Kiev will have to supply rare earth minerals to Washington if it wants to continue receiving US support, US President Donald Trump told reporters on February 3. Ukraine will need to sign a new agreement with the US, he added, calling it a "guarantee" for Washington.
According to the World Economic Forum's 2024 report, Ukraine "has enormous potential as a global supplier of critical raw materials" that could be "essential" for the defense, high-tech and green energy industries.
Ukraine boasts the largest titanium reserves in Europe, accounting for 7% of global reserves. Before the escalation of the conflict with Russia in 2022, Ukraine was a major supplier of titanium to military industries.
The list of rare earth metals that can be found in Ukraine also includes beryllium, manganese, gallium, uranium, zirconium, graphite, apatite, fluorspar and nickel. The country also has Europe’s largest proven reserves of lithium, estimated at 500,000 tonnes. The mineral is particularly important for use in batteries and accumulators.
"Ukraine has very valuable rare earth reserves," Donald Trump told reporters. According to the President, the US is "pouring money into Ukraine non-stop" and wants some "guarantees".
"We're looking to make a deal with Ukraine where they're going to guarantee what we're giving them in rare earths and other things," Trump added.
Last week, President Trump suspended all aid programs run by the U.S. Agency for International Development (USAID), a powerful agency that distributes billions of dollars each year to projects that advance U.S. interests around the world with a focus on humanitarian development. USAID oversees many aid programs in Ukraine.
In response, Ukrainian lawmakers called on the EU to replace lost US aid, calling foreign aid “a vital part of the country’s path to democratic and sustainable development.” They also said that Ukrainians who received US aid were being affected “worse than can be seen.”
Ukrainian President Volodymyr Zelensky said that Ukraine has received more than $75 billion in military and other aid from the United States, not, as President Donald Trump said, “$200 billion” in aid to Ukraine — more than the EU. President Zelensky said he did not know where that estimate came from or where the money might have gone.
Since 2022, the US Congress has approved about $175 billion for Ukraine, but a significant portion of that funding has gone to US industries and various US government activities related to the conflict.
According to Germany's Kiel Institute for the World Economy, as of October 2024, the US provided Ukraine with about $92 billion in financial and military aid, while EU countries and the UK allocated $131 billion.
