Trump may offer Putin minerals access in exchange for peace, Telegraph reports
U.S. President Donald Trump is preparing to offer Russian President Vladimir Putin access to rare earth minerals and other economic incentives in an effort to end the war in Ukraine, The Telegraph reported on Aug. 13.
Trump is scheduled to meet with Putin in Anchorage, Alaska, on Aug. 15, where discussions are expected to focus on ending the war in Ukraine. According to The Telegraph, Trump plans to present a package of economic proposals aimed at incentivizing the Kremlin to agree to a ceasefire.
U.S. Treasury Secretary Scott Bessent and other senior administration officials are reportedly working closely with Trump to finalize the proposals ahead of the summit.
The proposal package reportedly involves granting Russia access to Alaska's natural resources and lifting certain U.S. sanctions on Russia's aviation sector, which has struggled under the weight of international sanctions.
Another key element of the proposals includes giving the Kremlin access to rare earth minerals in Ukrainian territories currently under Russian occupation.
Ukraine is one of the few European countries to have high deposits of lithium, holding one-third of the continent's reserves and approximately 3% of global lithium reserves, according to the Kyiv School of Economics.
In April, after months of negotiation, the U.S. and Ukraine signed a long-awaited minerals agreement that grants Washington access to Ukraine's significant mineral wealth.
In addition to Ukraine's minerals, Trump is reportedly considering allowing Russia to develop natural resources in the Bering Strait — the narrow stretch of water separating Alaska and Russia. The region is estimated to hold 13% of the world's oil reserves.
Russian access to the area would support Putin's ambitions in the Arctic, which accounted for 80% of Russia's gas output in 2022, according to The Telegraph.
Echoing those interests, top Putin adviser Yury Ushakov commented ahead of the meeting: "Incidentally, the economic interests of our countries intersect in Alaska and the Arctic, and there are prospects for implementing large-scale, mutually beneficial projects."
U.K. officials told The Telegraph that the proposed measures may be acceptable to European leaders — many of whom had expressed concerns over Ukraine's exclusion from the summit — as long as the proposals are not perceived as rewarding Russian aggression.
Earlier on Aug. 13, Trump held a video call with President Volodymyr Zelensky and European leaders, during which he emphasized that securing a ceasefire is the top priority of his upcoming meeting with Putin.
Although White House officials recently described the Alaska meeting as a "listening exercise" — attempting to downplay the importance of the meeting — the reported economic proposals suggest that the summit may be more consequential than the Trump administration has acknowledged.
