Ukraine Grants U.S. Access to Rare Mineral Reserves

Ukraine has decided to give the United States access to its rare mineral reserves. Ukrainian officials have confirmed that all the terms of the agreement with the U.S. have been finalized, according to the BBC.

Deputy Prime Minister Olha Stefanishyna for European and Euro-Atlantic Integration shared on social media that all major issues have been settled.

Ukraine says it holds 5% of the world’s important raw minerals, including 19 million tons of graphite. Graphite is a key material used in batteries for electric vehicles. Ukraine’s geological survey agency states that the country is among the top five suppliers of this mineral worldwide.

Ukraine also has large lithium reserves and is the third richest country in Europe for lithium. However, Russia, which has been attacking Ukraine, has taken control of some of these mineral deposits.

Earlier, Russian President Vladimir Putin had suggested allowing the U.S. access to rare minerals in Russia and Russian-occupied parts of Ukraine.

Former U.S. President Donald Trump had also pressured Ukraine to give its rare minerals in exchange for financial aid.