Russian President Vladimir Putin has expressed willingness to grant the US access to Russia’s rare minerals, including those from Russian-occupied Ukraine. This move comes amidst growing pressure from the Trump administration on Ukraine to sign a deal allowing US access to its mineral deposits ¹.
In a televised interview on Russian state-owned broadcaster Rossiya 1, Putin stated that Russia is ready to collaborate with foreign partners, including companies, on mining minerals. He also proposed potential cooperation with the US on aluminium extraction and supply to stabilize prices.
Ukraine’s deputy prime minister, Olga Stefanishyna, revealed that negotiations on the US-Ukraine deal have been constructive, with nearly all key details finalized. However, Putin remains unfazed, claiming that Russia has significantly more resources than Ukraine.
The European Union has also proposed a partnership with Ukraine, offering a “win-win” deal for access to minerals. Kyiv estimates that Ukraine holds around 5% of the world’s critical raw materials, although some deposits have been seized by Russia since its invasion.
Putin’s proposal has been met with optimism by Kremlin spokesman Dmitry Peskov, who believes it opens up “quite broad prospects” for cooperation. With the US in need of rare earth minerals and Russia having an abundance, this potential partnership could be mutually beneficial ².
