Ukraine's mineral wealth at stake amid Russian invasion
The President of Ukraine, Volodymyr Zelensky, in an interview with Reuters, emphasized that Russia has seized less than 20% of Ukraine's mineral resources and appealed for international assistance to protect them. Ukraine boasts the largest reserves of titanium and uranium in Europe.
Zelensky explained that while the Russians occupy 20% of the country's territory, they have not taken over 20% of the mineral resources. Nevertheless, the value of the resources they control may reach hundreds of billions of dollars. The President stressed the importance of protecting regions rich in minerals, such as the Dnipropetrovsk region.
He noted that Vladimir Putin plans to distribute the seized resources to allies, including North Korea and Iran. Zelensky emphasized that Ukraine does not intend to "give away" its resources but offers them on a mutually beneficial partnership basis to nations helping in the war against Russia.
Trump wants rare metals for helping Ukraine
Zelensky reiterated that Ukraine has the largest reserves of titanium and uranium in Europe. U.S. President Donald Trump recently suggested that Ukraine should ensure U.S. access to rare earth metals in exchange for continued military aid. Zelensky has already discussed with Trump the possibility of providing access to Ukrainian deposits in exchange for security guarantees.
Russia has seized over 80% of Ukraine's coal resources and 25% of its oil deposits but cannot use most of them. The war has devastated Donbas, one of Europe's most prosperous regions in terms of natural resources. The Russians have taken nearly 100% of the dolomite and carbonate mineral deposits, significantly impacting Ukraine's economy.
Experts warn that destabilization in the Donbas region could lead to rising resource prices, benefiting Moscow. Russia is leveraging the boom in energy resources to replenish its reserves.
Ukraine has approximately 20,000 mineral deposits and 117 different types of minerals, making it one of the richest regions in mineral resources. These resources could not only meet the needs of the Ukrainian economy but also enhance its export potential. Even Russia, despite its own resources, could benefit from Ukraine's as an additional supply source.
