Will Trump and Zelensky sign the valuable mineral agreement?
BS Finance - Diplomatic delegations from the USA and Ukraine met tomorrow in Saudi Arabia following the crisis that occurred during Ukrainian President Volodymyr Zelensky's visit to the White House on February 28.
First contact after the fight
Saudi Arabia is hosting diplomatic delegations from the USA and Ukraine tomorrow after the heated discussion that took place between Ukrainian President Volodymyr Zelensky, US President Donald Trump, and Vice President JD Vance at the White House on February 28.
The intelligence sharing ban had been lifted
The US President stated in a press release yesterday that the ban on intelligence sharing with Ukraine had almost ended and that he expected good results from the meetings with Ukrainian officials in Saudi Arabia.
CIA Director John Ratcliffe had expressed that the decision to halt intelligence sharing was made to ensure Zelensky’s collaboration with Trump regarding the initiation of peace talks with Russia. In addition to halting intelligence sharing, the US had also suspended military aid to Ukraine.
A fight had broken out in the first meeting
Trump had angrily told Zelensky during the White House visit, “You are gambling with the risk of World War III, and what you are doing is a huge disrespect to this country.” Following the crisis that turned the White House visit into chaos, Zelensky had to leave the US without signing the agreement granting Ukraine access to rare earth elements. Kiev hoped that this agreement would secure the continuation of US military support for Ukraine. The signing of this agreement is expected to take place during the discussions in Jeddah, Saudi Arabia.
Saudi Arabia also hosted talks between the US and Russia last month. Seen as an ideal location for potential peace negotiations between Kiev and Moscow, Saudi Arabia is also rumored to host the first face-to-face meeting between Russian President Vladimir Putin and US President Trump.
Who will participate in the talks?
Zelensky is expected to visit Saudi Arabia before the talks in Jeddah. In a statement made on Friday regarding the meetings, Zelensky said, “We continue to take necessary steps with our partners who desire peace as much as we do. There will be a lot of work done in Europe, America, and Saudi Arabia.”
Zelensky announced that he would be accompanied by Head of the Presidential Office Andriy Yermak, Foreign Minister Andriy Sybiha, and Defense Minister Rustem Umerov during his visit to Saudi Arabia. On the US side, Foreign Minister Marco Rubio will lead the Ukrainian talks, and Rubio will also meet with Saudi Arabia’s de facto leader Crown Prince Mohammed bin Salman.
Sybiha had a phone conversation with Rubio on Friday before the talks. Describing the meeting as a "constructive call," the two-sentence statement from the US Department of State noted that Rubio “emphasized President Trump's determination to end the war as soon as possible and stated that all parties need to take steps towards a sustainable peace.”
Kremlin Spokesman Dmitry Peskov responded to a question from reporters regarding the talks, saying, “What we expect is not important. What matters is what the US expects.” Peskov also stated that Ukraine needs to decide whether it wants peace.
What rare earth elements does Ukraine have?
Ukraine possesses one of Europe’s largest critical mineral deposits, and a significant portion of these resources remains unexploited. According to the Ukrainian Geological Institute, the country has rare earth elements such as lanthanum and cerium used in televisions and lighting, neodymium used in wind turbines and electric vehicle batteries, and erbium and yttrium, which have larger usage capacities in nuclear energy and laser technology.
According to a report by the Independent, research funded by the EU shows that Ukraine also has reserves of scandium, but this data is kept confidential.
Zelensky has been striving to develop these resources for years. According to data from Forbes Ukraine cited by the Independent, the total value of Ukraine's mineral resources exceeds £12 trillion ($15 trillion).
In 2021, Zelensky offered tax reductions and investment rights to foreign investors for extracting these minerals. However, these efforts were suspended due to the war that began in 2022.
53% in regions annexed by Russia
About 53% of Ukraine's mineral resources, worth approximately $7.5 trillion, are located in the four regions (Luhansk, Donetsk, Zaporijya, and Kherson) annexed by Russia. However, Kherson does not have much value in terms of minerals.
The Crimean Peninsula, occupied in 2014, has minerals valued at £165 billion (approximately $209 billion).
This news was first published on the BSHaber website.