Russia Proposes Rare Earth Metal Deal with the US
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Synopsis
Russia has announced its readiness to negotiate a deal with the US concerning rare earth metals, which are crucial for various technologies. President Putin highlights the abundance of these metals in Russia and emphasizes the need for the US to assess available resources before finalizing any agreements.
Key Takeaways
- Russia is prepared to negotiate rare earth metal deals with the US.
- Significant reserves are located in various regions of Russia.
- US-Ukraine agreements do not involve Russia.
- Evaluating resources is crucial before proceeding with any agreements.
- Ongoing negotiations between Ukraine and the US are nearing completion.
Moscow, Feb 25 (NationPress) On Monday, Russia announced its willingness to negotiate a deal with the United States regarding rare earth metals. In a press briefing in Moscow, Dmitry Peskov, the Press Secretary for the President of Russia, indicated that the nation possesses numerous rare earth metals essential for the US, and any potential agreement would enhance collaboration between the two countries.
Earlier, President Vladimir Putin emphasized that Russia is open to collaborating with "foreign partners, including Americans," to develop its reserves of rare earth metals, particularly in regions of Ukraine currently under Russian control.
"Russia stands as a leading power in the reserves of these rare earth metals. We have them located in the north, in Murmansk, and in the Caucasus, specifically in Kabardino-Balkaria, as well as in the Far East regions like Irkutsk, Yakutia, and Tyva [republics]," Putin stated.
He added that the US-Ukraine agreement concerning rare earth metals and other resources does not pertain to Russia. However, prior to any agreement on rare earth metals, Putin noted that the US must first evaluate the resources available. "Naturally, it will be necessary to assess this resource—their authenticity, quantity, and market value," TASS quoted Putin as saying.
Currently, Ukraine and the US are engaged in renewed discussions to finalize an agreement on rare earth metals. Ukrainian Minister Olha Stefanishyna shared on social media that "Ukrainian and US teams are in the concluding stages of negotiations regarding the minerals agreement. The discussions have been productive, with nearly all key points finalized. We are eager to complete this quickly for its signing. We anticipate that both US and Ukrainian leaders will endorse it in Washington soon to demonstrate our long-term commitment."
In early February, Trump and Zelensky aimed to establish a deal on rare earth metals, but negotiations fell through as Kyiv dismissed Washington's proposal, which sought a 50 percent share of Ukraine's rare earth metals in exchange for assistance, arguing that the agreement lacked security guarantees.
