US Treasury Secretary Scott Bessent will travel to Ukraine this week, announced President Donald Trump in a social media post on Tuesday. The visit aims to help end the Russia-Ukraine conflict and secure access to Ukrainian natural resources.
Bessent will be the first high-ranking official from Trump's administration to visit Ukraine. The discussions will center on US access to Ukraine's rare earth minerals, energy resources, and energy assets, according to a source familiar with the matter who spoke on condition of anonymity.
Trump and Bessent have shown interest in a potential deal where the US would receive rare earth minerals from Ukraine in return for ongoing support against Russia. National Security Adviser Mike Waltz also mentioned the US's interest in gaining access to Ukrainian oil and gas resources to support Ukraine's war efforts.
In addition to Bessent, other US officials traveling to Europe this week to discuss the Ukraine conflict include Secretary of State Marco Rubio, Vice President JD Vance, Defense Secretary Pete Hegseth, and Keith Kellogg, the US special envoy for Ukraine.
Trump highlighted the significance of the partnership with Ukraine regarding rare earth minerals and other natural resources to offset costs incurred by the US globally.
Rare earth minerals are crucial for manufacturing magnets used in various applications like electric vehicles, cell phones, missile systems, and electronics, with increasing demand anticipated globally.
Moreover, the Trump administration is reportedly planning to increase the purchase of American weapons for Ukraine in preparation for potential peace negotiations with Moscow.