During crucial discussions at the Munich Security Conference, Ukrainian President Volodymyr Zelenskyy rejected a proposal from the United States (US) to give the US access to Ukraine’s rare earth mineral reserves, estimated to be worth around $500 billion.
The deal offered by US Treasury Secretary Scott Bessent is seen as payment for the military and financial support given to Ukraine to fight Russia.
However, Zelenskyy has firmly instructed his ministry not to sign the deal, arguing that there are no clear security guarantees to protect their country from future Russian threats.
He stated that any form of mineral exploitation must be accompanied by stronger security guarantees to protect their country.
Having received $175 billion in aid from the US, including military support from NATO and the EU, it is now time for Ukraine to ‘pay back’.
Access to this critical resource may be the price they have to pay if they want to continue receiving aid, or… ‘checkmate’?
