U.S. Treasury Secretary Scott Bessent arrived in Kyiv on February 12, becoming the first Trump administration cabinet official to visit Ukraine. His visit is focused on negotiating agreements on strategic minerals, energy resources, and state-owned enterprises, as the Trump administration signals growing interest in Ukraine’s rare earth minerals.
Key Focus: Rare Earths & Energy Storage
A U.S. government source told Reuters that one of the key topics is using Ukraine’s vast underground storage facilities to hold natural gas supplies from the U.S. for European markets. This could strengthen U.S. economic and security interests in Ukraine while ensuring a stable energy supply for Europe.
Bessent’s visit follows Trump’s recent push for a rare earth minerals deal with Ukraine. The U.S. president has proposed that future American aid to Ukraine be contingent on Kyiv handing over $500 billion worth of rare earth elements. These materials are critical for high-tech industries, including smartphones, electric vehicle batteries, and military equipment.
While Ukraine's President Volodymyr Zelensky has encouraged U.S. investment in his country’s rare earth sector, he has emphasized that any agreement must be mutually beneficial.
U.S. Defense and Diplomatic Engagements
The Ukraine Defense Contact Group, originally established under former President Joe Biden, also met on February 12 for the first time since Trump’s return to office. The meeting included U.S. Defense Secretary Pete Hegseth, signaling Washington's ongoing military support for Kyiv.
Meanwhile, Vice President J.D. Vance is set to meet Zelensky this weekend at the Munich Security Conference in Germany. Trump’s special envoy for Russia and Ukraine, Keith Kellogg, will also attend the event.
Trump-Zelensky Talks on the Horizon
Over the weekend, Trump confirmed he plans to speak with Zelensky this week, though no date has been set. The Ukrainian leader has said his team is working to arrange a direct meeting with Trump before any potential talks between the U.S. and Russian President Vladimir Putin.
(Sources: Reuters, AFP)
