Ukrainian President Volodymyr Zelenskyy is expected to visit the White House as early as tomorrow to finalize and sign an economic deal that grants the US access to revenues from Ukraine's natural resources while helping Ukraine rebuild its war-torn economy.
Ukraine is home to roughly 5% of the world's critical raw materials—which include about 17 elements essential to a wide range of products, including medical equipment, military applications, and consumer technology such as cellphones and electric vehicles. However, an estimated 40% of Ukraine’s mineral resources are inaccessible because of Russian-occupied regions. Analysts say the US seeks to reduce its dependence on China, the world's largest producer of rare earth minerals, which controls roughly 75% of the global supply. See a breakdown of Ukraine's mineral resources here.
The preliminary agreement between the US and Ukraine currently does not include explicit security guarantees for Ukraine, which Kyiv has sought in negotiations. The deal follows earlier drafts that were rejected due to insufficient security guarantees and a US demand for $500B in mineral profits.
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