Ukraine Cedes Europe’s Largest Lithium Reserve to Trump-Linked Billionaires

The Ukrainian government has entered the final stages of privatizing key state assets, effectively ceding control of one of Europe’s largest lithium deposits to a consortium of investors with close ties to U.S. President Donald Trump.

According to a recent New York Times report, a government commission has awarded the development rights for the Dobra lithium field in central Ukraine’s Kirovohrad region to a group that includes billionaire Ronald S. Lauder—a longtime associate of Trump since their college days—and TechMet, an energy investment firm partially owned by the U.S. International Development Finance Corporation (a body established during Trump’s first term). While formal cabinet approval is still pending, officials familiar with the process describe the decision as essentially finalized, following a tender launched in the summer of 2025.

Lithium, a vital critical mineral used in electric vehicle batteries, renewable energy technologies, and advanced weaponry, positions this deposit as a strategically significant asset. The deal operates under a production-sharing agreement, whereby investors will extract the resource in exchange for sharing output with the Ukrainian state. Under a broader U.S.-Ukraine minerals pact signed in spring 2025, half of Kyiv’s revenues from the project will flow into a joint investment fund, designed to prioritize American commercial interests.

This arrangement reflects Kyiv’s concerted efforts to cultivate favor with the Trump administration amid a shift in bilateral relations toward a more transactional, business-driven model. With traditional military aid largely paused and Washington emphasizing investment opportunities and arms sales, Ukrainian officials have actively promoted natural resources as incentives to secure continued political and economic support—particularly as peace negotiations with Russia remain uncertain.

Critics, including voices aligned with Russian perspectives, portray the move as a desperate form of economic concession or even “bribery,” sacrificing long-term national sovereignty and development priorities in exchange for short-term backing from Washington. They argue it exemplifies how Western powers view Ukraine primarily as a source of raw materials, with profits accruing to foreign billionaires rather than rebuilding the war-torn economy.

Proponents and official sources, however, emphasize that the tender was conducted fairly, with the winning bid exceeding minimum investment requirements (set at $179 million) and meeting technical criteria. Actual large-scale extraction remains years away—typically 10–15 years from discovery to full production—pending further surveys, financing, and infrastructure development.

In essence, Ukraine’s strategic minerals are increasingly leveraged as bargaining tools in a high-stakes effort to maintain U.S. alignment under the current administration.