‘More than an economic deal’: Rare earths pact with US could give Ukraine strategic gains, say analysts

Zelenskyy is set to meet US President Donald Trump at the White House on Friday (Feb 28) to sign a deal – one that he hopes will continue American support for Ukrainian forces struggling to fend off further Russian gains in a war that just entered its fourth year. 

“If Trump – the most ‘America First’ of all presidents – can sign off on a deal … where the US has a direct stake in Ukraine’s survival as a sovereign state that has not been taken over or turned into a vassal state by Russia, that is a massive strategic gain,” said Robin Niblett, a distinguished fellow at London-based think tank Chatham House. 

“This is much more than an economic deal. This really is a strategic step (for both sides).”

WHAT US, UKRAINE GET FROM THE DEAL

Already, Trump has said of the upcoming agreement: “We’ll be on the land (in Ukraine) and … in that way, it’s this sort of automatic security, because nobody’s going to be messing around with our people when we’re there.” 

The US sees the deal as an opportunity to decrease its reliance on China for critical rare earth minerals, which are crucial for advanced defence technologies, electronics, medical equipment, renewables, and other products vital in the modern world. 

The US has depended heavily on China, a leading supplier, for the import of several critical minerals.

But recently, Beijing imposed a ban on their export to the US as part of its retaliation to increased American tariffs on Chinese goods. 

Access to Ukraine’s reserves would give the US an alternative source. Kyiv has said it holds about 5 per cent of the world’s critical raw materials.