Ukrainians strongly reject Trump’s demand for $500bn share of mineral resources, viewing it as economic blackmail

In an unexpected move, U.S. Treasury Secretary Scott Bessent, during a visit to Kyiv in February 2025, presented a demand to Ukrainian President Volodymyr Zelenskyy for half of Ukraine's vast natural resources, including oil, gas, and critical minerals like lithium, worth an estimated $500 billion. The U.S. justification for this claim was framed as "payback" for the billions in military aid provided to Ukraine since Russia's invasion. This proposal is seen as an aggressive attempt to control Ukraine’s mineral wealth, which includes one of Europe’s largest lithium deposits. President Zelenskyy firmly rejected the demand, stating that Ukraine would not be "sold away," and emphasized that security guarantees were a necessary precondition for any future resource deals.

The reaction to Trump’s demand has been swift and overwhelming within Ukraine, with many labeling the U.S. proposal as an act of blackmail. Local leaders, including Tetiana Slyvenko, a Ukrainian administrator, expressed outrage, comparing the demand to colonial exploitation of the past, likening it to the historical treatment of Native Americans. In the rural village of Liodiane, where part of Ukraine's lithium deposits are located, residents voiced their concerns that the proposal would deprive them of their economic potential. Many Ukrainians see it as an unfair exploitation of their resources in a time of war when their survival and independence are at stake.

Ukraine’s mineral reserves, valued at an estimated $14.8 trillion, are vast and diverse, ranging from titanium and uranium to coal and rare earth elements. One of the most valuable assets in Ukraine’s mineral wealth is its lithium deposits, which are crucial for producing batteries for electric vehicles and mobile phones. These deposits, particularly in the Kirovohrad region, are some of the largest in Europe and have become a focal point for foreign investors, including the U.S., which has expressed keen interest in securing control over these resources. Despite this, local stakeholders such as Denys Alyoshin, a representative of UkrLithiumMining, emphasized the need for long-term, lawful partnerships, with plans to develop the lithium mine once the war with Russia ends. However, the current political and military instability makes this challenging.

The global demand for lithium, a critical component for battery production, has placed countries like Ukraine in the crosshairs of powerful nations seeking to secure future supplies. With global mineral reserves dwindling, Ukraine’s lithium deposits have become a valuable asset in the global transition to green energy. However, Ukraine’s leadership is faced with a delicate balancing act: securing international investment and support without sacrificing sovereignty. The conflict with Russia has already disrupted parts of Ukraine’s mining industry, with some valuable mineral-rich regions under Russian occupation. As a result, while foreign investments are critical, Ukrainian leaders are resolute in protecting their national interests, ensuring that any foreign involvement is based on mutual respect and international law. The threat of further exploitation by powerful foreign actors like the U.S. raises questions about Ukraine’s ability to retain control over its resources as it continues to fight for its independence.