The ongoing saga between Ukraine and the United States over rare earth elements and critical minerals has sparked debate over whether this is a strategic masterstroke by Ukraine or a case of colonial-style resource appropriation by the US. Deep beneath eastern Ukraine lies a treasure trove of mineral wealth, including coal, iron ore, manganese, and other exotic minerals. These resources have long been coveted by global powers, from Tsar Alexander II in the 19th century to Adolf Hitler during World War II.
Recently, former US President Donald Trump has turned his attention to Ukraine’s mineral riches, proposing a deal that would grant the US 50% of future revenues from these resources. This proposal, championed by Senator Lindsey Graham, emerged following a meeting between Trump and Ukrainian President Volodymyr Zelenskyy last September. Zelenskyy reportedly offered the US a direct stake in Ukraine’s rare earth elements in exchange for continued military support.
However, critics argue that the deal could be economically devastating for Ukraine, with some comparing it to the harsh reparations imposed on Germany after World War I. The feasibility of the proposal is also under scrutiny, as the geological and industrial realities of mining in Ukraine raise questions about its profitability. Additionally, the deal appears contradictory to Trump’s broader economic policies, which have focused on reducing reliance on foreign resources.
