Russian officials continue efforts to undermine the proposed US-Ukrainian mineral deal by promoting potential US-Russian rare earth mining projects.
Kremlin Spokesperson Dmitry Peskov claimed on March 31 that US companies are interested in joint rare earth metals mining projects with Russia and that these projects are the first step to improving bilateral relations, although the United States and Russia have not yet signed any documents concerning rare earth metals.
Russian Direct Investment Fund (RDIF) CEO Kirill Dmitriev told Kremlin-affiliated outlet Izvestia on March 31 that Russian and US officials have started discussions about joint rare earth mineral projects.
Dmitriev also told the BBC’s Russian Service on March 30 that US-Russian economic cooperation should be a primary focus if the United States wants to end the war in Ukraine but that such cooperation would only begin after the conclusion of peace negotiations.
The Kremlin is attempting to undermine the Trump administration’s objectives of linking US and Ukrainian economic interests through the US-Ukraine mineral deal by presenting Russia as a rare earth commodities trader superior to Ukraine. The Trump administration seeks to use the US-Ukrainian deal to establish concrete US economic interests in Ukraine as part of US efforts to transition Ukraine from solely a military aid recipient to also an economic partner.
The kind of economic cooperation that Russia seeks with the United States would not deter Russia from invading Ukraine again in the future and will fail to advance the Trump administration's objectives of economically linking the US and Ukraine. Such cooperation would also accelerate Russian military reconstitution faster than it would otherwise. Russia’s access to minerals in occupied Ukraine will likely augment the People's Republic of China's (PRC's) ability to access Ukraine’s minerals. Russia has notably partnered with the PRC to extract Russian rare earth commodities since at least 2005.
Russian companies are also involved in current and potential deposit exploration projects in various African countries.
ISW continues to assess that Russia is using economic incentives that are unrelated to the war in Ukraine to extract concessions from the United States about the war in Ukraine.
These concessions would give away leverage that is crucial to US President Donald Trump’s stated objective of achieving an enduring and mutually beneficial peace in Ukraine.
