump responded by saying that Zelensky seemed ready to make a deal and stop the conflict in Ukraine.
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