Politics

UPDATE: Zelenskyy ready to swap Kyiv-held land in Russia for Ukrainian territory

Volodymyr Zelenskyy did not specify the Ukrainian territories he would ask for.
Volodymyr Zelenskyy did not specify the Ukrainian territories he would ask for. Photo: Ukrinform/NurPhoto via Getty Images
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President Volodymyr Zelenskyy has said he would offer to swap land Ukrainian troops control in Russia's Kursk region in exchange for a return of Ukrainian territories Russia currently occupies if negotiations took place.

“We will swap one territory for another,” Zelenskyy said in an interview with Britain's Guardian newspaper published on Tuesday.

Zelenskyy did not specify the Ukrainian territories he would ask for. “I don't know, we will see. But all our territories are important, there is no priority,” he added.

Russia currently occupies about 20% of Ukrainian territory in the country's east and south as the full-scale invasion it launched on February 24 approaches its third anniversary.

Ukraine staged a surprise offensive into the Kursk region of western Russia last August and still holds part of the initially captured territory, although its size has dwindled in the course of Russian counter-attacks.

Kyiv officials say the Kursk operation was meant to protect border regions and that captured land could be used as a bargaining chip in any peace negotiations, whose prospects have risen since Donald Trump returned as U.S. president.

Zelenskyy has repeatedly stressed that any plan to end the war in Ukraine should provide for strong security guarantees from allies to ensure no future Russian aggression is possible.

US eyes rare earths

Meanwhile, Trump on Tuesday confirmed that he is sending U.S. Treasury Secretary Scott Bessent to Ukraine this week.

It is widely expected that the main point on Bessent’s agenda will be a deal that would allow the U.S. to access Ukraine’s rich rare-earth deposits in exchange for continued support in fending off the Russian invasion.

Rare earths are a group of metals used to make magnets that turn power into motion for electric vehicles, cell phones, missile systems and other electronics. There are no viable substitutes, and demand is widely expected to grow.

Trump has previously said he would probably meet Zelenskyy this week to discuss ending the war. He indicated on Sunday that he had been in contact with Putin, without specifying when. The Kremlin neither confirmed nor denied those contacts.
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