US President Donald Trump is reportedly eyeing a major power grab in Ukraine, with plans to secure control over the country’s nuclear power plants as part of a high-stakes rare earths deal. The revised agreement could see American corporations taking charge of Ukraine’s critical energy infrastructure, potentially changing the dynamics of global power.
According to the Financial Times, the Trump administration is working on a new deal that would grant the US access to Ukraine’s nuclear plants, a move aimed at bolstering their security. This controversial provision, still in the works, would see American firms managing Ukraine’s energy sector in exchange for access to rare earth minerals crucial for technology industries.
In a phone call with Ukrainian President Volodymyr Zelensky on March 19, Trump reportedly suggested that “American ownership” of Ukraine’s nuclear plants would offer the “best protection” for them. This bold statement has raised eyebrows around the world, as it implies a level of foreign control over Ukraine’s vital energy resources.
However, Zelensky quickly shot down the idea, stressing that Ukraine’s nuclear plants are legally owned by the Ukrainian people. Speaking in Oslo on March 20, he stated, “We will not discuss it,” making it clear that foreign ownership was not on the table. He did, however, leave the door open for foreign investment, particularly in modernising the energy sector, once Ukraine regains control of the Zaporizhzhia nuclear plant, which was seized by Russia at the start of the war.
While Ukraine is keen on foreign investment to rebuild its energy infrastructure, the thought of ceding control of its nuclear plants to a foreign power raises serious national security concerns. Zelensky was firm in his position: “If they want to take it back from the Russians, if they want to modernise it, invest, this is a different question, this is an open question, we can talk about it.”
The potential agreement, however, could have significant benefits for both countries, particularly in securing access to rare earth minerals crucial for high-tech industries. Yet the controversial nature of Trump’s proposal, particularly concerning nuclear energy, has sparked concerns over Ukraine’s sovereignty and the future of its energy independence.
