Zelensky rejects US proposal for access to Ukraine's rare earth minerals

Ukrainian President Volodymyr Zelensky has rejected a U.S. proposal for access to Ukraine's rare earth minerals. He cited the deal's lack of security guarantees amid ongoing conflict with Russia as a key reason for the rejection. The proposal, presented by U.S. Treasury Secretary Scott Bessent, aimed to give American companies 50 percent ownership of Ukraine's mineral deposits. Zelensky argued that the agreement prioritized U.S. interests without addressing Ukraine's security needs. Zelensky's administration plans to draft a counterproposal that includes explicit security guarantees while allowing U.S. access to the minerals. Ukraine's rare earth resources remain a significant geopolitical asset as the country navigates its economic and security challenges.