Russia has shown its readiness to negotiate a rare earth metals agreement with the United States, which indicates possible cooperation between the two countries.
Addressing the media in Moscow on Monday, Press Secretary to the Russian President Dmitry Peskov said that Russia has rich reserves of rare earth metals, which are sought by the U.S., and any subsequent agreement could reinforce bilateral relations.
Earlier today, Russian President Vladimir Putin reaffirmed his nation's willingness to cooperate with "foreign partners, including Americans," in the development of rare earth and other strategic mineral deposits, including those in portions of Ukraine that are now under Russian occupation.
"Russia is one of world leaders in rare earth metal reserves. We possess major reserves in the north, in Murmansk, and in the Caucasus, mainly in Kabardino-Balkaria. We also possess resources in the Far East, namely in the Irkutsk region, Yakutia, and the Tyva Republic," Putin declared.
He also dismissed fears of Russia being affected by the ongoing United States-Ukraine talks regarding rare earth minerals, claiming that all such negotiations meant nothing to Russia. Yet before any agreement takes place, Putin stressed that they should weigh in on assessing the real scale and value of such resources. "Of course, an assessment is needed to decide on the scope, feasibility, and economic value of these deposits," Russian news agency TASS quoted him as saying.
In the meantime, Ukraine and the United States are in deep talks to conclude a rare earth minerals deal. Ukrainian Deputy Prime Minister Olha Stefanishyna announced the developments on social media, adding, "The Ukrainian and U.S. teams are working on the final stages of negotiations in the minerals agreement. The negotiations have been very constructive, with most major details agreed upon. We are determined to finish this quickly so that the agreement will be signed soon. We hope both U.S. and Ukrainian leaders will sign it in Washington as a sign of our long-term commitment."
Previous discussions by former U.S. President Donald Trump and Ukrainian President Volodymyr Zelensky on a rare earth metals partnership in February had also collapsed due to a lack of agreement. Washington's offer to take 50% rights to Ukraine's rare earth deposits in return for U.S. support had been turned down by Kyiv due to a failure to include security guarantees in the offer.
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