Ukraine appears set to sign a deal that gives the United States access to its mineral supply in exchange for continued military aid.
A Ukrainian government source told Sky News that Kyiv has agreed its terms with Washington.
Mr Trump told reporters on Tuesday that the mineral fund means US taxpayers will “get their money back and then some” for three years of providing weapons against Russia.
The idea of a deal first emerged in September. With concerns swirling Mr Trump would withdraw support if elected, Ukrainian President Volodymyr Zelenskyy reportedly suggested it during a meeting at Trump Tower.
The imminent signing of the deal comes amid strained US-Ukrainian relations since Mr Trump’s return to the White House, with the president branding Mr Zelenskyy a “dictator” and excluding Ukraine from negotiations with Russia.
Here we look at Ukraine’s mineral supply – and why the US wants access to it.
Image: Donald Trump meets Volodymyr Zelenskyy at Trump Tower in September 2024. Pic: AP
Which minerals does Ukraine have?
Before Russia’s invasion in February 2022, minerals made up 6.1% of Ukraine’s GDP (gross domestic product) and 30% of its exports.
It is home to various ‘critical’ minerals, so called for their use in technology manufacturing, defence systems, and green energy, with examples including copper, nickel, lithium, and titanium.
According to the European Commission, in 2019 Ukraine supplied 7% of global titanium, which is used for building nuclear power plants and planes.
Similarly, it is believed to have more lithium (used to make batteries) than any other European country – a suspected 500,000 tonnes.
Before Russia’s invasion, it was also responsible for a fifth of global graphite, which is a key material for nuclear power stations and electric vehicle batteries.
Other raw materials in good supply include coal, iron ore, and manganese.
Image: A titanium plant in Armyansk, Crimea. File pic: Reuters
Pre-war figures are the most reliable, as up to 40% of Ukrainian metallic minerals are now in areas occupied by Russia – namely the Donbas and neighbouring eastern regions.
For example, two of Ukraine’s lithium deposits are under Russian control – Zaporizhzhia and Donetsk.
Image: A graphite pit in Zavallia, Ukraine. Pic: Reuters
Rare earth elements
Rare earth elements (REE) are a group of 17 exotic minerals used to make everything from smartphones and electronic devices, to electric vehicles, wind turbines, and weapons systems.
Examples include europium, a material for control rods at nuclear power plants, and gadolinium, used to make the magnets inside mobile phones – as well as holmium, ytterbium, and dysprosium.
They are not strictly rare – but their extraction and storage are highly energy-intensive.
With the details of war-torn Ukraine’s mineral supplies uncertain – it is not clear which REEs are present there and how much there are of them.
But in a pre-war assessment of 109 critical mineral deposits across the country by the Kyiv School of Economics, three were reported to contain REEs.
Ukrainian mineral data, seen by Reuters, has also cited cerium, neodymium, erbium, yttrium, and lanthanum.
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Donald Trump has not been clear about which minerals he wants from Ukraine, although he referred to the agreement as a “deal on rare earths” on Tuesday.
But what is far more certain is the role China has to play in Mr Trump’s demands.
As the biggest manufacturer in the world, China processes more REEs than any other country – with its deposits representing between 50% and 75% of global supply, according to estimates.
As a result, both the US and Europe are trying to reduce their dependency on Beijing.
Image: A chinese rare earth smelting plant spews polluted water
In December as Mr Trump prepared to return to office, China banned the export of some REEs to the US. Under Joe Biden’s administration, it had already restricted its US mineral exports.
In response on 1 February, the Trump administration announced 10% tariffs on all Chinese imports.
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2:02
Why did China restrict mineral exports last year?
Beyond the trade war with China, REEs and critical minerals are fundamental to the global green energy transition.
According to the World Meteorological Organisation, to meet net-zero targets by 2030, we will need three times as much copper, lithium, nickel, and cobalt.
This will mean a further 50 lithium, 60 nickel, and 17 cobalt mines globally.
This – along with reported perks such as meals sent to her dormitory room, late-night workouts and permission to shower when other inmates are in bed – have led some critics to claim she is receiving “VIP treatment”.
Image: Maxwell is now serving her sentence at Federal Prison Camp Bryan in Texas. AP file pic
Describing conditions at Federal Prison Camp Bryan, Maxwell wrote to a relative: “The food is legions better, the place is clean, the staff polite… I haven’t heard or seen the usual foul language or screaming accompanied by threats levelled by inmates by anyone.
“I have not seen a single fight, drug deal, passed out person or naked inmate running around or several of them congregating in a shower! In other words, I feel like I have dropped through Alice in Wonderland’s looking glass.”
Some of Maxwell’s new inmates have told The Wall Street Journal that they have been threatened with retaliation if they speak about her to the media – with reports suggesting at least one was transferred.
Image: Ghislaine Maxwell
Her lawyer David Oscar Markus told NBC News: “There’s nothing journalistic about publishing a prisoner’s private emails, including ones with her lawyers. That’s tabloid behaviour, not responsible reporting.
“Anyone still interested in that kind of gossip reveals far more about themselves than about Ghislaine. It’s time to get over the fact that she is in a safer facility. We should want that for everyone.”
Meanwhile, Maxwell’s brother Ian said their messages were ” private by their very nature” – and if they were sent to a reporter, “they were stolen and leaked without authorisation”.
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2:03
‘I don’t believe Epstein died by suicide’ – Maxwell
Federal Prison Camp Bryan is located in a residential area, ringed with barbed wire and houses about 635 prisoners – and Maxwell’s arrival over the summer sparked protests.
One demonstrator said back in August: “It’s brought a lot of attention to our town that we haven’t consented for. We don’t want a child sex trafficker here.”
Mr Trump told reporters at the time that he was planning to speak to the Justice Department and “would have to take a look” at whether he would consider clemency.
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1:47
Congress calls Andrew: New repercussions for royals?
Epstein died by suicide while awaiting trial on sex trafficking charges back in 2019, but pressure remains on those who had connections to the disgraced financier.
Earlier this week, the US Congress wrote to Andrew Mountbatten Windsor – who has now been stripped of his royal titles by the King – requesting an interview about his “long-standing friendship” with Epstein.
US officials have issued an emergency order banning flights of the model of plane involved in a deadly crash in Kentucky last week, pending inspection.
The Federal Aviation Administration (FAA) issued the Emergency Airworthiness Directive (AD) for McDonnell Douglas MD-11 aircraft after a UPS plane bound for Honolulu crashed on take-off in Louisville on Tuesday evening, killing 14 people. The victims included three pilots.
The FAA said the order, which came following a recommendation by its manufacturer Boeing, was prompted after “an accident where the left-hand engine and pylon detached from the airplane”.
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1:55
Fire and debris after fatal cargo plane crash
A spokesperson for the authority added: “The cause of the detachment is currently under investigation. This condition could result in the loss of continued safe flight and landing.
“The FAA is issuing this AD because the agency has determined the unsafe condition is likely to exist or develop in other products of the same type design.
“The AD prohibits further flight until the airplane is inspected and all applicable corrective actions are performed.”
The MD-11 was first manufactured by McDonnell Douglas in 1988, until its merger with Boeing in 1997.
Image: A UPS MD11 landing at Philadelphia airport in March 2025. Pic: Wikipedia/Hamproductions
It was once used by commercial airlines, including Finnair and KLM, as a passenger jet, but was retired in 2014, and is now used only as a freight plane.
Government shutdown impacts commercial flights
It came as more than 1,300 commercial flights were cancelled in the US on Saturday because of an FAA order, unrelated to the Kentucky crash, to reduce air traffic amid the ongoing government shutdown.
The deadlock in Washington has resulted in shortages of air traffic control staff, who have not been paid for weeks.
Officials have warned that the number of daily cancellations could rise in the coming days unless the political row is resolved.
Hungary has been given a one-year exemption from US sanctions on using Russian energy, a White House official has said, after its Prime Minister Viktor Orban met with Donald Trump in the White House.
Mr Orban succeeded in convincing the US president to allow Hungary to continue importing Russian oil and gas without being subject to the sanctions Mr Trump‘s administration had placed on Russian fossil fuels.
Hungary has been under heavy pressure from the European Union to end its reliance on Russian energy.
The EU has mostly heavily cut or ceased its imports of Russian oil and gas.
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2:08
Will US sanctions on Russian oil hurt the Kremlin?
Mr Orban, the country’s nationalist leader and a long-time ally of Mr Trump, has described access to Russian energy as a “vital” issue for his landlocked country.
He said he planned to discuss with Mr Trump the “consequences for the Hungarian people” if the sanctions came into effect.
Speaking at a news conference after his talks with Mr Trump, Mr Orban said Hungary had “been granted a complete exemption from sanctions” affecting Russian gas delivered to Hungary from the TurkStream pipeline and oil from the Druzhba pipeline.
“We asked the president to lift the sanctions,” Mr Orban said. “We agreed and the president decided, and he said that the sanctions will not be applied to these two pipelines.”
Mr Trump appeared to be sympathetic to Mr Orban’s pleas.
“We’re looking at it, because it’s very different for him to get the oil and gas from other areas,” he said.
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2:43
Why did Trump sanction Russian oil?
“As you know, they don’t have … the advantage of having sea. It’s a great country, it’s a big country, but they don’t have sea. They don’t have the ports.”
He added: “But many European countries are buying oil and gas from Russia, and they have been for years. And I said, ‘What’s that all about?'”
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0:47
Putin: US sanctions are an ‘unfriendly act’
Orban says ‘miracle can happen’ in Ukraine war
Mr Trump and Mr Orban also discussed the war in Ukraine, with the US president saying: “The basic dispute is they just don’t want to stop yet. And I think they will.”
The president asked Mr Orban if he thought Ukraine could win the war, with the prime minister saying a “miracle can happen”.
Hungary reliant on Russian gas and oil
As part of the discussions, Hungary agreed to buy US liquefied natural gas (LNG), the US state department said, noting contracts were expected to be worth around $600m (£455m).
The two nations also agreed to work together on nuclear energy, including small modular reactors.
Mr Orban also said Hungary will also purchase nuclear fuel from the US-based Westinghouse Electric Company to power its Paks nuclear plant, which has until now relied on Russian-supplied nuclear fuel.
International Monetary Fund figures show Hungary relied on Russia for 74% of its gas and 86% of its oil last year. It warned an EU-wide cutoff of Russian natural gas could result in output losses in Hungary exceeding 4% of its GDP.