The Trump administration is seeking new terms for the United States to access the critical minerals and energy assets in Ukraine, broadening its economic demands on Kyiv as it pushes for a peace deal with Russia, as per the Financial Times report citing two Ukrainian officials.
The reported change comes as US President Donald Trump has confirmed that the US is preparing to sign a rare earth mineral deal with Ukraine ‘’very shortly’’. While addressing a press conference in Washington, Trump mentioned that the initiative is part of a broader effort to secure strategic resources and to promote peace in Eastern Europe.
Trump signs executive order on mineral production
During the same press meeting, Trump also announced that he had signed an executive order to boost domestic production of critical minerals, including rare earth elements that are crucial for defense, renewable energy sectors, and electronics. ‘’Moments ago, I signed an order to increase production of critical minerals and rare earths,’’ Trump stated, adding, ‘’We are also finalising deals in several regions, particularly Ukraine, which has immense value in this area.
While China rules the global rare earth supply chain, the US and its allies have been trying to diversify sources and lessen the dependence on Chinese refining. Ukraine is rich in untapped mineral reserves and has been viewed as a major partner in that planning.
Hopes for ceasefire amid economic cooperation
Trump has also stated that he has recently talked to both Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskky. He expressed hope that a resolution to the ongoing conflict is close. ‘’We would love to see the war come to an end,’’ he stated. ”Thousands are dying needlessly. I think we are doing quite well, and I believe we’ll get it done,’’ as quoted by Reuters.
White House Press Secretary Karoline Levitt later mentioned that while the minerals deal has been considered a foundation move, the administration’s primary goal has shifted toward long-term peace talks.
(With inputs from ANI)