President Volodymyr Zelensky of Ukraine is set to visit Washington on Friday to finalize a significant agreement with U.S. President Donald Trump, focusing on the strategic supply of rare earth minerals. The meeting, which is highly anticipated, is expected to signal not only economic cooperation but also the future of U.S.-Ukraine relations during the protracted conflict with Russia.
During the first cabinet meeting of his second term, Trump confirmed Zelensky's attendance, stating, "Zelensky arrives on Friday, it is confirmed, and we will sign an agreement". The deal, valued at nearly $350 billion, is aimed at providing the U.S. access to Ukraine's vast mineral resources, which are deemed necessary for various technological and military applications.
The rare earth minerals included in this agreement, such as lithium, cobalt, and titanium, play pivotal roles not only for technological projects but also for defense industries. Given the predicted growth of the market for these minerals—expected to reach $21.7 billion by 2031—the stakes are high for both countries. Trump underscored, "We will recover our money and gain much future revenue from this mining effort, which I think is fair".
On the sidelines of the meeting, Zelensky emphasized the importance of receiving security guarantees from the United States, which he believes are fundamental to preventing Russia from causing more devastation. "Guarantees of peace and security are key to preventing Russia from destroying the lives of other nations. It is important for me and for all of us around the world to know America’s support does not falter," Zelensky said during his evening address on social media.
Despite the optimism surrounding the agreement, tensions remain. Trump appeared indifferent to providing security guarantees for Ukraine, stating, "The European Union must be the one to provide security guarantees because they are the closest neighbors to Ukraine. I will make sure everything goes well, but let Europe handle security matters". This sentiment echoes Trump's previous comments dismissing Ukraine's aspirations to join NATO, which he suggested was one of the root causes of the conflict.
Internationally, other leaders are closely monitoring this development. Russian Foreign Minister Sergey Lavrov accused European nations of provoking Ukraine to continue fighting, stating, "When the political situation changes, as shown by votes at the United Nations, Europe immediately sabotages this trend by announcing new military aid packages to Ukraine".
Meanwhile, Italian Prime Minister Giorgia Meloni opined on the importance of laying the groundwork for lasting peace, asserting, "A just and enduring peace can only be achieved if sufficient security guarantees are provided to Ukraine... Otherwise, there is little hope for stability".
Zelensky's visit coincides with broader discussions about potential European troop deployments to Ukraine, as separate discussions continue at the NATO level. For the moment, the focus remains on the rare earth agreement—a deal seen as potentially transformative not only for Ukraine's economy but also for the security dynamics of the region.
The agreement is expected to create a fund where the U.S. and Ukraine will jointly invest, benefiting from the exploitation of their mineral resources. The text outlines joint ownership agreements and stipulates contributions from Ukraine to this fund, drawn from future monetization of the state's natural resources. "This agreement can be a great success or simply vanish, and its success will depend on our conversations with President Trump," Zelensky noted.
The geopolitical dimensions are multifaceted, particularly concerning concerns over whether the U.S. commitment to Ukraine will extend beyond mere economic agreements to broader support against Russian aggression. Zelensky's insistence on security guarantees reflects the delicate balancing act his administration is undertaking as it seeks to secure both immediate economic benefits and long-term national security assurance.
Looking forward, as Zelensky prepares for meetings not only with Trump but with British Prime Minister Keir Starmer and French President Emmanuel Macron this weekend, the outcomes of these discussions could significantly influence future U.S.-European relations and the overarching strategy toward Russia. Trump's administration's approach will be under scrutiny, especially as Europe contemplates its own defense strategies independent from U.S. support.
With raw materials under Ukraine's control increasingly becoming central to the global supply chain, the country stands on the precipice of reshaping its economic future against the backdrop of war. It remains to be seen whether the agreement will pave the way toward lasting peace or simply serve as another chapter in the protracted negotiation process surrounding the conflict with Russia.