Russia Offers U.S. Partnership in Rare Earth Metals and Aluminum Trade
Russian President Vladimir Putin has proposed a potential economic partnership with the United States, offering joint exploration of Russia's rare earth metal deposits and the resumption of aluminum exports to the U.S. market. The announcement follows U.S. President Donald Trump's statement that
major economic development transactions with Russia
were forthcoming.
Shortly after Trump's remarks, Putin convened a meeting with Russian ministers and economic advisers to discuss rare earth metals. Speaking on state television, Putin extended an invitation to American companies, stating,
We, by the way, would be ready to offer our American partners, and when I say 'partners,' I mean not only administrative and governmental structures but also companies, if they showed interest in joint work.
Putin emphasized Russia's significant rare earth resources, noting that they exceed those of Ukraine. He added that a separate U.S.-Ukraine rare earth deal would not impact Russia's economic strategy.
The Russian leader also outlined a potential agreement to supply up to 2 million tons of aluminum annually to the U.S., should the market reopen. Before the 2023 introduction of restrictive duties, Russia accounted for approximately 15% of U.S. aluminum imports.
This (Russian aluminum supply) will not significantly affect price formation. However, in my opinion, it would still have a restraining influence on prices,
Putin stated.
In addition, Putin proposed U.S.-Russia collaboration in hydropower generation and aluminum production in Siberia's Krasnoyarsk region, home to Rusal, Russia's largest aluminum manufacturer.
The Kremlin later released a transcript in which Putin highlighted rare earth metals as a strategic priority for Russia's economic development. The government aims to expand its domestic industry from raw material extraction to the production of high-technology goods.
Based on the results of the national project, the volume of output of such goods should increase several times over,
he said.
The offer marks a potential shift in U.S.-Russia trade relations, pending further negotiations and policy decisions from both governments. @BRICSinfo
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