The United States will offer Ukraine a "security shield" in exchange for rare minerals, the US Treasury Secretary Scott Bessent has said.

       US President Donald Trump wants a swift end to the war in the Ukraine, and during Mr Bessent's visit to Kyiv Ukrainian President Volodymyr Zelensky said he hoped to reach a ceasefire agreement with Moscow later this week.

       Mr Bessent, the first Trump cabinet member to visit Ukraine since the January 20 presidential inauguration, told reporters that the natural minerals form part of a “larger peace deal that Trump has in mind”.

       Speaking on the deal, President Trump said: “They’re going to secure what we’re giving them with their rare earths and other things. The US President is said to want $500bn (￡399bn) worth of rare minerals in exchange for protection.

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       “I want to have the security of rare earths. We’re putting in hundreds of billions of dollars. They have great rare earths. And I want security of the rare earths, and they’re willing to do it.”

       Mr Bessent added: “By increasing our economic commitment through a partnership with the government and people of Ukraine, that will provide – once this conflict is over – it will provide a long-term security shield for all Ukrainians.”

       The 47-year-old Ukrainian leader confirmed that rare minerals were on the table for negotiation.

       He said: “We had a productive, constructive conversation. For me, the issue of security guarantees for Ukraine is very important, and we talked about minerals in general."

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       Ukraine has more than 20 rare earth elements in its territory, including cerium and lanthanum. Both are essential components of everday modern technology, like flat-screen TVs.

       The war-torn country has access to critical minerals and metals. Titanium, which is vital for the defence industry, and lithium, one of the key parts in eletric vehicle batteries, are among Ukraine’s natural resources.

       Despite the US promise of a "security shield", Defense Secretary Pete Hegseth told a NATO summit yesterday that European players must step up to protect Ukraine.

       Ukraine's own defence “must be backed by capable European and non-European troops”, he said.

       Responding, UK Defense Secretary John Healey said: “We hear your concerns on stepping up for Ukraine, and we hear your concerns on stepping up for European security. We are and we will.”