Ukrainian President Volodymyr Zelenskyy is gearing up for a significant meeting with U.S. Vice President JD Vance at the forthcoming Munich Security Conference. This anticipated meeting comes in light of Zelenskyy’s recent declarations of his willingness to discuss a potential deal with former President Donald Trump.

In a revealing interview with Reuters, Zelenskyy articulated his openness to formulating agreements that would enhance U.S. support in Ukraine’s protracted conflict. He specifically mentioned the possibility of providing the U.S. with rare-earth minerals, a crucial component in various technologies, as part of this negotiation.

“If we are talking about a deal, then let’s do a deal. We are open to it,” the Ukrainian president stated emphatically.

Potential Peace Talks with Russia

In addition to his ambitions for U.S. support, Zelenskyy has revived discussions around peace negotiations with Russia, aimed at putting an end to the ongoing war, now in its third year. However, the particular terms surrounding any such arrangement remain unclear.

The president has underscored the necessity of strong security assurances, citing past agreements—most notably the 1994 Budapest Memorandum, which saw Ukraine hand over its nuclear arsenal in exchange for sovereignty protections—as having been ultimately disregarded by Russia.

Ukraine’s Rare-Earth Minerals as a Bargaining Chip

Recent reports suggest that Zelenskyy initially envisioned utilizing Ukraine’s mineral resources, now mostly under Russian control, as a “bargaining chip.” Under his “victory plan,” introduced to Western allies last fall, a significant portion of these resources, including half of Ukraine’s rare-earth reserves, are crucial for the production of consumer electronics and electric engines.

With Ukraine at risk of losing control over its mineral resources, Zelenskyy has expressed concerns that Russia could leverage these materials to align with nations like North Korea and Iran, both of which have recently faced intensified U.S. sanctions. The outcome of these strategic negotiations could have far-reaching implications for the global market.

Trump Open to Trade Agreement with Ukraine

While Trump will not be present at the Munich Security Conference, Zelenskyy is poised to lead Ukraine’s delegation. His agenda includes meetings with Vice President Vance and retired Lt. Gen. Keith Kellogg, the U.S. special envoy to Ukraine and Russia.

In recent comments, Trump indicated that a meeting with Zelenskyy in Washington, D.C., could follow the conference, potentially allowing for further discussions regarding the conflict and U.S. support.

“I’d like to see that war end,” Trump remarked to reporters. “We’re looking to make a deal with Ukraine where they secure what we’re providing them with their rare-earth materials and other resources.”

Ongoing Fighting in Ukraine and Cross-Border Offensives

As negotiations loom, fighting persists in eastern Ukraine. Recent reports from Moscow claim the capture of the mining town of Toretsk in the Donetsk region, notwithstanding Ukraine’s determination to thwart Russian advances. The persistence of military operations on both sides continues to shape the landscape of potential peace discussions.

Amidst these developments, Kyiv is also intensifying its military strategies in Russian-held territories. This tactical shift is perceived as an effort to strengthen Ukraine’s position should ceasefire negotiations come to fruition.

In a significant update, Zelenskyy disclosed that Ukrainian forces have initiated a renewed offensive in the Russian Kursk region—an area where incursions first began in August 2024.

“In the Kursk operations, new assaults have been carried out,” Zelenskyy commented in his nightly address. He also noted the continued deployment of North Korean soldiers by Russia at the front lines.

While the extent of North Korea’s troop reinforcements remains uncertain—estimates suggest around 12,000 troops were sent in October—South Korean intelligence has indicated that Pyongyang is likely to enhance its military presence further.

Zelenskyy commended the capabilities of Ukrainian forces in Kursk and reiterated the importance of holding defensive positions. He emphasized that a strong front line would bolster Ukraine’s diplomatic efforts and partnerships.

“We must hold all our positions firmly,” he asserted. “The stronger we stand on the front lines, the stronger our diplomacy and partnerships will be.”