Trump: "Sending Treasury Secretary Scott Bessent"
Agenda Focuses on Rare Earth Resource Swap for U.S. Military Aid
Trump: "I Want Compensation Worth $500 Billion in Resources"
On the 11th (local time), President Trump posted on his social media platform Truth Social, stating, "I will send Minister Besent to Ukraine to meet with President Zelensky." Photo by Trump Truth Social
U.S. President Donald Trump has revealed plans to receive rare earth elements in exchange for military support to Ukraine, as U.S. Treasury Secretary Scott Bessent prepares to visit Ukraine. Ukraine has expressed a welcoming stance toward the U.S. proposal, aligning the interests of both countries. Ukrainian President Volodymyr Zelensky has also shown openness to exchanging rare earth elements based on U.S. war support, expressing his "welcome" for the idea.
Trump Confirms Bessent's Ukraine Visit on Truth Social
On the 11th (local time), President Trump confirmed Treasury Secretary Bessent's plan to visit Ukraine in a post on his social media platform, Truth Social, stating, "I will send Secretary Bessent to Ukraine to meet with President Zelensky." He added, "This war must and will end soon," and said, "The U.S. has spent billions of dollars but has little to show for it. When America is strong, the world is peaceful."
Bloomberg News reported that Secretary Bessent is scheduled to visit Ukraine this week as part of initial discussions to secure U.S. access to Ukraine's rare earth minerals.
If Secretary Bessent visits Ukraine, he will be the first cabinet member of the Trump administration's second term to do so. President Zelensky mentioned to the media that "several key figures from the Trump team will come to Ukraine before the Munich Security Conference this week (on the 14th)," and Bessent is presumed to be one of these "key figures."
The main agenda for the meeting between Secretary Bessent and President Zelensky is expected to include ceasefire issues and sharing the burden of support costs through the provision of rare earth elements. On the 3rd, President Trump publicly expressed his hope to receive rare earth elements from Ukraine, which the U.S. is militarily supporting. He reiterated this in a Fox News interview aired on the 10th (local time), stating, "This war should never have happened from the start," and "The Ukraine issue will be resolved, and I want to ensure the money America has invested is secured." He also expressed his desire to secure resources worth $500 billion, including rare minerals.
White House National Security Advisor Mike Waltz said in a media interview on the 9th, "We need to recover those costs (U.S. support to Ukraine)," adding, "This will involve cooperation with Ukraine regarding Ukraine's rare earths, natural resources, oil and gas, and Ukraine purchasing our resources."
Following Secretary Bessent's visit, meetings are also planned around the Munich Security Conference, including a meeting between Vice President J.D. Vance and President Zelensky, and a visit by Keith Kellogg, the U.S. special envoy for Ukraine and Russia (around the 20th). Kellogg is regarded as a key figure in shaping the overall peace proposal. The political news outlet Politico also reported that Vice President Vance might meet with President Zelensky around the 14th.
Ukraine Also Welcomes Proposal... Zelensky Open to 'Rare Earth Exchange'
Volodymyr Zelensky, President of Ukraine, is delivering a speech at the United Nations Headquarters in New York on September 23 last year (local time). / Reuters·Yonhap News Agency
Ukraine has also expressed a welcoming stance toward the U.S. proposal. President Zelensky has indicated openness to exchanging rare earth elements based on U.S. war support. On the 4th, he stated, "We are open to developing all these resources together with allies who help defend our territory and repel the enemy with weapons and sanction packages, and this is entirely justified."
In an interview with the British daily The Guardian on the 10th (local time) in Kyiv, Zelensky said, "Ukraine's uranium and titanium deposits are the largest in Europe," adding, "If these fall into Russian hands and are shared with North Korea, China, or Iran, it would not be in the U.S. national interest." Zelensky said, "This will be an investment opportunity for our partners that did not exist before," and added, "It will create jobs for us and profits for American companies."
He also emphasized that it could provide U.S. companies with reconstruction projects or investment opportunities, stating, "Those who help save Ukraine will have the chance to innovate Ukraine together with Ukrainian companies."
The alignment of interests between the U.S. and Ukraine is also why there is speculation that the Trump administration, which had been negative about military support to Ukraine, might shift toward continuing support. There are prospects that support could continue in exchange for receiving Ukraine's rare earth elements.
Meanwhile, President Zelensky said on the same day that if peace negotiations with Russia take place, "We will exchange one territory for another," proposing a direct territorial swap. Regarding the land Ukraine captured about six months ago in Russia's Kursk region, he said he does not know which parts of Ukrainian territory occupied by Russia will be returned in exchange, but "all territories are important, and there is no priority."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
