Russian President Vladimir Putin said he is open to allowing the United States access to rare earth minerals, including those extracted from Russian-occupied regions of Ukraine.
The statement follows repeated efforts by U.S. President Donald Trump to secure mineral resources from Ukraine in exchange for military and economic support, a deal that is in its final stages, according to a Ukrainian official.
During a state television interview Monday, Putin said Russia is prepared to offer access to mineral resources through joint ventures with American companies. He specifically mentioned potential mining operations in Russia’s “new territories,” referring to areas in eastern Ukraine that Russia has occupied since launching its full-scale invasion three years ago.
Putin also proposed cooperation between Russia and the U.S. in aluminum extraction and supply, emphasizing that such a partnership could help stabilize global prices.
Responding to Trump’s efforts to secure Ukrainian mineral deposits, Putin said Russia remains open to working with “foreign partners,” including U.S. companies, in mineral mining projects. He dismissed concerns over a potential U.S.-Ukraine mineral deal, stating that Russia possesses significantly larger reserves of such resources than Ukraine.
“As for the new territories, it’s the same. We are ready to attract foreign partners to the so-called new, to our historical territories, which have returned to the Russian Federation,” Putin said.
Additionally, he suggested that the U.S. and Russia could collaborate on aluminum production in Krasnoyarsk, Siberia, home to one of Russia’s largest aluminum smelters operated by Rusal.
Putin’s comments followed a cabinet meeting focused on Russia’s natural resources.
Kremlin spokesperson Dmitry Peskov told reporters Tuesday that the proposal presents “broad prospects” for cooperation, adding that the U.S. has a strong demand for rare earth minerals, while Russia has abundant supplies.
