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New York Times
01-05-2025
- Business
- New York Times
The U.S.-Ukraine Mineral Deal: What We Know
Ukraine signed a deal giving the United States control over a share of its future revenue from natural resources, a long-awaited agreement that Kyiv hopes will clear the way for continued U.S. support and a cease-fire with Russia. The announcement late Wednesday that the deal had been signed came after months of fraught negotiations — including an explosive Oval Office confrontation — as the Trump administration tries to broker an end to Ukraine's three-year war with Russia. The agreement, which involves creating a joint investment fund between the countries, is intended to give President Trump a personal stake in the country's fate while addressing his concerns that the United States has provided Kyiv with a blank check to try to withstand Russia's invasion. It could also clear the way for more consequential talks on U.S. military backing for Ukraine and on the terms of a possible cease-fire with Russia. What happened in the Oval Office The deal was initially meant to be signed when President Volodymyr Zelensky of Ukraine visited Washington in February. But a signing ceremony was abruptly canceled after Mr. Trump and Mr. Vance castigated the Ukrainian president in the Oval Office for what they said was not being grateful enough for U.S. support and sought to press him into making a peace deal. Critical mineral deposits in Ukraine Titanium Lithium Cobalt Other critical minerals Ukraine holds territory in Russia's Kursk region. BELARUS RUSSIA Kyiv UKRAINE Area controlled by Russia MOLD. ROMANIA CRIMEA Critical mineral deposits in Ukraine Titanium Lithium Cobalt Other critical minerals RUSSIA BELARUS Ukraine holds territory in Russia's Kursk region. POLAND Lviv Kyiv Kharkiv UKRAINE Dnipro Area controlled by Russia MOLDOVA Odesa ROMANIA CRIMEA Note: Critical minerals are those that are important for industry, including many green technologies, and have a high risk of supply disruption. Sources: Conflict and Environment Observatory, Institute for the Study of War with American Enterprise Institute's Critical Threats Project By Samuel Granados Want all of The Times? Subscribe.
New York Times
25-02-2025
- Business
- New York Times
At Stake in Ukraine-Trump Deal: Titanium, Lithium and Rare Earths
Officials in Ukraine and the Trump administration say they are close to a deal that would give the United States revenues from Ukraine's minerals and other natural resources, including titanium, lithium, oil, natural gas and rare earth elements. Critical mineral deposits in Ukraine Titanium Lithium Cobalt Other critical minerals Ukraine holds territory in Russia's Kursk region. BELARUS RUSSIA Kyiv UKRAINE Area controlled by Russia MOLD. ROMANIA CRIMEA Critical mineral deposits in Ukraine Titanium Lithium Cobalt Other critical minerals RUSSIA BELARUS Ukraine holds territory in Russia's Kursk region. POLAND Lviv Kyiv Kharkiv UKRAINE Dnipro Area controlled by Russia MOLDOVA Odesa ROMANIA CRIMEA Note: Critical minerals are those that are important for industry, including many green technologies, and have a high risk of supply disruption. Sources: Conflict and Environment Observatory, Institute for the Study of War with American Enterprise Institute's Critical Threats Project By Samuel Granados A draft agreement seen by The New York Times described the creation of an U.S.-controlled fund that receives revenue from Ukraine's natural resources. It did not offer any security guarantees. What are Ukraine's natural resources? Ukraine, the largest country wholly within Europe, controls more than 100 major deposits of critical minerals, according to a study by the Kyiv School of Economics, along with modest oil and natural gas reserves. Ukraine has deposits of 20 of the 50 minerals the U.S. Geological Survey lists as critical for America's economic development and defense, including: Titanium is used in construction, airplanes, orthopedic implants and as an additive in paint and cosmetics, including sunscreen, among many other things. Titanium mines in central Ukraine account for about 6 percent of global production, according to Ukrainian media. Lithium is a crucial element in batteries, including those in electric vehicles, and in other industrial products, including some medications. Ukraine has a third of Europe's total reserves, although some sites are in war-contested areas. Before the war with Russia, Ukrainian officials suggested to Elon Musk that he invest in Ukrainian lithium mines. Uranium is used in nuclear power plants and nuclear weapons. Ukraine has the largest uranium reserves in Europe. Rare earths are a group of more than a dozen metals, much less abundant than Titanium or Lithium, that are used in many high-tech sectors, including green energy, electronics and aerospace. Ukraine has substantial reserves that are mostly untapped, and it is unclear how expensive they would be to extract. What does Trump want? Mr. Trump says he wants revenue from the minerals as repayment for military aid that the United States has provided to Ukraine. Want all of The Times? Subscribe.
