February 16, 2025

U.S. President Donald Trump’s hopes of securing access to Ukraine’s rare earth minerals hit a wall Saturday after President Volodymyr Zelenskyy rejected the bid on the grounds that it was too focused on U.S. interests.

Prospects of an economic pact in exchange for Washington’s support for the war-torn country have gained traction over recent days amid talk of a wider deal to end the war, but Zelenskyy said the offer tabled thus far did not provide any specific security guarantees for his country.

“I didn’t let the ministers sign a relevant agreement because in my view it is not ready to protect us, our interest,” Zelenskyy told The Associated Press on Saturday in Munich. The U.S. had proposed taking ownership of 50% of Ukraine’s critical minerals, Reuters reported, citing three people familiar with the matter.

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