US Treasury Secretary to Visit Ukraine for Talks on Critical Minerals, Bloomberg Reports

US Treasury Secretary Scott Bessent is set to visit Kyiv this week for initial discussions on securing US access to Ukraine’s rare earth minerals, according to Bloomberg on February 11.

If the visit proceeds as planned, Bessent would be the first senior official from President Donald Trump’s administration to travel to Ukraine. The White House has not commented on the visit.

The trip comes shortly after President Trump stated that his administration seeks to negotiate an agreement with Ukraine granting access to its critical resources in exchange for support in defending against Russian aggression.

According to government estimates, Ukraine possesses significant deposits of uranium, titanium, lithium, and graphite, which could be valued in the trillions of dollars.

Earlier, US President Donald Trump claimed that Ukraine had agreed to grant the US access to rare earth minerals worth $500 billion. Speaking to Fox News on February 10, he described Ukraine as having “extremely valuable land,” citing its oil and gas deposits.

Trump also emphasized Washington’s financial support for Kyiv and suggested uncertainty over Ukraine’s resources, hinting they could fall under Russian control. “I want that money to be protected,” he said, adding that he directly asked for the equivalent of $500 billion in rare earth resources and that Ukraine “basically agreed.” However, neither Ukrainian nor US authorities have confirmed this claim.