Moscow has expressed willingness to collaborate with the United States on economic ventures, including energy projects and the mining of rare earth minerals. The announcement came after President Donald Trump revealed he was in “serious discussions” with Russia to end the war in Ukraine while pursuing “economic development deals,” highlighting Russia’s “massive rare earth” deposits.
Russian President Vladimir Putin confirmed Moscow’s readiness to work with American companies to mine rare earth minerals in Russia and Russian-occupied areas of Ukraine. “I want to stress that we certainly have much more of such resources than Ukraine,” Putin told state media correspondent Pavel Zarubin. “Russia is one of the leading countries when it comes to rare metal reserves. As for new territories, we are also ready to attract foreign partners—there are certain reserves there too.”
Putin also suggested that Russia could sell “about 2 million tons” of aluminum to the US if Washington lifts sanctions on Russian metals.
The comments came amid reports that Trump has demanded access to nearly half of Ukraine’s mineral resources in exchange for continued U.S. military aid. During a press conference with French President Emmanuel Macron, Trump emphasized his focus on striking deals. “I’ve spoken to President Putin, and my people are dealing with him constantly,” Trump said. “That’s what I do. I do deals. My whole life is deals. And I know when somebody wants to make it and when somebody doesn’t.”
Putin characterized Trump’s approach as “based not so much on emotions as on cold calculation, on a rational approach to the current situation.”
Kirill Dmitriev, Russia’s special envoy for investment and economic cooperation with foreign countries, echoed Putin’s sentiments. Speaking to CNN, Dmitriev highlighted Russia’s openness to economic partnerships with the U.S., especially in energy. “We are open for US-Russia economic cooperation and believe such cooperation is key for a more resilient global economy,” he said, though he provided no further details.
Dmitriev had attended discussions with U.S. officials in Saudi Arabia last week, signaling that talks on economic cooperation were already underway.
While Trump expressed optimism about reaching a deal with Russia, Ukraine has been clear about its demands. Kyiv seeks security guarantees from the US as part of any agreement—something Trump has so far declined to address directly.
When asked whether he trusted Putin, Trump responded, “I think it’s very much to Russia’s benefit to make a deal and to go on leading Russia in a very positive way. I really believe that he wants to make a deal. Maybe I’m wrong, but I believe he wants to make a deal.”
As Washington navigates delicate diplomacy with both Kyiv and Moscow, the balance between economic interests and geopolitical stability remains in sharp focus.
