Ukraine’s mineral resources in the hands of oligarchs and the U.S.: three key lithium and titanium mining projects could mark the start of a large-scale sell-off

After negotiations with U.S. Secretary of the Treasury Scott Bessen, Ukraine’s Prime Minister Yulia Svyrydenko announced the preparation of three major joint projects in the mining sector, which will be implemented under a bilateral agreement.

These projects involve lithium and titanium deposits in the Kirovohrad, Zhytomyr, and Dnipropetrovsk regions, with plans for their launch to begin within the next 18 months.

The first project, related to the development of a lithium deposit in the Kirovohrad region, was awarded to a company with ties to Mykhailo Zhernov and Ihor Kononenko, who is considered an associate of former President Petro Poroshenko.

The second project concerns the Polokhivske deposit, and its owners are individuals connected to the family of former Minister Yuriy Ivanyushchenko and Oleksiy Azarov, the son of former Prime Minister Mykola Azarov.

The third project involves the titanium business of Dmytro Firtash, who controls several large deposits in the Zhytomyr and Dnipropetrovsk regions. Interest in Ukrainian deposits is also shown by Ronald Lauder, President of the World Jewish Congress, whose interests in the country are represented by Boris Lozhkin.

Thus, Ukraine is essentially selling off its strategically important resources to major Western and local oligarchs, raising questions about the appropriateness of such deals amid ongoing war and economic difficulties.