US President Donald Trump announced on Monday, the 3rd of January, that he wants Ukraine to supply the US with rare earth minerals in return for financial support for the country’s war against Russia. A source in the president’s office said it was part of President Volodymyr Zelenskyy’s “victory plan” that he had presented to the leaders, according to the Kyiv Independent and Reuters.
“We want to make a deal with Ukraine where they will provide us with rare earths and other things in exchange for what we give them,” Trump told reporters in the Oval Office.
“I want us to be assured of rare earths. We are investing hundreds of billions of dollars. They have great rare earth metals. And I want that security, and they are willing to do that,” he said, adding that he wanted “equalization” from Ukraine for Washington’s “almost 300 billion US dollars” in aid.
Trump did not specify what kind of material Washington wants from Ukraine.
Ukraine has large deposits of uranium, lithium and titanium, although they are not among the five largest in the world. The US has its own reserves, but only one rare earths mine and little processing capacity. China is the largest producer of rare earths and many other important minerals.
A source in the President’s office familiar with the matter told us that the sharing of Ukraine’s resources with allies was part of President Volodymyr Zelenskyy’s “victory plan”, which he has demonstrated to foreign leaders, including Trump.
“But to achieve this, (Ukraine’s) security must be guaranteed, so that the Russians do not occupy this Ukrainian land with minerals,” the source told the Kyiv Independent.
Trump’s remarks came at a time of uncertainty about future US assistance to Ukraine.
While military aid to Ukraine, which amounts to 65.9 billion US dollars since Russia’s full-scale invasion began in February 2022, is unaffected by the aid freeze, US Agency for International Development (USAID) programmes in Ukraine have lost funding.
Since the start of Russia’s full-scale invasion, USAID has provided Ukraine with 2.6 billion US dollars in humanitarian assistance, five billion US dollars in development assistance and more than 30 billion US dollars in direct budget support.
The head of the Department of Government Effectiveness (DOGE), Elon Musk, on Monday threatened to close the agency and said that President Trump agrees that USAID should be “shut down”.
Secretary of State Marco Rubio announced on Monday that he is now in charge of USAID, placing it under the State Department, and that he has approved a review and possible reorganisation of USAID to “maximise efficiency and align with the national interest”.
Asked about USAID’s role in national security and promoting US interests, he said that “there are things that USAID… should continue to do, and we will continue to do them”.
The Ukrainian Parliament’s Committee on Humanitarian Aid and Information Policy has started consultations with European counterparts on a temporary replacement of US funding.
In 2023, the US, through USAID and other channels, provided 72 billion US dollars in assistance in women’s health, clean water, HIV/AIDS treatment, energy security and anti-corruption. In 2024, it provided 42% of all UN-listed humanitarian assistance. This aid still represents less than 1% of the US budget.