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Trump announces he will send Treasury secretary to Kiev
(MENAFN) US President Donald trump announced that he will send Treasury Secretary Scott Bessent to Ukraine, possibly as early as this week, to discuss a potential deal involving rare-earth minerals in exchange for financial aid. Trump has recently emphasized that Ukraine should provide the US with critical minerals, in return for the $300 billion in aid provided by the US. In a Fox News interview, Trump stated that continuing to fund Ukraine without receiving tangible benefits would be “stupid.”
Rare-earth metals, essential for producing magnets used in electric vehicles, smartphones, missile systems, and other advanced technology, have no substitutes and are in high demand. Their importance is expected to grow in the coming years. This trip will mark the first time a cabinet-level official from Trump’s administration visits Kiev. Trump posted on Truth Social that Bessent will meet with Ukrainian President Vladimir Zelensky, stressing the need to end the conflict between Moscow and Kiev.
Zelensky has shown openness to a deal but noted that much of Ukraine’s rare-earth reserves are in regions controlled by Russia. He stated that international support is needed to push Russian forces out of these areas before investments can be made. Before the escalation of the conflict in 2022, Ukraine held Europe’s largest reserves of titanium and lithium, critical materials for military and energy industries.
Trump’s demand has faced criticism, including from German Chancellor Olaf Scholz, who described it as "selfish" to use Ukraine’s resources to fund defense efforts. Trump has been calling for a swift resolution to the conflict, with reports suggesting that his special envoy for Ukraine, Keith Kellogg, is working on negotiating a settlement. However, no specific details have been released, and Moscow has expressed willingness to negotiate, provided any discussions are based on mutual terms and respect for Russia’s national interests.
Rare-earth metals, essential for producing magnets used in electric vehicles, smartphones, missile systems, and other advanced technology, have no substitutes and are in high demand. Their importance is expected to grow in the coming years. This trip will mark the first time a cabinet-level official from Trump’s administration visits Kiev. Trump posted on Truth Social that Bessent will meet with Ukrainian President Vladimir Zelensky, stressing the need to end the conflict between Moscow and Kiev.
Zelensky has shown openness to a deal but noted that much of Ukraine’s rare-earth reserves are in regions controlled by Russia. He stated that international support is needed to push Russian forces out of these areas before investments can be made. Before the escalation of the conflict in 2022, Ukraine held Europe’s largest reserves of titanium and lithium, critical materials for military and energy industries.
Trump’s demand has faced criticism, including from German Chancellor Olaf Scholz, who described it as "selfish" to use Ukraine’s resources to fund defense efforts. Trump has been calling for a swift resolution to the conflict, with reports suggesting that his special envoy for Ukraine, Keith Kellogg, is working on negotiating a settlement. However, no specific details have been released, and Moscow has expressed willingness to negotiate, provided any discussions are based on mutual terms and respect for Russia’s national interests.
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