U.S. President Donald Trump signaled that Ukrainian President Volodymyr Zelensky is reconsidering signing a deal with the United States on critical minerals. During remarks to reporters aboard Air Force One on March 30, Trump said, "He's trying to back out of the rare earth deal and if he does that he's got some problems, big, big problems.
The planned deal includes joint development of Ukraine's natural resources, including rare earth metals. Ukrainian authorities are, however, said to be negotiating changes to the deal, including greater U.S. investment and more defined terms for the operation of the joint fund.
President Zelensky has spoken out against any deal that could slow down Ukraine's bid to join the European Union. He noted that no deal should compromise Ukraine's EU accession strategy.
The Trump administration sees the minerals agreement as a way of having the U.S. recoup some of the economic assistance it has extended to Ukraine since Russia began invading the country in 2022. The agreement, however, has been criticized owing to questions regarding the scope of Ukraine's rare earth mineral deposits and the intricacies involved in their mining.
Meanwhile, President Trump has talked with Russian President Vladimir Putin about the possibility of cooperation on rare earth metals. After a March 18 phone conversation, Trump was interested in increasing trade with Russia as a means of gaining access to vast rare earth resources.
The moves highlight the complex geopolitics involved in critical minerals and strategic value in global affairs.
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