Ukrainian President Volodymyr Zelenskyy refused to give the United States half of its mineral resources wealth in exchange for aid from the Donald Trump government.
“Help us defend this, and we will make money on this together,” said Zelenskyy, reported the news portal Guardian.
According to multiple media reports, the United States offered a deal where they would give Ukraine the support it needs to fight Russia, in exchange for 50 per cent ownership of the nation’s mineral deposits.
The European nation has key deposits of minerals like Graphite, Lithium, Titanium, Cobalt, Zirconium, Tantalum, Beryllium, Chromium and Vanadium which are used in multiple industrial needs.
A Center for International Relations and Sustainable Development (CIRSD) report described the nation of Ukraine as the “powerhouse” of critical minerals.
According to the mineral reserve data of 2022, Ukraine registered 20,000 deposits out of which 8,700 were proven of ore-bearing minerals and included 117 of the 120 most used metals in minerals in the world.
Due to the importance of these materials in the everyday manufacturing process, the United States stands to gain if Ukraine decides to hand over its mineral resources to fight off Russia in a war that has been waging since 2022.
With the global demand for these minerals expected to rise, Ukraine serves as a good opportunity for countries like the United States and the European Union to leverage the acquisition of these resources.
“Ukraine’s potential to supply these minerals is crucial for countries looking to diversify their supply chains and reduce dependency on countries such as China and other non-democratic regimes. The European Union (EU) and the United States have adopted strategies to leverage Ukraine’s resources to bolster their supply chains, support green transitions, and aid Ukraine’s post-war recovery,” according to a Detons report of 2024. Detons is a multinational law firm.
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