Russian President Vladimir Putin has said that Moscow is willing to consider cooperating with the U.S. in mining rare earth minerals both in Russia and parts of Russian-occupied Ukraine.
Putin, in an interview broadcast on Russian state television Monday, emphasized Russia’s vast deposits of rare-earth minerals and their importance for the Russian economy but said his nation needs to do more to capitalize on its resources. He also said he is open to making an energy deal with the U.S.
His comments come as the Trump administration seeks to recoup the cost of aid sent to Ukraine by gaining access to Ukraine’s rare earth minerals, such as titanium, iron, and uranium, as part of a peace deal.
‘Russia is one of the undisputed leaders in terms of reserves of these rare and rare-earth metals,’ Putin told state media correspondent Pavel Zarubin. ‘These are quite capital-intensive investments, capital-intensive projects. We would be happy to work together with any foreign partners, including American ones.’
Putin said that Russia would be willing to sell about 2 million tons of aluminum to the US market if the US lifted sanctions restricting the import of Russian metals. He said the move could help stabilize prices.
He said that in 2017, Russia supplied about 15% of all American aluminum imports. Today, however, U.S. imports of Russian aluminum have dipped at least threefold due to sanctions.
Putin also said a deal could be reached on Russian-occupied areas of Ukraine, which he referred to as ‘new territories.’
‘As for the new territories – the same applies: we are ready to attract foreign partners, and our so-called new historical territories, which have returned to the Russian Federation, also have certain reserves there,’ Putin said. ‘We are ready to work with our foreign partners, including American ones, there as well.’
Putin also said that he is also willing to negotiate with the U.S. on Russian energy.
‘There is much to think about here, as well as joint work on rare and rare-earth metals, and in other areas, including, for example, energy,’ Putin said.
His comments came on the third anniversary of Russia’s invasion of Ukraine. A war that has killed thousands of civilians and displaced millions.
President Donald Trump suggested the war could end within weeks and wants to make a deal on Ukraine’s rare earth minerals.
The president, from the Oval Office Monday, hinted at a potential meeting with Ukrainian President Volodymyr Zelenskyy to finalize an agreement for rights to access its natural resources in exchange for the United States billions of dollars in support for the country’s war against Russia.
‘In fact, he may come in this week or next week to sign the agreement, which would be nice, I’d love to meet him. Would meet at the Oval Office,’ Trump said. ‘The agreement is being worked on now.’
‘They are very close to a final deal,’ said the president, who was meeting French President Emmanuel Macron in the Oval Office on Monday.
Trump said the deal is ‘very beneficial to their economy,’ while Treasury Secretary Scott Bessent added it is ‘very close.’
Trump’s comments come just after he posted on Truth Social that he was in ‘serious discussions’ with Putin about ending the Russia-Ukraine war.
The president on Monday also predicted that the Russia-Ukraine war could end within weeks and that Putin would accept allowing European peacekeeping troops in Ukraine as part of a potential peace deal.
Trump administration officials, including White House national security advisor Mike Waltz, Secretary of State Marco Rubio and Special Envoy to the Middle East Steve Witkoff, met in Riyadh, Saudi Arabia, recently with Russian Foreign Minister Sergey Lavrov and President Vladimir Putin’s foreign affairs advisor Yuri Ushakov to hash out ways to end the conflict.
Ukraine was absent from the negotiations in Saudi Arabia, a move that irked Zelenskyy.