Russia Wants Rare Earth Minerals Deal with US, Without Ukraine: Putin

Russian president says US and Russian companies in touch, discussing joint economic projects linked to resolving Ukraine conflict

Sun Mar 02 2025
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News desk

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ISLAMABAD: Russian President Vladimir Putin said he is open to offering the US access to rare minerals, including those from Russian-occupied Ukraine.

This comes after US President Donald Trump has repeatedly pushed for Ukraine to give up some of its minerals in exchange for support, in a deal which is currently being finalised, according to a Ukrainian minister.

In a state TV interview on Monday, Putin said he was ready to “offer” resources to American partners in joint projects, including mining in Russia’s “new territories” – a reference to parts of eastern Ukraine that Russia has occupied since launching a full-scale invasion three years ago, the BBC reported.

US President Donald Trump is pushing for Ukraine to sign a deal giving it privileged access to its reserves of valuable minerals.

Rich in reserves

Putin gave an interview after summoning his cabinet for a meeting on Russia’s resources of strategically important and rare earth minerals, saying that Russia is a world leader in terms of reserves, with far more of these than Ukraine, and “must do more” with them.

“We would work with pleasure with any foreign partners including with Americans,” he said, listing various regions including Siberia and far east Russia where these rare elements are found.

“We are also ready to attract foreign partners to our so-called new territories — our historic territories that have gone back to being part of Russia,” Putin said, referring to the regions of Ukraine Russia has occupied through its military offensive.

We would work with pleasure with any foreign partners including with Americans.” – Russian President Vladimir Putin

“There are also certain reserves there. We are ready to work with our partners, including Americans, in our new regions too,” AFP quoted him saying.

He said he could confirm that US and Russian companies were “in touch” and discussing joint economic projects linked to resolving the Ukraine conflict.

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