-Analysis-
PARIS — “Transactional” — it’s the word most often used to describe Donald Trump. And here, we have a textbook example. The U.S. president suggested that Ukraine could provide economic backing for the money and weapons it receives from the United States with its precious metals — the coveted rare-earth elements.
The idea caught many off guard. Washington is usually heard justifying aid to Ukraine in the name of values, freedom and resistance against Russian aggression. But that doesn’t fly with Donald Trump — he’s blunt. To him, everything has a price, even the fight for freedom.
For the latest news & views from every corner of the world, Worldcrunch Today is the only truly international newsletter. Sign up here.
It’s such a quintessentially “Trumpian” deal that German Chancellor Olaf Scholz slammed it as “selfish.” That was before he found out it had actually been proposed to the American president by none other than Ukrainian leader Volodymyr Zelensky.
According to the online newspaper Kyiv Independent, the idea is even part of Zelensky’s “victory plan,” which he has presented to allies, including the United States. And just yesterday, the Ukrainian president expressed his willingness to welcome American mining investments.
Zelensky’s play
President Zelensky has been pulling out all the stops to counter the anti-Ukraine rhetoric pushed by Donald Trump and his inner circle during the election campaign. The Republican candidate vowed to resolve the conflict within 24 hours by bringing Zelensky and Putin to the table, while his running mate, J.D. Vance, bluntly stated that he couldn’t care less about Ukraine’s fate.
Zelensky played the transactional game
So, Volodymyr Zelensky played the transactional game — and it worked. “We’re putting in hundreds of billions of dollars,” President Trump said Tuesday. (A bit of an exaggeration — the actual figure is closer to billion since February 2022 — but that’s beside the point.)
He then added, “They have great rare earth. And I want security of the rare earth, and they’re willing to do it.” End of quote.
Rare earth minerals are the key resources the U.S. needs to break free from its reliance on China, which currently dominates the global market.
Zelensky’s goal is clear: to ensure that Ukraine continues to receive U.S. aid. Moreover, a Ukrainian source quoted in the Kyiv press points out that such an agreement would inevitably require security guarantees for Ukraine, to prevent its mineral deposits from falling into Russian hands.
The bottom line
We’re in the middle of a paradox, as this public exchange between Trump and Zelensky suggests, indirectly, that Washington is willing to continue its aid to Ukraine as long as it “pays off.” This may seem shocking, but from Ukraine’s perspective, the bottom line is that the result matters.
Ukraine, which feared being abandoned mid-campaign as soon as Trump entered the White House, has gained a reprieve, and perhaps the ability to shift the balance of power in its favor before inevitably entering negotiations — something Zelensky declared himself ready for yesterday. The Kremlin’s response: “It would be better if this American aid weren’t provided at all.”
Nothing is certain at this stage, especially with Russia’s ongoing territorial gains and missiles relentlessly hitting Ukrainian cities. But, if it isn’t seen as an ally by the U.S. president, Ukraine might find its salvation in being the “client” of a truly transactional head of state.
