Ukraine eyes $26 trillion resource pact amid Trump speculations
Ukraine has prepared two points in a "victory plan" in its war with Russia, with an eye on Donald Trump's potential win in the U.S. elections, reported Britain's "Financial Times" on Tuesday. One of the points involves sharing Ukraine's natural resources, valued at an estimated $26 trillion.
According to the newspaper, Ukraine's "victory plan" consists of two points. The first involves the presence of U.S. military forces in Europe, which could be partially replaced by the experienced Ukrainian army after the end of the Russian invasion.
The second point concerns resources. Kyiv would share its resources with Western partners. According to the "FT," this proposal was supported by Republican Senator Lindsey Graham. His office did not comment on these reports. In 2016, Graham received the Order of Prince Yaroslav the Wise from the then-President of Ukraine.
Ukrainian "white gold"
- Zelensky's victory plan was evidently written with Trump and the Republicans in mind. There are two winks to Trump there, emphasized Dr. Daniel Szeligowski from the Polish Institute of International Affairs in a conversation with Wirtualna Polska.
The expert explained that Zelensky promises a joint exploitation of natural resources in Ukraine, which are needed by Americans in their rivalry with China. Ukrainian land is rich in resources. The Union of Entrepreneurs and Employers (ZPP) estimated that 21 out of 34 critical elements, identified this way by the European Union, are present beyond our eastern border. Simultaneously, 117 out of 120 globally used materials are mined. According to ZPP, citing World Bank data, global demand for rare earth metals is projected to increase by 500% by 2050. One of the most valuable rare earth metals is lithium, which is used in the production of batteries for electric vehicles. Lithium is key in the development of electromobility.
Ukraine holds four lithium deposits, which are said to contain a total of 500,000 metric tonnes of the resource. The deposits are not being exploited due to financial and security reasons. One of the deposits, Kruta Balka, is located in the occupied Zaporizhzhia region, and another is near the frontline. Two additional deposits are located closer to the centre of the country, yet they are within reach of Russian missiles. Moreover, the lithium itself is said to be as deep as 300 metres underground, which would require significant financial investments for extraction.
Ukrainian natural resources could be extremely important for the USA: scientists from the Dnipro University of Technology calculated that up to 12 kilograms of lithium is used in a standard hybrid vehicle, and from 22 to even 50 kilograms of the resource is used in the production of fully electric Tesla vehicles.
The "New York Times" cites 2022 data from Canadian consulting firm SecDev, which estimated the total value of all Ukraine's mineral resources - including titanium, graphite, and lithium - at $26 trillion, including coal, gas, and oil.
