Raw materials deal falls through This is how brazenly Trump wanted to cheat Zelenskyi
Volodymyr Zelensky brings Ukrainian raw materials into play with Donald Trump, and he strikes - but in a different way than Kiev thought: the offer was worse than the Versailles Treaty for the German Reich.
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- Volodymyr Zelensky himself has proposed a joint exploitation of Ukrainian raw materials with the USA - probably in the expectation of American protection.
- Ukraine has 22 of the 50 raw materials that the USA considers critical - including valuable substances such as lithium and titanium.
- A raw materials deal with the Biden administration was allegedly delayed in December in order to leave the deal to Trump.
- Trump surprised everyone in February by demanding the equivalent of 500 billion dollars in rare earths. It is soon increased to 50 percent of raw material revenues.
- The conservative Telegraph is outraged by the "economic colonization", which imposes a greater burden on Kiev than the Treaty of Versailles did for the German Reich after the First World War.
You could perhaps say that Volodymyr Zelensky himself is to blame. After all, it was the Ukrainian president who baited Donald Trump with the issue: When the 47-year-old peddled his so-called victory plan to the USA and Europe in October, one of the well-known points concerned the joint exploitation of Ukrainian raw materials.
One can speculate that Kiev was counting on the US President's business acumen - and wanted to invite America to show a presence in the war-torn country, which could deter Vladimir Putin from future attacks.
A closer look at the raw materials map shows that potentially lucrative mineral resources lie dormant in the Russian-occupied territories: In Donetsk, in addition to coal, potassium and mercury, there is also gold and graphite, which is important for heavy industry and armaments. In addition to iron and manganese, the Zaporizhzhya oblast is also home to rare earths.
In addition to rare earths, Kiev can also boast sought-after mineral resources such as tellurium, titanium, indium and lithium. Materials such as lead, beryllium, silver, uranium and zinc round off the supply.
"Donald Trump will make a deal"
Of the 50 raw materials that the USA classifies as critical, Ukraine offers Trump 22: "These minerals are essential for the production of vital goods - from airplanes, cell phones and electric vehicles to steel and nuclear power," writes the Washington Post. The New York Times (NYT) estimates the value of mineral resources at 11.5 trillion dollars. Other sources put the figure at 26 trillion.
In December, before Donald Trump's inauguration, Ukraine was still doing a lot to flatter the 78-year-old, according to the NYT. Politician Oleksandr Merezhko hopefully nominated him for the Nobel Peace Prize. His president then postpones the conclusion of an agreement on the joint exploitation of raw materials that was negotiated with the Biden administration: Selenskyj wants to let Trump make the deal.
Kiev's strategy is apparently paying off: "This war is about money - you don't talk about it much," Trump's party colleague Lindsey Graham tells "Fox News"."Donald Trump will make a deal to get our money back and enrich us with rare earths. A good deal for Ukraine and us, and he will bring peace."
"Maybe one day they will be Russian"
Things turn out differently than Selensky had hoped. Donald Trump dropped the bombshell in a Fox News interview on February 10: "I told them I wanted the equivalent of 500 billion dollars in rare earths, and they agreed in principle." After all, the USA had invested "more than 300 billion dollars" in Kiev.
Trump continued: "They may make a deal, they may not make a deal. Maybe one day they'll be Russian, or maybe one day they won't be Russian." This is not subtle. With a view to the money, he adds: "I want it back." And the 78-year-old goes on to emphasize that there has now been "enormous progress" towards a ceasefire.
It soon becomes clear that Washington has established contact with Moscow - and that Trump and Putin are getting closer. Selensky is offended: He has no choice at all, because he does not have the power to give Trump half of his sales of critical raw materials, as the US soon demands.
"Colonization of Ukraine, forever"
It is as if Washington were asking Switzerland to hand over half of its hydropower revenues without responding to operators such as Axpo Power, Kraftwerke Oberhasli or Kraftwerke Hinterrhein: The Ukrainian president has no choice but to "politely decline" Trump's offer, writes "Meduza".
The conservative "Telegraph " finds clear words for this process: the proposal borders on an "economic colonization of Ukraine by the USA, forever", marvels the British newspaper, which claims to have gained insight into the confidential document in question. The 50 percent would apply not only to current but also to all future licenses for the extraction of raw materials.
Furthermore, Kiev would have had to make advance payments - even if no money had yet been received. The USA would also have a right of veto over the recipients of the minerals. The demands went so far that they demanded a higher amount from the gross domestic product than the Allies would have done with the German Reich in the Treaty of Versailles.
The sum of over 300 billion dollars that is said to have been paid is also incorrect. 175 billion dollars had been approved, of which only 70 billion had been spent to date. And the realization that his commodity bait for Trump is backfiring comes to Zelensky at the same time as he is forced to recognize that Trump and Putin are negotiating peace without Ukraine sitting at the table.
Volodymyr Zelensky is not to be envied these days.
