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Russian President Vladimir Putin has expressed openness to granting the United States access to Russia’s rare minerals, including those located in Russian-occupied territories of Ukraine.

His comments come as former U.S. President Donald Trump has reportedly pushed Ukraine to offer some of its mineral resources in exchange for American support. According to a Ukrainian minister, the deal is currently in its final stages.

In a televised interview with Russia’s state-owned broadcaster Rossiya 1 on Monday, Putin stated that Russia is willing to collaborate with U.S. partners on joint mining projects, particularly in Russia’s "new territories." He also suggested potential cooperation in aluminium extraction and supply to help stabilize U.S. market prices.

Addressing Trump’s push for access to Ukrainian mineral deposits, Putin emphasized that Russia is open to working with "foreign partners," including international companies, on mining operations.

Meanwhile, Ukraine is facing increasing pressure from the Trump administration to finalize the mineral deal. Ukrainian Deputy Prime Minister for European and Euro-Atlantic Integration, Olga Stefanishyna, stated on X (formerly Twitter) that negotiations have been “very constructive” and that most key details have already been settled.

The European Union has also proposed a mineral partnership with Ukraine, taking a different approach from the U.S. The EU’s Commissioner for Industrial Strategy, Stéphane Séjourné, described the proposal as a "win-win" for both sides.

Kyiv estimates that Ukraine holds approximately 5% of the world's critical raw materials. However, since Russia's invasion three years ago, several of these deposits have fallen under Russian control.

Despite concerns about a potential U.S.-Ukraine agreement, Putin dismissed the deal as insignificant, stating that Russia possesses "significantly more" rare mineral resources than Ukraine.

"As for the new territories, we are ready to invite foreign partners to these historical lands, which have now returned to the Russian Federation," Putin added.

Additionally, he proposed that Russia and the U.S. collaborate on aluminium production in Krasnoyarsk, Siberia, where Russian aluminium giant Rusal operates one of the world's largest smelting facilities.

Putin’s remarks followed a cabinet meeting on Russia’s natural resources.

On Tuesday, Kremlin spokesman Dmitry Peskov told journalists that the proposal presents "broad prospects" for cooperation, emphasizing that while the U.S. requires rare earth minerals, Russia has "an abundance" of them.

Source: BBC News