US Treasury Secretary plans to visit Ukraine this week - Bloomberg
Photo: US Treasury Secretary Scott Bessent (Getty Images)
Newly appointed US Treasury Secretary Scott Bessent is scheduled to visit Kyiv this week for preliminary negotiations on US access to Ukraine’s rare earth minerals, Bloomberg reports.
According to Bloomberg sources, Bessent aims to secure access to Ukraine’s critical mineral resources, which are essential for modern industries. If the visit goes ahead, he will become the first member of Trump’s Cabinet to travel to Ukraine. The White House has declined to comment on the matter.
His trip comes just days after President Donald Trump stated that his administration seeks a deal with Ukraine to secure access to strategic resources in exchange for military assistance to help Kyiv defend against Russia’s invasion.
Trump’s proposal on rare earth metals
Recently, President Trump confirmed Washington’s interest in Ukraine’s rare earth minerals. He stated that the US is open to negotiating a deal where Ukraine provides critical minerals in exchange for American military aid.
Responding to Trump’s remarks, Ukrainian President Volodymyr Zelenskyy expressed openness to US proposals.
Earlier today, Trump claimed that Ukraine had "essentially agreed" to provide the US with rare earth minerals worth $500 billion as payment for military assistance provided by Washington.
Trump also asserted that Russia is actively seeking to gain control over Ukraine’s mineral wealth by working with its allies. Kyiv, however, is offering Western partners mutually beneficial cooperation.
Rare earth elements — a group of 17 metals that occur naturally in small quantities — are essential for electronics, aerospace, and medical industries. Ukraine holds significant reserves of graphite, uranium, titanium, and lithium, making it a strategic global supplier of critical materials.
