Trump corrects himself on Zelensky and seals rare earths deal

White House meeting between Trump and Zelensky. After controversy over ‘dictator’ term, rare earths deal is sealed, but uncertainty over Ukrainian reserves remains high

‘Great respect’ for Ukrainian President Volodymyr Zelensky: this is how Donald Trump, President of the United States, described the Ukrainian leader on the eve of their talks at the White House. However, his previous statement, in which he called Zelensky a ‘dictator’, did not go unnoticed. Asked by the BBC if he intended to apologise for that comment, Trump responded with some disbelief: ‘Did I say that? I can’t believe it.’ Despite the ambiguity of his words, Trump praised Zelensky, calling him ‘very brave’ and emphasised the importance of a positive meeting.

Meeting with PM Starmer and progress towards peace

Trump made these statements after a meeting with British Prime Minister Sir Keir Starmer, during which the end of the conflict between Ukraine and Russia was discussed. The US president expressed optimism about the upcoming meeting with Zelensky, stating that the peace negotiations are ‘progressing very quickly’. However, uncertainties about his earlier definition of Zelensky raise doubts about the consistency of his words.

Agreement on rare earths: an opportunity for Ukraine?

Today an important step for economic relations between the US and Ukraine is expected with the signing of a bilateral agreement on rare earths. Trump called the understanding a ‘safety net’ for Ukraine, highlighting how the agreement favours American involvement in the exploitation of the country’s natural resources. ‘President Zelensky will come to me and we will sign a very important agreement, which will allow the United States to enter the country and work there,’ Trump said.

The details of the agreement and the unknowns about the reserves

The agreement provides for the creation of a joint fund, in which Ukraine will contribute 50% of the revenues from the exploitation of state mineral resources, such as lithium, graphite, cobalt, titanium and other rare earths. The fund will also be used to support future development projects in the country, with a concrete US commitment to economic revitalisation.

Despite this, significant doubts remain as to the actual reserves of rare earths in Ukraine. The US Geological Service, an authoritative source on the subject, states that the country has no significant reserves of rare earths. However, the Ukrainian Deputy Prime Minister, Yulia Svyrydenko, has estimated that the reserves could have a potential value of $350 billion, pointing out, however, that most of these resources are located in the occupied territories.

Rare earths: a strategic asset

Rare earths, used in sectors such as nuclear power, military industry, medicine and aerospace, are crucial to modern economies. However, Ukraine, potentially one of the richest countries in terms of mineral resources, is struggling to map its riches after years of war. The lack of clarity about available reserves raises doubts about the actual scope of the agreement signed with the US, making the future of this collaboration still uncertain.

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