Ukrainian President Volodymyr Zelenskyy has expressed his willingness to negotiate a "deal" with President Donald Trump, offering access to Ukraine's rare-earth mineral reserves in exchange for sustained US backing in the ongoing conflict. This revelation emerged during a recent interview with Reuters, ahead of Zelenskyy's scheduled meeting with Vice President JD Vance at the Munich Security Conference.

Zelenskyy emphasized his openness to finding a resolution to the three-year war with Russia, though the specifics of any peace agreement remain unclear. He has stressed the need for robust "guarantees" regarding Ukraine's future security, given Russia's past violations of the 1994 Budapest Memorandum. This agreement saw Ukraine relinquish its nuclear arsenal in exchange for assurances of sovereignty and independence from Russia, the US, and the UK.

Reuters reports that Zelenskyy initially proposed leveraging Ukraine's mineral resources, including a significant portion of rare-earth minerals located in Russian-held territory, as part of his "victory plan" presented to Western allies last fall. These materials are crucial for manufacturing electronics and electric vehicles. Zelenskyy has voiced concerns about Russia potentially supplying these resources to allies like North Korea and Iran.

While Trump won't be present at the Munich Security Conference, Zelenskyy plans to lead the Ukrainian delegation and is anticipated to meet with Vance and special envoy to Ukraine and Russia, retired Lt. Gen. Keith Kellogg. Following the conference, a potential meeting between Zelenskyy and Trump in Washington D.C. is on the cards to further discuss the conflict and the proposed mineral exchange.

Meanwhile, the conflict in eastern Ukraine persists, with Russia claiming the capture of Toretsk in the Donetsk region. Ukraine continues its own efforts to reclaim Russian-held territory, potentially aiming to strengthen its negotiating position in future ceasefire discussions. Zelenskyy also announced a renewed offensive in Russia's Kursk region, where Ukrainian incursions began in August 2024, alleging the presence of North Korean soldiers fighting alongside Russian troops.

Zelenskyy underscored the importance of maintaining strong front-line positions, emphasizing the link between military strength and diplomatic effectiveness in working with international partners.