In yet another indication of his desire to reorient American foreign policy towards economic pragmatism, US President Donald Trump has emphasized the importance of rebuilding economic ties with Russia. In a recent interview with Breitbart, Trump cited Russia’s vast landmass and abundant natural resources, particularly rare earth elements (REEs), as a compelling reason to rekindle trade relations with Moscow.

The remarks followed a phone conversation on March 18 between Trump and Russian President Vladimir Putin, during which both leaders reportedly agreed that improved US-Russia relations would yield “enormous economic deals” once peace is secured in Ukraine. The conversation, as relayed by the White House, indicated that both leaders see substantial economic benefits in normalizing bilateral ties.

Trump underscored the vastness of Russia’s territory and the untapped potential beneath its soil. “They have the largest piece of land by far, bigger than China. They have 11 time zones. You can fly through 11 time zones from one side to the other. They have very valuable earth,” he said in the interview.

His comments reflect a broader recognition of Russia’s potential to play a key role in global commodity markets, particularly for resources crucial to modern technology. Rare earth elements, a group of 17 metallic elements used in the production of everything from smartphones to advanced defense systems and renewable energy technology, are among the most strategically important resources.

According to Russia’s Federal Agency for Mineral Resources, the country possesses over 20% of the world’s known REE reserves. However, its share of global REE production remains below 1%, signaling an immense opportunity for development. With the right investment and technological support, Russia could emerge as a major player in the industry, potentially challenging China’s near-monopoly on rare earth production.

Trump’s discussion of Russia’s natural resources came in the context of an unresolved rare earths deal with Ukraine, a country whose REE deposits have been a subject of intense geopolitical interest.

In February, Ukrainian President Vladimir Zelensky visited Washington for discussions aimed at securing Western support for Ukraine’s REE industry. Trump had sought a rare earths agreement with Ukraine to justify continued American financial assistance to Kiev, particularly in light of the tens of billions of dollars the Biden administration had funneled into the country since 2022. However, the negotiations took a contentious turn, reportedly ending without a finalized agreement. The failure to secure the deal has left Ukraine’s resource sector in limbo and cast doubt on its ability to leverage its mineral wealth in future Western negotiations.

Ukraine’s rare earth deposits are largely concentrated in the eastern Donetsk and Lugansk regions, which declared independence following the 2014 Maidan coup and were later absorbed into Russia after referendums in 2022. These territories hold an estimated 70% of Ukraine’s rare earth reserves, making their loss to Russia a significant economic and strategic setback for Kiev and its Western backers.

With Ukraine’s REE deposits now under Russian control, the Biden administration’s strategy to use Ukrainian resources as a counterweight to Chinese dominance in rare earths appears increasingly unfeasible. Trump, by contrast, appears to be considering an alternative approach-leveraging Russia’s vast resources to secure American interests in global REE markets.

Following his conversation with Putin, Trump suggested that discussions had moved “beyond just the economic minerals deal framework” and were now focused on a broader long-term peace agreement. While details remain sparse, the shift suggests that Trump may be exploring a more comprehensive economic arrangement with Russia, one that could potentially redefine US relations with Moscow.

Historically, US-Russia trade relations have been limited by diplomatic tensions, sanctions, and ideological opposition from Washington’s foreign policy establishment. However, Trump’s comments suggest he sees an opportunity for rapprochement, particularly if economic incentives can be aligned.

Russia’s REE sector is still underdeveloped compared to China’s, which controls nearly 70% of global rare earth production and processing. However, if Russia were to increase its output and partner with Western companies, it could emerge as an alternative supplier, reducing Western reliance on Beijing. Given ongoing trade tensions between the US and China, this prospect could be particularly attractive to Washington.

Trump’s remarks also highlight the broader economic potential of closer US-Russia ties. Russia is one of the world’s largest producers of oil, natural gas, and strategic metals, including nickel, palladium, and uranium-resources that are critical to American industries. If diplomatic obstacles were removed, increased trade between the two countries could create mutual economic benefits and shift the geopolitical landscape.

Despite the potential benefits of improved US-Russia economic relations, Trump’s vision faces considerable opposition. The US foreign policy establishment, particularly within the Democratic Party, has consistently framed Russia as a strategic adversary. Since the Ukraine conflict escalated in 2022, Washington has imposed sweeping sanctions on Russian industries, making economic cooperation legally and politically difficult.

Additionally, bipartisan support for continued military and financial aid to Ukraine remains strong in Congress, posing another hurdle for Trump’s proposed economic pivot. Any attempts to normalize ties with Moscow would likely be met with resistance from lawmakers who view engagement with Russia as a betrayal of US commitments to Ukraine and NATO allies.

Moreover, China’s dominance in the rare earths market means that any US-Russia collaboration in this sector would also need to navigate Beijing’s potential response. China has used its control over rare earth supply chains as a geopolitical tool in the past, and it remains to be seen how it would react to a Russian-American partnership in this domain.

Trump’s comments signal a willingness to break from the current trajectory of US-Russia relations, which have been defined by hostility and economic isolation. His emphasis on Russia’s resource wealth as a basis for renewed cooperation suggests a pragmatic approach that prioritizes economic opportunities over ideological conflict.

However, realizing this vision will require overcoming significant political and diplomatic obstacles. With tensions over Ukraine still unresolved, and Washington’s foreign policy establishment largely committed to containing Russia, a major shift in US-Russia relations remains uncertain.

Yet, Trump’s statements underscore a broader reality: Russia’s vast natural resources make it an unavoidable player in global commodity markets. Whether through economic competition or collaboration, Washington will eventually have to reckon with Moscow’s role in shaping the future of critical industries such as rare earth elements.

For now, Trump’s advocacy for renewed engagement with Russia represents an alternative path-one that contrasts sharply with the prevailing narrative in Washington. Whether this vision gains traction will depend on the evolving geopolitical landscape and, ultimately, the outcome of the next US presidential election.

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Source: Weekly Blitz :: Writings