Russia floats critical minerals deal with the US

The News

Russian President Vladimir Putin floated the possibility of cooperating with the US to explore Russia’s rare earth mineral deposits in an interview with state media Tuesday, saying his country had an “order of magnitude” more of the materials than Ukraine.

Potential exploration deals could include deposits in Russian-occupied eastern Ukraine, Putin said, adding that US companies could “make good money” by helping to develop aluminium production in Siberia.

It came as the US and Ukraine were closing in on a minerals-for-aid deal following intense lobbying by the Trump administration. Reports have differed on what Washington is actually offering in exchange for preferential access to Kyiv’s mineral riches: Axios said it would keep Ukraine ”free, sovereign, and secure,” but The New York Times said no security guarantees were agreed.

The EU, meanwhile, pitched a rival ”win-win partnership″ to Ukrainian officials on Monday: “The added value Europe offers is that we will never demand a deal that is not mutually beneficial,” the European Commissioner for industrial strategy noted.