Trump, Zelensky, and the Metals Deal: Stakes Far Greater Than the Agreement Itself

1st March 2025

3 minutes read

Trump, Zelensky, and the Metals Deal: Stakes Far Greater Than the Agreement Itself

Donald Trump is hosting Volodymyr Zelensky to sign a “deal,” during a visit with stakes that far exceed a mere agreement on Ukraine’s strategic metals.

Trump is set to receive Zelensky around 11:00 AM (16:00 GMT), as Kyiv seeks support in the war that has been ongoing since February 2022.

This comes despite the fact that the Republican president has completely abandoned his predecessor Joe Biden’s policy of supporting Kyiv, opting instead to strengthen ties with Russian President Vladimir Putin.

On Thursday, Trump softened his tone toward Zelensky, downplaying the harsh criticism he had directed at him the previous week, when he called him a “dictator.”

When asked by journalists about this, he responded, “Did I say that? I can’t believe I said that,” before quickly moving on to another question.

He later affirmed that he has “a lot of respect” for his Ukrainian counterpart.

This shift in rhetoric from the former real estate developer—who takes a transactional approach even in politics and diplomacy—could be linked to the agreement expected to be signed between the two countries during this visit.

“We’re going to dig, dig, and dig”

This framework agreement will allow the United States to access and exploit Ukraine’s strategic and rare metal resources, which Trump has demanded in return for the military and financial aid Washington has provided to Kyiv over the past three years.

“We’re going to dig, dig, and dig,” said the 78-year-old Republican president on Thursday.

However, the agreement does not meet Trump’s initial demands. It makes no mention of the $500 billion that the Republican president previously claimed the U.S. should recover. Instead, it establishes a joint investment fund for metals and energy resources.

The text also does not include the security guarantees that Kyiv had requested.

However, according to Gracelyn Paskarat and Meredith Schwartz from the Center for Strategic and International Studies, “the idea is that by investing jointly in the country’s resources, the United States will remain engaged in ensuring Ukraine’s security and stability.”

Trump himself stated on Thursday that this agreement would serve as a “safety net,” adding, “I don’t think anyone will want trouble if we are [in Ukraine] with many workers” exploiting mineral resources.

Manganese and Graphite

Ukraine holds about 5% of the world’s mineral resources, according to available data. However, the metals that interest Trump have not yet been exploited, are difficult to extract, or are located in Russian-controlled areas.

But the stakes behind Zelensky’s visit go beyond the manganese and graphite that his country possesses.

Ukraine and Europe have been closely monitoring with concern the growing ties between Trump and Putin. Two weeks ago, the two leaders had a lengthy phone conversation and initiated bilateral negotiations to end the war in Ukraine, with the Republican billionaire showing determination to move forward quickly.

On Thursday, Trump reiterated that he trusts the Russian president, despite repeated warnings from London and Paris about the fragility of any ceasefire that lacks strong monitoring and security measures guaranteed by the U.S.

He stated that he is convinced that Putin “will keep his word” if a ceasefire agreement is reached.

Trump refuses to hold Moscow responsible for the war and instead blames Ukraine. He has also completely dismissed Kyiv’s request to join NATO.

However, the U.S. president said on Thursday that if a peace agreement is reached, Kyiv might regain some territories.

“We’ll try to recover whatever we can,” he said, acknowledging that the Ukrainian forces “have fought very bravely, no matter what is said.”