US Treasury Secretary Bessent to visit Ukraine for talks on energy, rare earth minerals
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Secretary of the Treasury Scott Bessent will be the first Cabinet-level official in the Trump administration to visit Ukraine.
PHOTO: REUTERS
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WASHINGTON – US Treasury Secretary Scott Bessent will travel to Ukraine this week, US President Donald Trump wrote in a social media post on Feb 11, as the administration tries to end the Russia-Ukraine war and secure American access to Ukrainian natural resources.
Mr Bessent, who will be the first Cabinet-level official in Mr Trump’s administration to visit Ukraine, is set to discuss US access to Ukraine’s rare earth minerals, energy resources and energy assets, according to a source with direct knowledge of the matter.
The future of some of Ukraine’s state-owned enterprises will also be discussed, said the source, who spoke on condition of anonymity and did not provide additional details.
Both Ukrainian President Volodymyr Zelensky and Mr Trump have expressed interest in a pact that would give the US access to Ukraine’s rare earth resources
US National Security Adviser Mike Waltz said in a Feb 9 interview that Washington was also interested in obtaining access to Ukrainian oil and gas resources in exchange for supporting Ukraine’s war effort.
“We need to recoup those costs and that is going to be a partnership with the Ukrainians in terms of their rare earths, their natural resources and their oil and gas,” Mr Waltz said.
A number of other US officials are travelling to Europe this week, in part to discuss the Ukraine war with Kyiv and other European allies.
They include Secretary of State Marco Rubio, Vice-President J.D. Vance, Defence Secretary Pete Hegseth and Mr Keith Kellogg, the US envoy for the Ukraine war.
“The US has spent billions of dollars globally, with little to show,” Mr Trump wrote in a Truth Social post on Feb 11 announcing Mr Bessent’s planned visit.
Rare earths are metals used to make magnets that turn power into motion for electric vehicles, cellphones, missile systems and other electronics. There are no viable substitutes, and demand is widely expected to grow.
Reuters reported this week that the Trump administration plans to push European allies to buy more American weapons for Ukraine ahead of potential peace talks with Moscow. REUTERS
