President Trump has a demand for Ukraine. βI told them that I want the equivalent, like $500 billion worth of rare earth, and they've essentially agreed to do that. So at least we don't feel stupid.β Ukraine hasn't essentially agreed to do that, but it's claimed Donald Trump wants 50% of Ukraine's mineral resources in return for past military aid and future security guarantees. He claims, without evidence, the U.S. has already spent $350 billion dollars. Available data suggests the figure is actually 120 billion. Last year, President Zelensky did say foreign firms may get access to some of Ukraine's natural resources after the war. This month, he said βThe Americans helped the most and therefore the Americans should earn the most.β But he has a limit. βYou will write down some guarantees and we will write a memorandum with some percentages. I was told only 50 percent. I said, OK, No.β Susan Glasser of The New Yorker calls the idea βa straight out extortion blackmail demand.β To Trump, it's simply what is owed. And The Telegraph reports Ukraine was recently given a draft deal, one that goes far beyond U.S. control over Ukraine's critical minerals and includes everything from ports and infrastructure to oil and gas. The Telegraph says this amounts to a higher share of Ukrainian GDP than reparations imposed on Germany after the First World War. And there are reasons why the US would want Ukraine's resources. China recently banned the exports of several minerals and metals to the US. Ukraine could be an alternative source. One assessment says it has great potential to become the mineral superpower in Europe. That includes graphite, used in batteries and nuclear reactors, and lithium, also used in batteries. Both are considered critical to the US economy and national security. Ukraine also has rare earth elements, used in electronics and clean energy.
But accessing these resources is not straightforward. Some are in territory controlled by Russia. Others are close to the front line. And across Ukraine, there are challenges. Mining is an ecosystem. Mining is energy grids. It's water infrastructure. It's roads. It's ports. It's rail. And a lot of that is gone. Despite this, Donald Trump appears to be giving Ukraine a choice. Give up many of its minerals or risk being left to fight Russia without US help.
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