Washington and Moscow have begun discussions on projects related to Russian rare earth minerals, said Kirill Dmitriev, head of Russia's sovereign wealth fund, in an interview with the Russian newspaper Izvestia published on March 31.
The news comes as the Trump administration pushes for a swift ceasefire in Ukraine and explores venues for economic cooperation with Russia.
"Rare earth metals are an important area for cooperation, and, of course, we have begun discussions about various rare earth metals and projects in Russia," said Dmitriev, who also serves as presidential representative for economic cooperation with foreign countries.
Some companies have already demonstrated interest in the projects, the official claimed.
Dmitriev was one of Russia's negotiators during the Trump administration's first direct talks in Saudi Arabia in February.
The Feb. 18 talks were followed by two more rounds of discussions, with a meeting on March 24 focusing on a partial ceasefire in Ukraine. Dmitriev said that the next round would take place in mid-April and concern both political issues and economic cooperation.
Russian President Vladimir Putin said in February that Russia is open to working with the U.S. in developing rare earth deposits, including in the occupied parts of Ukraine, which Putin called "newly controlled regions."
U.S. President Donald Trump has also pushed for a deal on natural resources with Ukraine, though multiple sources indicated that its latest iteration imposes harsh conditions on Kyiv and would potentially endanger its EU accession efforts.
U.S. President Donald Trump said on March 30 that Ukraine's President Volodymyr Zelensky is looking to back out of a critical minerals agreement, warning him of "big, big problems" if he does so.
The Kyiv Independent news desk
