"It would be selfish": Scholz rejects Trump's proposal to exchange military aid for Ukraine's rare earth elements
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German Chancellor Olaf Scholz did not support the idea of US President Donald Trump providing military aid to Ukraine in exchange for its rare earth elements.
He stated this during a speech after an informal EU defense summit in Brussels the day before. The N-TV channel reported the German politician's words.
"These country resources should be used to finance everything needed after the war. It would be very selfish and egocentric to demand resources to finance defense support," the German Chancellor noted.
He criticized Donald Trump's demand that Ukraine deliver rare earth metals to the US in exchange for continued support.
"In the future, Ukraine will need a strong army and financing for the reconstruction of the country. These are big tasks, considering the enormous destruction that is taking place in Ukraine.
And that is why I think it would be better if Ukraine used its resources to build its better future," Scholz believes.
It should be noted that the day before, US President Donald Trump said that he wanted to conclude an agreement with Kyiv under which Ukraine would supply the United States with rare earth minerals needed for electronics in exchange for American aid.
In a recent statement, President Trump expressed his belief that Europe is falling behind in its support for Ukraine despite its geographical proximity. He emphasized that Europe shares a direct border, unlike the United States, which is separated from Ukraine by an ocean. Consequently, President Trump asserted that Europe should, at a minimum, contribute an amount equal to the assistance provided by the United States.
"We're looking to do a deal with Ukraine, where they're going to secure what we're giving them with their rare earths and other things," Trump added.
For reference:
Ukraine has rare natural resources, including graphite, uranium, titanium, and lithium.
He noted that these are natural resources and critically important metals worth trillions of US dollars. The Ukrainian head of state emphasized these include uranium, titanium, lithium, graphite, and other strategically valuable resources that are a significant advantage in global competition.
As the Financial Times wrote, this item was actually developed for Trump and was supposed to interest him.
- What are rare earth elements?
This is a group of 17 chemical elements, 14 of which belong to the lanthanides, and the other three have similar properties. Despite their names, some elements, such as cerium and neodymium, are common in the earth's crust. Still, due to their dispersal and difficulty in extraction, they are considered "rare."
Rare earth elements are important for high-tech industries. They are used in electronics, magnets, batteries, military equipment, lasers, and glass production, among other things.
Ukraine has significant reserves of rare earth elements within the Ukrainian Crystal Shield. However, the Azov rare earth deposit in the Nikolsky district of the Donetsk region has fallen into occupation.
According to Forbes' estimate for 2023, the total value of minerals in Ukraine will reach $15 trillion. At the same time, more than 70% of the total amount will fall to just three regions: Donetsk, Dnipropetrovsk, and Luhansk.
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