In a surprise move that could potentially reshape the global geopolitical landscape, Russian President Vladimir Putin has extended an extraordinary offer to the United States: access to rare and highly sought-after minerals from both Russia and Ukraine. This unexpected overture comes at a time of heightened tensions between Moscow and the West on the Russian Invasion of Ukraine, and raises intriguing questions about Putin’s motivations and the potential implications for international relations, global trade, and the balance of power.

Vladimir Putin, the Russian President has expressed willingness to grant the United States access to rare minerals, including those from Russian-occupied regions of Ukraine.

Meanwhile, a Ukrainian minister revealed that a deal is being finalized after US President Donald Trump repeatedly urged Ukraine to relinquish some of its mineral resources in exchange for support.

In a state TV interview on Monday, Russian President Vladimir Putin expressed willingness to “offer” resources to American partners for joint projects, including mining in Russia’s “new territories” — a term he used to describe parts of eastern Ukraine occupied since the full-scale invasion began three years ago.

He added that the proposal could also involve collaboration on aluminum extraction and supply to the US to help stabilize prices.

In a state TV interview on Monday, Russian President Vladimir Putin said he was willing to offer resources to American partners for joint projects, including mining in Russian-occupied eastern Ukraine.

He added that the proposal could extend to aluminum extraction and supply to the US to help stabilize prices.

In a televised interview, Russian President Vladimir Putin responded to Trump’s efforts to access Ukraine’s mineral deposits, stating that Russia was open to working with “foreign partners,” including companies, on mineral extraction.

Putin dismissed concerns over a potential US-Ukraine deal on rare minerals, asserting that Russia has “significantly more resources of this kind than Ukraine.”

“As for the new territories, it’s the same. We are ready to welcome foreign partners to our historical territories that have returned to the Russian Federation,” he stated.

He also proposed that Russia and the US collaborate on aluminum production in Krasnoyarsk, Siberia, home to Rusal’s largest smelters.

His televised remarks came after a cabinet meeting on Russia’s natural resources.

On Tuesday, Kremlin spokesman Dmitry Peskov told journalists that the proposal offered “quite broad prospects,” noting that the US needed rare earth minerals while Russia had them in abundance.

Putin’s offer to grant the US access to Russia’s minerals is striking, considering the Kremlin’s longstanding emphasis on keeping the country’s natural wealth under national control. In 2023, Putin accused the West — especially the US — of seeking to break up Russia to exploit its resources.

Putin’s move comes as Ukraine faces mounting pressure from the Trump administration to agree to a deal granting access to its mineral deposits.

Kyiv estimates that Ukraine holds around 5% of the world’s critical raw materials, though some of these deposits have fallen under Russian control since the invasion began three years ago.

Trump said earlier this month that the US military and economic aid to Ukraine amounted to about $500bn (£396bn), and he wants the US to have access to Ukrainian minerals of that value.

Zelenzky has disputed that figure and is also said to want any deal to include security guarantees.

Ukraine’s Deputy Prime Minister for European and Euro-Atlantic Integration, Olga Stefanishyna, on Monday said negotiations on the deal had been “very constructive,” with most key details nearly finalized.

Meanwhile, the European Union has taken a different approach, proposing a partnership with Ukraine for access to its minerals — a move European Commissioner for Industrial Strategy Stéphane Séjourné described as a “win-win.”